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2017-03-12T00:00:00.000Z

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Wrong Eric Slifka?

Mr. Eric S. Slifka

President and Chief Executive Officer

Global Partners LP

Direct Phone: (781) ***-****       

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Global Partners LP

800 South Street Suite 200

Waltham, Massachusetts 02454

United States

Company Description

Global Partners is a midstream logistics and marketing master limited partnership that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. With approximately 1,500 locations, pri ... more

Find other employees at this company (609)

Background Information

Employment History

President and Chief Executive Officer

Warren Equities Inc

President and Chief Executive Officer

CPBR

Affiliations

Trustee
EPRINC

Board Member
Argyle Executive Forum LLC

Pages and Board of Directors Member
Administration

Web References (135 Total References)


/s/ ERIC ...

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/s/ ERIC SLIFKA

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Eric Slifka President, Chief Executive Officer and Director (Principal Executive Officer)


Blog Coverage Global Partners Ends Railcar Sublease Agreement Before Maturity to Save Costs

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Commenting on the termination Eric Slifka, President and CEO of Global Partners, said:


Global Partners Reports Third-Quarter 2016 Financial Results | Business Wire

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" In our Gasoline Distribution and Station Operations segment, we generated a solid product margin of $136.8 million in the quarter, a result comparable to the strong margin achieved in the same period last year," said Eric Slifka, President and Chief Executive Officer of Global Partners. " Through the end of Q3, this year we have finalized a $63.5 million sale-leaseback transaction and have completed the sale of certain non-strategic gasoline stations and convenience stores for a total of $57.7 million, which includes the sale of 30 sites in Western New York and Pennsylvania to Mirabito Holdings. In addition, we have added 22 leased gasoline stations and c-stores to our retail portfolio and are proceeding with the sale of other non-strategic retail sites through NRC Realty & Capital Advisors.

" Within our Wholesale segment, gasoline and gasoline blendstocks product margin tripled in the quarter to $21.5 million, as we continued to capitalize on favorable market opportunities and leverage our storage capacity across the Northeast.
" As a result of the uncertainty surrounding the crude oil markets, in the third quarter we recorded a significant non-cash goodwill and long-lived asset impairment charge related to our Wholesale segment that negatively impacted our financial results," Slifka said.


Big Oil Selling Off Retail – Better or Worse? | GASDA

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In addition, the sites were attractive given their location and brand recognition, according to Global Partners President and CEO Eric Slifka.

...
"Our business relationship with ExxonMobil dates back many decades, and we truly appreciate the company's reputation for providing safe, reliable, high-quality transportation fuels," Slifka said. "Consequently, we entered into a long-term branding agreement with ExxonMobil to retain the right to supply Mobil-branded fuel to these sites and operate them under the Mobil banner."
Global Partners outsources the day-to-day management and operation of the locations - 145 of which have c-stores - to a third party. Alliance Energy LLC is an experienced retail operator with significant knowledge of fuels marketing and convenience store operations. Since acquiring the sites, Slifka said they've made some merchandising improvements within the c-stores, while maintaining a seamless experience for consumers.
"ExxonMobil built the premier brand and a superb dealer network, and our focus is on maintaining those high standards," he explained, noting the purchase of these locations increases Global Partners' earnings power and enhances its long-term growth potential.
Posed with the question of whether Big Oil's divestitures have been good or bad for the industry, Slifka said he could only speak for Global Partners.


In connection with the accompanying ...

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In connection with the accompanying report on Form10-Q for the period ended June30, 2016 of Global PartnersLP (the Partnership) and filed with the Securities and Exchange Commission on the date hereof (the Report),I, Eric Slifka, President and Chief Executive Officer of Global GPLLC, the general partner of the Partnership, hereby certify, pursuant to Section906 of the Sarbanes-Oxley Act of 2002, that:

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/s/ Eric Slifka
...
Eric Slifka
President and Chief Executive Officer

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