HOUSTON (AP) -- The Susser companies announced a series of changes to its management on Thursday.
Susser Holdings runs the Stripes convenience store chain, and it is a majority owner in Susser Petroleum Partners LP, a master limited partnership that distributes fuel to Stripes stores and other companies. Susser Holdings and Susser Petroleum Partners both made changes.
Sam Susser is giving up his position as CEO of Susser Petroleum Partners and was appointed chairman of Susser Holdings. He will remain CEO of Susser Holdings, a job he has held since 1992. He will also remain chairman of Susser Petroleum Partners.
Bruce Krysiak will become the lead independent director of Susser Holdings. He had been its chairman for 13 years.
Rocky Dewbre was named president and CEO of Susser Petroleum Partners. He has been with the Susser companies for 20 years and was the president and chief operating officer of Susser Petroleum Partners' general partner. Gail Workman was promoted to chief operating officer of the general partner, replacing Dewbre.
Drew Alexander, the president and CEO of Weingarten Realty, was elected to the board of directors of Susser Petroleum Partners. The election expands the company's board to seven directors. Dewbre's term will expire in 2016.
Rob Jones and Frank Risch were both elected to the board of directors of Susser Petroleum Partners GP LLC, Susser Petroleum's general partner. Jones will be the lead independent director.
In morning trading, shares of Susser Holdings Corp. rose 57 cents to $51.09 and Susser Petroleum Partners LP units lost 79 cents, or 2.5 percent, to $30.51.