Suburban Propane Partners, L.P. Announces Executive Level Promotion

Rhea-AI Summary

Suburban Propane Partners (NYSE: SPH) announced the promotion of Alejandro ('Alex') Centeno to Senior Vice President – Operations, succeeding retiring Chief Operating Officer Steven C. Boyd effective January 1, 2025. Centeno, who has been with the company for over 15 years, will oversee day-to-day propane operations, customer growth initiatives, operational efficiencies, and support functions. The promotion aligns with the company's planned management succession strategy. Boyd retires after a nearly 39-year career with the Partnership, having started as a delivery driver and progressing through various leadership roles.

Positive

• Internal promotion demonstrates strong succession planning and talent development
• New SVP brings 15+ years of company experience to the role
• Smooth leadership transition planned with advance notice

Negative

• Loss of experienced COO with 39 years of company knowledge

WHIPPANY, N.J., Nov. 15, 2024 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and investor in low carbon fuel alternatives, announced today an executive promotion in line with its planned management succession. As previously announced, Steven C. Boyd, the Partnership's Chief Operating Officer, will retire effective January 1, 2025.

The Partnership announced that Alejandro ("Alex") Centeno has been promoted to Senior Vice President – Operations as successor to Mr. Boyd. In his role, Mr. Centeno will report to Michael A. Stivala, President and Chief Executive Officer. Mr. Centeno has been with the Partnership for over 15 years, where he has held several managerial positions within the operations, most recently, rising to the level of Vice President – Operations since August 2023. In his new position, Mr. Centeno will be responsible for leading all aspects of the day-to-day operations of the propane business, as well as advancing the Partnership's customer base growth and retention initiatives, driving continued improvements in operational efficiencies and overseeing operational support functions; including safety, marketing and fleet management. 

In announcing this promotion, President and Chief Executive Officer Michael A. Stivala stated, "This well-deserved promotion is in recognition of Alex's experience, knowledge and understanding of Suburban's business model and strategic growth initiatives. At Suburban Propane, we have a great history of developing our people and providing them opportunities to grow in their careers and take on additional leadership responsibilities. Alex's deep industry knowledge and experience, coupled with his ability to challenge the status quo, are attributes that have been and continue to be critical to our long-term success as an organization. I have tremendous confidence in Alex's ability to leverage Suburban's industry-leading operational practices to grow and extend our market share, while maintaining the organization's focus on safety, outstanding customer service and driving operational efficiencies.

Mr. Stivala continued, "I also wish to thank Steve Boyd for his immeasurable contributions to the success of Suburban Propane over his nearly 39-year career with the Partnership, which started as a delivery driver and encompassed several leadership roles throughout our field operations. Steve has been a cornerstone of our leadership team for the better part of the past 20 years and we wish him all of the best in his retirement."

About Suburban Propane Partners, L.P.
Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban Propane has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas ("RNG"), fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon fuel alternatives, servicing the energy needs of approximately 1 million residential, commercial, governmental, industrial and agricultural customers through approximately 700 locations across 42 states. Suburban Propane is supported by three core pillars: (1) Suburban Commitment – showcasing Suburban Propane's over 95-year legacy, and ongoing commitment to the highest standards for dependability, flexibility, and reliability that underscores Suburban Propane's commitment to excellence in customer service; (2) SuburbanCares – highlighting continued dedication to giving back to local communities across Suburban Propane's national footprint; and (3) Go Green with Suburban Propane – promoting the clean burning and versatile nature of propane and renewable propane as a bridge to a green energy future and investing in the next generation of innovative, renewable energy alternatives. For additional information on Suburban Propane, please visit www.suburbanpropane.com.

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SOURCE Suburban Propane Partners, L.P.

FAQ

When will Steven C. Boyd retire as COO of Suburban Propane (SPH)?

Steven C. Boyd will retire as Chief Operating Officer of Suburban Propane (SPH) effective January 1, 2025.

Who will replace Steven C. Boyd at Suburban Propane (SPH)?

Alejandro ('Alex') Centeno has been promoted to Senior Vice President – Operations at Suburban Propane (SPH) to succeed Steven C. Boyd.

How long has Alex Centeno been with Suburban Propane (SPH)?

Alex Centeno has been with Suburban Propane (SPH) for over 15 years, most recently serving as Vice President – Operations since August 2023.