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Henderson to Head SunCoke Energy, Appointed SVP of Sunoco
9/03 9:19 AM
Henderson to Head SunCoke Energy, Appointed SVP of Sunoco HOUSTON (DTN) -- Sunoco, Inc. announced today that Frederick A. Henderson has joined the company as a senior vice president to help prepare for the previously announced separation of SunCoke Energy from Sunoco. Henderson, 52, former president and CEO of General Motors, will become chairman and chief executive officer of SunCoke Energy upon completion of the separation. As announced in June, Sunoco plans to separate SunCoke Energy from Sunoco as part of a strategy to provide higher shareholder value. Sunoco plans to effect the separation in the first half of 2011, subject to market, regulatory and other conditions, and is currently reviewing a variety of potential separation transactions. "Fritz is an exceptionally gifted and highly experienced executive with the business and financial expertise needed to lead SunCoke Energy as an independent company and drive its global growth strategy," said Lynn L. Elsenhans, Sunoco's chairman and CEO. "His broad global experience managing businesses in many of the world's major markets will be invaluable." Henderson said he is "excited" to lead SunCoke Energy. "I see significant global growth potential for the company," he said. "I look forward to building upon the strong foundation that has already been established to pursue the exciting opportunities ahead." Michael J. Thomson, president of SunCoke since 2008, will assume the additional role of chief operating officer upon completion of SunCoke's separation from Sunoco. Henderson held a variety of management positions during his 25 years at General Motors, joining the company in 1984. In 2004, Henderson was appointed chairman of GM Europe. He then became GM's vice chairman and chief financial officer in 2006, then president and chief operating officer before being appointed president and chief executive officer in 2009. Sunoco is a transportation fuel provider, with operations located primarily in the East Coast and Midwest regions of the United States. The company operates more than 4,700 branded retail locations that market transportation fuels and convenience store merchandise in 23 states. (c) 2010 Telvent DTN. All rights reserved.