STAR GAS PARTNERS, L.P. ANNOUNCES HIRING CHIEF MARKETING OFFICER
STAR GAS PARTNERS, L.P. ANNOUNCES HIRING CHIEF MARKETING OFFICER
November 14, 2003
In commenting on hiring Mr. Shinnebarger, Irik Sevin, Star's Chairman said, "We are extremely excited about David's joining us. While David will provide assistance to all of the Partnership's activities, initially he will focus on partnering with Angelo Catania, the Petro Division's President, to hopefully translate their recent Business Process Redesign Improvements into growing that division internally as well as through acquisitions.
"In keeping with this objective, as part of the bonus provisions of David's employment agreement, he has been granted the right to receive up to approximately 7,000, 10,000 and 14,000 common units, respectively, in the three years of his employment if certain performance goals relating to the acquisition and retention of heating oil customers are met."
Star Gas Partners, L.P., is a leading distributor of home heating oil, propane and deregulated natural gas and electricity. The Partnership is the nation's largest retail distributor of home heating oil and the nation's seventh largest retail propane distributor. Star, through its wholly owned subsidiary Total Gas & Electric, also sells natural gas and electricity in the Northeast, Mid-Atlantic and Florida.
This news announcement contains certain forward-looking information that is subject to certain risks and uncertainties as indicated from time to time in the Partnership's 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission. Included risks and uncertainties are the effects of the weather on the Partnership's financial results, competitive and propane and heating oil pricing pressures, realized savings from the Business Process Improvement Program and other factors impacting the propane, home heating oil, natural gas and electricity distribution industries.