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Global Partners Shakes Up Management Ranks

By Rich Smith - Apr 24, 2013 at 6:29PM

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Oil and gas distributor trades a combination CFO/COO for one new CFO, and one new COO, separately.

Waltham, Mass.-based Global Partners (GLP -1.40%) shook up its management ranks this morning.

Announcing the retirement of current company Chief Financial Officer, Chief Operating Officer, and Director Thomas J. Hollister Wednesday, Global Partners said it will be divvying up his responsibilities between two other people going forward.

Current company Treasurer Daphne Foster, a six-year veteran of the company, has been promoted to the position of CFO. Simultaneously, the company's senior vice president for light oil supply and distribution, Mark Romaine, who has been with the company 15 years, is being promoted to COO.

Details on the new executives' respective compensation schemes have not yet been disclosed.

Global Partners shares finished the day up 2.85% at $36.40.

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