Guam: SPPC Restructure is Complete
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Friday, 31 October 2008 |
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South Pacific Petroleum Corp. this week announced the completion of its
reorganization and ownership structure -- three months before its ninth
anniversary of acquiring the assets of the former Exxon in Guam.
SPPC operates 10 service stations selling the 76 fuel brand as well as 12 Circle K convenience stores.
"Internal restructuring of our company now allows us to be more nimble, responsive and financially stronger than ever before ... all of which is good for our employees, our shareholders and of course our customers," SPPC President and CEO Brian Y. Suhr said.
The company also announced Michael Hahm's return as both executive vice president and chief operating officer.
"After much discussion with the SPPC board and its majority shareholders, it was agreed that my renewed involvement with SPPC was critical for our new and bold plans for the future," Hahm said in the company press release.
Suhr said none of SPPC's "customers felt anything different during this transitional period."
PetrolWorld 291008
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