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NuStar Energy L.P. Announces New Director

Stocks in this article: NS

The board of directors of NuStar Energy L.P. (NYSE: NS) announces the election of W. Grady Rosier to the board.

Rosier is president and CEO of McLane Company, Inc., a $44 billion supply chain services company based in Temple, Texas. A subsidiary of Berkshire Hathaway, McLane has over 16,000 employees in 80 locations around the world and provides supply chain solutions for thousands of grocery and food service retailers across the United States and Brazil.

Rosier joined McLane in 1984 and held various senior management and executive roles before he was named president and CEO in 1995. Under his leadership, McLane has achieved significant market share growth and substantial increases in revenue, which has risen from $5.6 billion to $44 billion, and the company is debt-free.

"We are very fortunate to be bringing aboard Grady Rosier as he is a proven business leader and he’s led his company to such significant growth and success,” said Bill Greehey, NuStar’s chairman of the board. “He will be a tremendous asset to NuStar as we pursue an aggressive growth strategy in our core pipeline and storage operations.

“We also appreciate the fact that he has established an employee-first culture at McLane like we have at NuStar, and he is known among his employees for his honesty and integrity,” Greehey added. “So he will help us ensure that our decisions are made with our employees’ best interests in mind, which of course will benefit our unitholders.”

Rosier helped lead McLane’s growth and success through numerous strategic initiatives that included dramatic expansion of its distribution centers across the U.S., and expansion into the food service business to serve chain restaurants across the country. He also played an instrumental role in the negotiation of the $1.5 billion sale of McLane from Wal-Mart to Berkshire Hathaway in 2003, which provided McLane with access to key resources and greater financial stability. In 2010 he led McLane’s expansion into the alcoholic beverage distribution industry with the acquisition of Empire Distributors, Inc. And in 2012 the company further expanded with the acquisition of Meadowbrook Meat Company, a national food service distributor.

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