1. Michael G. Kulp joins MUSA's Board of Directors as an independent director. 2. Kulp's experience in retail operations will enhance MUSA's operational excellence. 3. He has led KBP Brands, operating over 1,200 restaurants across 32 states. 4. His leadership in multi-unit acquisitions will provide valuable insights for MUSA.
FAQ
Why Bullish?
Kulp's extensive experience can drive MUSA’s strategic initiatives and profitability. Historical trends, like the positive market reactions to leadership changes, suggest potential price uplift.
How important is it?
The appointment of a highly experienced director is likely to positively influence MUSA’s direction and market perception.
Why Long Term?
Kulp's strategic leadership will take time to yield visible operational improvements. While immediate effects might be muted, long-term impacts could significantly enhance shareholder value.
Murphy USA Inc. (NYSE:MUSA) is pleased to announce that the Board of Directors has appointed Michael G. Kulp as an independent director of the company.
"We are honored to add Mike to our Board," said Madison Murphy, Chairman of Murphy USA Inc. "His extensive experience in retail food service operations, combined with his proven leadership in scaling multi-unit businesses, will bring valuable insights as we continue to strengthen our operational excellence and deliver value to our shareholders."
Mr. Kulp is the Founder and CEO of KBP Brands, one of the largest operators of quick-service restaurants in the United States and globally. Since its founding in 2011, KBP Brands has grown to operate more than 1,200 KFC, Taco Bell, Arby's, and Sonic restaurants across 32 states, employing over 23,000 people. To achieve this impressive growth, Mr. Kulp has led KBP through over 95 multi-unit acquisitions across the United States.
Beyond KBP, Mr. Kulp is the immediate past Chairman of Restaurant Supply Chain Solutions, LLC, the world's largest quick-service restaurant purchasing and distribution cooperative. He is also a board member and past chairman of Neurodiversity Innovations and previously served on the board of Airshare, one of the largest private aviation companies in the United States.
About Murphy USA
Murphy USA (NYSE:MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,750 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The Company and its team of over 17,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters, but we also operate standalone stores that market gasoline and other products under the Murphy USA, Murphy Express, and QuickChek brands. Murphy USA ranks 231 among Fortune 500 companies.
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Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
Christian.Pikul@murphyusa.com
Ash Aulds – Director of Investor Relations and FP&A
Ash.Aulds@murphyusa.com