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Saturday, July 19, 2008

KU football donor Kivisto out as CEO of SemGroup LP, replaced by CFO

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Tom Kivisto, a major donor for Kansas University football facility improvements, was removed as president and CEO of SemGroup LP on Friday, the company announced.

Kivisto, 56, was replaced by chief financial officer Terry Ronan after news surfaced that the energy company based in Tulsa, Okla., was experiencing liquidity issues and was considering filing for Chapter 11 bankruptcy.

Kivisto, a former KU basketball player, co-founded SemGroup LP in 2000 and had served as its boss until Friday's announcement.

Kivisto, who was the starting point guard on KU's 1974 NCAA Final Four team, donated a reported $10 million toward construction of the football complex at Memorial Stadium.

The new $31 million facility is called Anderson Family Football Complex after Dana Anderson, another major donor, but the adjacent playing surface was renamed Kivisto Field during the 2006 season.

SemGroup owns and operates a diversified portfolio of energy assets. It operates crude oil and liquid asphalt cement terminals and offers storage, crude-oil gathering and transportation. SemGroup employs about 2,000 worldwide, including 400 in Tulsa.

Comments

troutsee 6 years, 3 months ago

He has earned our respect and appreciation. Hopefully, this all turns out well for him.

Dyrk Dugan 6 years, 3 months ago

the money train was very good from him, over the last few years. Hopefully, he'll get out of this ok. Maybe he can start another company. Some people's talent have the entrepeneurial spirit.

FlaHawk 6 years, 3 months ago

Tommy KIvisto was a protype guard from his era. Distribute the ball and play D. Was not much of a scorer but a coach on the floor (his Das was a HS BB Coach).He has been very good to KU and we all wish him well in his next business.

6 years, 3 months ago

Certainly, we should all be grateful for the incredible contributions Mr. Kivisto and his family have made to our University and football program. Like mvjayhawk alluded to, he probably has the natural ability to end up on top no matter what endeavor he applies himself to.

Ryan Gerstner 6 years, 3 months ago

Hopefully, he gets a huge golden parachute!

jayhawkr34 6 years, 3 months ago

this is sad for him and his family, but it also affects my family, my wife i and haul crude oil that is sold to sem-crude(semgroup)

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