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.