Tom Kivisto is an American businessman who co-founded SemGroup, L.P. in April 2000 and served as the company's president and chief executive officer until July 18, 2008.[a] Under his leadership, SemGroup completed more than 40 acquisitions and its total assets grew from $227.4 million in 2000 to more than $3.6 billion at year-end 2005. Kivisto was replaced by Terry Ronan on July 18, 2008, after news surfaced that SemGroup, L.P. was experiencing liquidity issues and considering filing for Chapter 11 bankruptcy.[2][3]
Education
editKivisto's father, Ernie, was a successful high school basketball coach who won more than 1,000 games in his coaching career. Coached by his father, Tom Kivisto was a star point guard at East Aurora High School near Chicago. He then earned a bachelor's degree from the University of Kansas, majoring in pre-med/psychology and playing for the basketball team from 1970 to 1974. While there, Kivisto was a member of KU's 1971 and 1974 NCAA Final Four teams. He was named Academic All American, All Big 8 and Academic All Big 8. He holds the single game assist record for the Kansas team. His post-graduate work was in urban planning. He is a member of the Illinois Basketball Hall of Fame.[4]
Career
editKivisto moved his family to Tulsa, Oklahoma in 1993 after having lived in Wichita, Kansas for 15 years working for Koch Industries. He started his own services company, SemGroup, which became one of the largest privately held companies in the United States before filing for bankruptcy in 2008.
Kivisto donated over $15 million to his alma mater, the University of Kansas, to help finance the building of new football facilities at the school.[5] Kivisto serves on the board of directors of Saint Francis Health System, Family & Children's Services, and Project Single Parent, a nonprofit organization of which he is a cofounder. In 2006, Kivisto also was named to the University of Tulsa Board of Trustees. In 2006, The Pipe Liners Club of Tulsa recognized Kivisto with its President's Award. In January 2007, TulsaPeople Magazine named Kivisto "Tulsan of the Year" for 2006.[6]
2006 Bank of America Loan
editIn 2006, Kivisto borrowed $15 million from Bank of America and guaranteed the loan through his personal trust company's limited partnership interest in SemGroup. In 2008, SemGroup filed for Chapter 11 bankruptcy protection.[1]
Notes
editReferences
edit- ^ a b Walton, Rod. "Kivisto agrees to pay bank." Tulsa World. April 11, 2009. Accessed April 1, 2019.
- ^ "New president, CEO to take over SemGroup amid debt problems". Tulsa World. July 18, 2008. Retrieved July 18, 2008.
- ^ Ng, Serena; Brickley, Peg; Cui, Carolyn (July 25, 2008). "Wrong-Way Oil Bets Slam an Energy Firm". The Wall Street Journal. Retrieved July 25, 2008.
- ^ Ginnie Graham, "'But I wouldn't bet against him'", Tulsa World, August 3, 2008 Archived January 2, 2009, at the Wayback Machine
- ^ "Self talks with Cowboys, but says he'll stay at KU". Wichita Eagle. April 11, 2008. Retrieved April 11, 2007.
- ^ "The ABCs of Tom Kivisto". TulsaPeople. January 2007. Retrieved January 5, 2007.
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