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Brentwood magazine

Delek US responds to new board appointments

BRENTWOOD, Tenn. — Entrepreneur Carl Icahn, through his IEP Energy Holding LLC, New York, named three nominees for election to the board of directors of Delek US Holdings Inc. The nominees – all previous nominees with experience in oil refining and marketing – are Randall Balhorn, vice president of business development at US Development Group LLC; George Damiris, board member of Eagle Materials Inc., formerly with HollyFrontier; and Robert Kent Jr., president of REK Energy, formerly at Sinclair and CITGO.

In 2021, Delek US resisted a call from majority shareholder Icahn’s CVR Energy to sell its more than 250 convenience stores. In a letter, the activist investor suggested that the company’s shares are undervalued and that he could benefit from the sale of the retail network. The shareholders rejected the list of candidates for the board of directors of CVR Energy.

“Delek US is committed to maintaining a strong, independent and diverse Board of Directors that best serves the interests of its shareholders, employees, customers and partners, and regularly reviews opportunities for creation and value creation,” said Delek US in a statement in response to the 2022. nominations. “The Nominating and Corporate Governance Committee of the Company’s Board of Directors will evaluate the nominees and make a recommendation to the Board of Directors, which will make its recommendation to shareholders. Delek’s U.S. shareholders are not required to take action at this time. »

Based in Brentwood, Tennessee, Delek US is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retail. Refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Ark., and Krotz Springs, La. The Company’s convenience store business operates approximately 250 stores in central and western Texas. and New Mexico. Delek US is the largest 7-Eleven licensee in the United States, although the companies have agreed to break the license agreement. The retail convenience store business launched a new convenience store brand, DK, and is rebranding all 7-Eleven stores with the new identity.

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Tags : united states
Cory E. Barnes

The author Cory E. Barnes