Delek US Holdings Expands Its Leadership Team; Adding Mark Hobbs as EVP, Corporate Development

Rhea-AI Summary

On September 6, 2022, Delek US Holdings (NYSE:DK) announced the appointment of Mark Hobbs as Executive Vice President of Corporate Development. Hobbs brings over 28 years of energy industry experience and a background in strategic advisory roles. His expertise is expected to enhance Delek's growth strategy, focusing on unlocking the company's 'sum of the parts' valuation and exploring opportunities in both existing and new markets, including alternative energy sectors. This leadership change is aimed at positioning Delek for substantial growth.

Positive

• Appointment of Mark Hobbs as EVP of Corporate Development to enhance growth strategies.
• Hobbs' extensive experience in the energy sector can bring valuable insights and opportunities.
• Focus on unlocking the 'sum of the parts' valuation and expanding into alternative energy markets.

Negative

• None.

BRENTWOOD, Tenn., Sept. 6, 2022 /PRNewswire/ -- Delek US Holdings, Inc. (NYSE:DK) ("Delek US" or the "Company") today announced that Mark Hobbs will join Delek in the upcoming weeks to fill the role of Executive Vice President, Corporate Development. In his new role, Mr. Hobbs will work closely with Delek's management team to lead the Company's corporate development functions. He will contribute to the Company's efforts of bringing the "sum of the parts" valuation to fruition, along with identifying growth opportunities in both current and new markets.

Mr. Hobbs is an experienced investment banker with over 28 years of energy industry experience, leading and participating in strategic advisory engagements across the downstream sector. He brings deep sector knowledge with expertise in downstream, midstream, oilfield services and renewables.

"Mark is a dynamic and proven strategic leader who is uniquely qualified for this role. He brings a valuable combination of skills and experience to our team with proven financial expertise and extensive knowledge of our industry," Delek US President and CEO Avigal Soreq said. "I look forward to partnering with Mark to accelerate the Company's growth strategy. He will be instrumental in helping us unlock the "sum of the parts" value of Delek's existing business while identifying growth opportunities to enhance the Company's scale and diversified revenue streams, including the alternative energy markets."

Mr. Hobbs joins Delek US from Citigroup, where he spent the past 11-years as a Managing Director, leading coverage efforts across the global downstream sector, including renewable fuels. He has worked closely with international oil companies, national oil companies and independent refiners advising on both strategic and capital raising transactions. Prior to Citigroup, Mr. Hobbs worked for other global financial institutions in leadership roles in both Houston and London. He holds a Master of Business Administration from Columbia Business School and a Bachelor of Business Administration from the University of Texas at Austin.

"I am excited to join the Delek team," said Mr. Hobbs. "The Company has tremendous momentum and is well-positioned for substantial growth with excellent opportunities in front of it. I look forward to working with the team to activate strategies that will enable Delek to grow in the future."

About Delek US Holdings, Inc.

Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing.  The refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.

The logistics operations consist of Delek Logistics. Delek US and its affiliates also own the general partner and an approximate 80 percent limited partner interest in Delek Logistics. Delek Logistics is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets.

The convenience store retail business operates approximately 250 convenience stores in central and west Texas and New Mexico.

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SOURCE Delek US Holdings, Inc.

FAQ

Who is Mark Hobbs in relation to Delek US Holdings?

Mark Hobbs has been appointed as Executive Vice President of Corporate Development at Delek US Holdings.

What are Mark Hobbs' qualifications for the position at Delek US?

Mark Hobbs has over 28 years of experience in the energy industry and previously led coverage efforts at Citigroup.

What are the expectations for Mark Hobbs' role at Delek US?

Hobbs is expected to enhance Delek's growth strategy and identify new opportunities in existing and alternative energy markets.

How might Mark Hobbs' appointment impact Delek US Holdings' stock?

Hobbs' leadership could positively influence the company's growth initiatives, potentially impacting investor confidence and stock performance.

When was Mark Hobbs announced as EVP of Corporate Development at Delek US?

Mark Hobbs was announced as EVP on September 6, 2022.