Delek US Holdings has hired a veteran of Gulf Oil and PBF Energy to be its chief commercial officer and help refine its strategies.
Todd O’Malley comes to Brentwood-based Delek and its majority-owned Delek Logistics Partners after nearly a year of leading energy consulting and investment firm Citizens Companies and three years of leading TKO Energy Enterprises, his own advisory services firm. Before that, the 47-year-old was chief commercial officer at Gulf Oil for nearly two years and held various roles at PBF Energy, including president of its PBF Logistics general partnership.
“We are pleased to welcome Todd to the Delek family,” said Uzi Yemin, chairman, president and CEO of Delek US. “Todd brings a wealth of private equity, trading, capital markets, operations, and management expertise in the energy and renewable sectors to his role at Delek. This aligns our company for future growth with strong proven leadership.”
Separately, Yemin and his team recently promoted Nilah Staskus, who has been a senior vice president at Delek since mid-2019, to chief accounting officer. The company also has designated Staskus, 60, as its principal accounting officer for Securities and Exchange Commission reporting purposes. Staskus ran her own consulting firm before joining the local company and before that headed up finance operations in North America for Direct Energy.
Yemin and his team on Wednesday also filed Delek’s preliminary proxy statement and took that opportunity to respond more broadly to the criticism and calls for change that have come from CVR Energy, the Carl Icahn-controlled peer that last year bought about 15 percent of Delek. Calling CVR’s recent criticism of Yemin’s pay package spurious, the Delek team pointed to the higher shareholder returns it has generated in the past five years, including the return to investors of $265 million in 2019 alone.
Delek leaders also defended their work of late to refresh the board — CVR has put forward candidates for three of the body’s eight spots — and their work to improve the company’s environmental, social and governance practices.
“None of [CVR’s] nominees offer experience and skills that we believe are meaningfully different than our current board,” the directors said in a letter to investors. “In fact, we believe their common backgrounds would reduce the overall diversity of perspective and experience that is currently reflected on our board. It was also apparent from our interviews with each nominee that they each maintain personal relationships with CVR’s CEO, David Lamp, which raises serious concerns regarding their independence and commitment to acting in the interests of all Delek shareholders.”
Shares of Delek (Ticker: DK) were up nearly 4 percent to $23.75 late Wednesday morning. They have risen nearly 60 percent over the past six months, pushing the company’s market capitalization to $1.75 billion.
This story first ran in our partner publication the Nashville Post.