Dive Brief:
- HF Sinclair has named Steve Ledbetter, currently the company’s president and chief operating officer, as its next CEO and president, according to a Wednesday announcement.
- Ledbetter will succeed Franklin Myers, who has been serving as interim CEO since May. Myers will stay with the company as an executive chairman until Sinclair’s planned separation of its lubricants and specialties segment is complete.
- Ledbetter takes the top role on Jan. 1, 2027. His selection ends a turbulent time among the leadership ranks of the energy company.
Dive Insight:
Ledbetter has more than 25 years of leadership experience in the energy, transportation and consumer services sectors, the company said in its announcement. It added that he has “a track record of delivering operational improvements, commercial growth and organizational performance.”
He joined Sinclair in March 2023 as executive vice president for commercial and was named COO and president in July.
“Through his leadership and oversight of HF Sinclair’s commercial organization and operations, Steve has developed a deep understanding of HF Sinclair’s Refining, Renewables, Marketing and Midstream businesses,” said Leldon Echols, lead independent director of Sinclair’s board. “His commercial insights, operational expertise, and enterprise perspective make him well suited to lead HF Sinclair.”
Before joining Sinclair, Ledbetter worked for over two decades in a variety of roles with Shell. This culminated in him serving as president and CEO of Shell Midstream Partners.
Sinclair also plans to expand the board and add Ledbetter as a director at a later date.
“We have a strong foundation and a portfolio of high-quality businesses that position us well for the opportunities ahead,” said Ledbetter. We will continue to focus on safety, reliability, commercial excellence and disciplined capital allocation.”
Sinclair’s CEO role came into the spotlight in March when the company announced in its annual report that it would likely part ways with its CEO and chief financial officer.
President and CEO Tim Go had stepped away from Sinclair in February after Executive Vice President and CFO Atanas Atanasov told the company’s board of directors that certain actions taken by Go “created an unfavorable ‘tone at the top’ in relation to Sinclair’s 2025 disclosure processes,” according to the report.
After an internal review with support of outside legal counsel, the board “developed separate concerns” regarding Go’s communication approach during this period, according to the report.
Go stepped down in May, at which point Myers moved from board chairman to interim president and CEO.
