SUGAR LAND, Texas, Nov. 1, 2017 /PRNewswire/ -- CVR Energy,
Inc. (NYSE: CVI) today announced that Jack
Lipinski, chief executive officer and president, will retire
on Dec. 31, 2017. Lipinski, who also
serves as the chief executive officer and president of CVR
Refining, LP and the executive chairman of CVR Partners, LP, will
be succeeded by David Lamp. At
first, and to facilitate a transition, Mr. Lamp will assume the
role of co-CEO effective Dec. 1, 2017. Effective Jan. 1, 2018, Mr. Lamp will assume the role of
CEO.
Carl Icahn, Chairman of the
Board, said, "On behalf of the Board of Directors and stockholders,
I would like to thank Jack for his leadership and focus. Over the
years, Jack has done an excellent job of building CVR into a
world-class company. Going forward, I welcome Dave. CVR is
well-positioned to succeed in the years to come. I have been
impressed with Dave's skillset and past successes, and I look
forward to seeing him take the reins at CVR."
Most recently, Mr. Lamp was President and COO of Western
Refining Company. Prior to Western Refining, Mr. Lamp was President
and CEO of Northern Tier Energy Corporation, which merged with
Western Refining. He previously served as COO and Executive Vice
President of HollyFrontier Corporation. In 2011, Holly and Frontier
completed a merger of equals and changed the name to HollyFrontier
Corporation. Mr. Lamp joined Holly in 2004 and held various roles,
including Vice President, Refinery Operations, Executive Vice
President, Refining and Marketing, and President. Mr. Lamp has more
than 37 years of technical, commercial and operational experience
in the refining and chemical industry.
Mr. Lipinski has served as CVR's chief executive officer since
2005 and has grown the business from 475 employees 12 years ago to
just under 1,500 employees today. Under his leadership, Mr.
Lipinski has guided the overall strategic direction of CVR Energy
and its subsidiaries and is responsible for increasing the scale
and diversity of its refining operations and expanding its crude
oil gathering and logistics operations. He also helped position CVR
Partners as a nitrogen fertilizer industry leader and launched the
initial public offerings for CVR Energy, CVR Refining and CVR
Partners.
Mr. Lipinski said, "I would like to sincerely thank all the
employees who have made CVR Energy into the exceptional company it
is today. It is through their hard work and dedication that we
became successful. I am lucky to have stood among them. Looking
forward, I am ready to finally take time for some much-needed rest
and relaxation after 45 years in the industry. I am pleased to
announce Dave Lamp as my successor.
Dave's experience and wealth of knowledge make him uniquely
prepared to lead the company going forward."
Mr. Lamp commented, "I would like to thank Mr. Icahn and the
Board of Directors for this opportunity. I would also like to thank
Jack for building such a successful company. I look forward to
meeting all CVR's employees and look forward to building upon past
success with future success and enhancing shareholder value."
About CVR Energy, Inc.
Headquartered in Sugar Land, Texas, CVR Energy is a diversified
holding company primarily engaged in the petroleum refining and
nitrogen fertilizer manufacturing industries through its holdings
in two limited partnerships, CVR Refining, LP and CVR Partners, LP.
CVR Energy subsidiaries serve as the general partner and own 66
percent of the common units of CVR Refining and 34 percent of the
common units of CVR Partners.
For further information, please contact:
Investor Contact:
Jay Finks
CVR Energy, Inc.
(281) 207-3588
InvestorRelations@CVREnergy.com
Media Relations:
Brandee Stephens
CVR Energy, Inc.
(281) 207-3516
MediaRelations@CVREnergy.com
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SOURCE CVR Energy, Inc.