Timothy Go to Assume CEO Role Effective January 1, 2016
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (“Calumet” or “the Partnership”) a leading independent producer of specialty hydrocarbon and fuels products, announced today that its general partner’s Board of Directors has named energy industry veteran Timothy (“Tim”) Go as the Partnership’s incoming Chief Executive Officer, effective January 1, 2016. Mr. Go, 48, joins Calumet with more than 25 years of experience serving in executive-level roles at leading companies operating in the petroleum refining and specialty products markets. As CEO, Mr. Go will lead and execute Calumet’s long-term strategy to become the premier global producer and distributor of specialty petroleum products.
Mr. Go joins Calumet from Flint Hills Resources, L.P., a wholly owned subsidiary of Koch Industries, Inc., where he most recently served as Vice President, Operations. Previously, Mr. Go spent nearly 20 years in various senior level operations and management roles at ExxonMobil Corporation. As a trained chemical engineer, Mr. Go brings a deep base of technical and operational knowledge to Calumet. In recent years, Mr. Go led the integration of Flint Hills Resources’ $2 billion acquisition of PetroLogistics’ propane dehydrogenation plant; managed the operations of multiple specialty chemical plants; and established centers of operational excellence for Flint Hills Resources. Earlier in his career, Mr. Go managed ExxonMobil’s 187,000 barrels-per-day Strathcona refinery in Edmonton, Canada, while also serving in a variety of operations, crude logistics and strategic planning roles for ExxonMobil in the Gulf Coast and around the world.
Bill Hatch will remain Interim CEO of Calumet until December 31, 2015. At the conclusion of his term as Interim CEO, Mr. Hatch has agreed to remain with Calumet as an Executive Advisor to the Partnership. In this newly created role, Mr. Hatch will assist Calumet in broad-based efforts to streamline business processes and improve operational efficiencies throughout the organization.
“Following a comprehensive search process, our Board of Directors has unanimously selected Tim Go to be the next CEO of Calumet,” stated Fred Fehsenfeld, Jr., Chairman of the Board. “Tim’s decades of experience as a senior refining executive, coupled with his significant technical knowledge of the markets in which we operate, position him for long-term success in this pivotal role. We are extraordinarily pleased to welcome Tim to the Calumet family.”
“On behalf of our Board of Directors, we want to thank Bill Hatch for his ongoing commitment to Calumet and look forward to leveraging his knowledge and expertise in his new role as Executive Advisor to the Partnership, once his tenure as Interim CEO concludes,” added Fehsenfeld.
“Having served as Calumet’s CEO for nearly 25 years, I believe Tim is the right person to lead Calumet as we transition into this next phase of growth, guided by a strategy that seeks to focus our collective energies toward becoming the premier global producer of specialty petroleum products,” stated Bill Grube, Executive Vice Chairman of Calumet.
“Calumet is a dominant player in the specialty petroleum products industry, having earned the admiration and respect of its competitors, customers and investors through an unwavering commitment to operational excellence, product quality and profitable growth,” stated Tim Go, incoming CEO of Calumet. “I am honored by the opportunity to lead Calumet alongside a deep bench of talented executives who remain committed to growing the reach of our specialty products business on a global scale, while adhering to core values that have served to define Calumet for the last quarter century.”
About Calumet Specialty Products Partners, L.P.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is a master limited partnership and a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products; produces fuel products including gasoline, diesel and jet fuel; and provides oilfield services and products to customers throughout the United States. Calumet is based inIndianapolis, Indiana and has fourteen manufacturing facilities located in northwest Louisiana, northwest Wisconsin, northernMontana, western Pennsylvania, Texas, New Jersey, Oklahoma, eastern Missouri and North Dakota.