Fed’s Powell opens door to potential rate cuts at Jackson Hole
NEW YORK - PBF Energy Inc. (NYSE:PBF) announced Tuesday that Joseph Marino will be promoted to Chief Financial Officer effective October 1, 2025, as current CFO Karen B. Davis retires from her executive role. The leadership change comes as the company manages a significant debt burden of $3.2 billion, according to InvestingPro data.
Davis will rejoin the company’s Board of Directors, where she previously served from January 2020 through December 2022, according to a company press release.
Marino, 46, has been with PBF Energy since 2011 and has served as the company’s Treasurer since 2020. Prior to his current role, he held various finance and accounting positions within the organization, including Assistant Controller from 2015 to 2020. Before joining PBF, Marino worked at Ernst & Young LLP, where he represented corporations in the oil and gas industry and other sectors.
"Joe has been with PBF since 2011, holding finance and accounting roles of increasing responsibility," said Matt Lucey, PBF Energy’s CEO. "His expertise will be instrumental as we continue to advance our financial initiatives."
Lucey also acknowledged Davis’s contributions, noting that she had been "instrumental in strengthening our organization" and that her "commitment to talent development has transformed our finance team."
PBF Energy operates oil refineries and related facilities across five states: California, Delaware, Louisiana, New Jersey, and Ohio. The company is also a 50% partner in St. Bernard Renewables, a joint venture focused on producing sustainable fuels.
In other recent news, PBF Energy reported its financial results for the second quarter of 2025, revealing a narrower-than-expected loss. The company announced earnings per share (EPS) of -$1.03, which was better than the forecasted -$1.11. Additionally, PBF Energy’s revenue exceeded expectations, coming in at $7.48 billion compared to the anticipated $6.98 billion. These results indicate that the company performed better than analysts had projected in terms of both earnings and revenue. Despite the positive financial performance, investor sentiment appeared cautious, as reflected in the pre-market trading activity. The company’s stock experienced a decline, attributed to broader market conditions and concerns about future guidance. This recent development highlights the ongoing challenges and uncertainties in the market environment. Investors continue to closely monitor PBF Energy’s financial health and strategic direction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.