World Kinect appoints energy executive Greg Piper to board of directors

MIAMI - World Kinect Corporation (NYSE:WKC), a $2.2 billion market cap energy management company offering a steady 3.73% dividend yield, announced Friday the appointment of Greg Piper to its Board of Directors, adding an experienced energy sector executive to its leadership team. According to InvestingPro data, the company maintains a GOOD financial health score, suggesting strong operational fundamentals.

Piper brings more than 35 years of operational, mergers and acquisitions, and business development experience in the global energy, commodity, and agriculture sectors. Since 2020, he has worked as a senior independent adviser to executive management, company boards, and investment fund managers. The appointment comes as World Kinect’s stock has shown a 16% return over the past year, with InvestingPro analysis indicating generally low price volatility, making it potentially attractive for stability-focused investors.

"He is an accomplished energy and commodities executive who brings a wealth of operational and management expertise, which will be a strategic asset for our company," said Michael J. Kasbar, chairman and chief executive officer of World Kinect.

Prior to his advisory role, Piper served as CEO of CP Energy from 2014 to 2020, where he led the private midstream energy company that specialized in crude oil and natural gas services. His previous experience includes serving as CEO of Gavilon Energy, where he managed the energy group’s spin-off and subsequent sale to NGL Energy Partners in 2014.

Piper also held the position of Chief Commercial Officer at Gavilon Group, directing strategic initiatives including the sale of its global agriculture division to Marubeni in 2013.

He holds a Bachelor of Science in Petroleum Engineering from the Colorado School of Mines and an MBA from the University of Texas McCombs School of Business.

World Kinect Corporation, headquartered in Miami, provides energy management services to more than 150,000 customers across aviation, marine, and land-based transportation sectors, according to the company’s press release statement. Unlock deeper insights into World Kinect’s performance metrics and growth potential with InvestingPro, which offers exclusive analysis and additional ProTips for informed investment decisions.

In other recent news, World Kinect Corporation has announced an 18% increase in its quarterly cash dividend, raising it to $0.20 per share from the previous $0.17. This increase reflects the company’s commitment to maximizing shareholder value and is part of its broader financial strategy. Ira M. Birns, the President and Chief Financial Officer, emphasized the company’s history of shareholder returns, noting nearly $500 million returned through dividends and share repurchases over the past five years. Additionally, World Kinect has made significant changes in its top management, promoting Ira M. Birns to President while he continues as CFO, and elevating John P. Rau to Chief Operating Officer. Both executives will report to Michael Kasbar, the Chairman and CEO. These leadership changes aim to strengthen World Kinect’s operational capabilities as it navigates the global energy distribution and solutions sector. The company’s recent developments highlight its strategic focus on financial health and leadership to drive future growth.

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