Delek US announces executive role changes

Today, Delek US Holdings, Inc. (NYSE:DK), a company specializing in petroleum refining, disclosed a significant change in its executive team. With a market capitalization of $1.1 billion and operating under significant debt pressure, the company announced that Reuven Spiegel, currently the Executive Vice President and Chief Financial Officer, has been appointed to also serve as the Executive Vice President of Delek Logistics (NYSE:DKL), effective February 12, 2025. This announcement comes ahead of Mr. Spiegel’s planned transition from his role as Chief Financial Officer, which will take place on March 1, 2025. According to InvestingPro data, this leadership change comes at a challenging time for Delek, with 8 analysts recently revising their earnings expectations downward for the upcoming period.

Mr. Spiegel has been with Delek US Holdings since May 2020, overseeing the company’s financial operations, during which time the company has maintained a consistent dividend growth track record. In addition to his current duties, he has been a member of the board of directors of the general partner of Delek Logistics Partners, LP since July 2014. His extensive experience includes leadership roles in the banking sector, having served as the Chief Executive Officer of Israel Discount Bank Ltd. (TLV: DSCT) from 2011 to 2014, and as the CEO of IDB Bank of NY from 2006 to 2010.

The company’s filing stated there are no reportable transactions between Mr. Spiegel and Delek US Holdings that would fall under Item 404(a) of Regulation S-K, indicating no conflicts of interest in his appointment.

Delek US Holdings, Inc., headquartered in Brentwood, Tennessee, operates in the energy sector with a focus on petroleum refining. The company’s stock is traded on the New York Stock Exchange under the ticker symbol DK, currently trading at relatively low revenue multiples despite facing profitability challenges. This executive change is a part of the company’s ongoing strategy to align its leadership team with its operational and financial objectives. For a comprehensive analysis of Delek’s financial health and future prospects, investors can access detailed insights through InvestingPro, which offers exclusive access to advanced metrics and expert analysis.

The information provided in this article is based on a press release statement from Delek US Holdings, Inc.

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