CStore Decisions

  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • Alcoholic Beverage Playbook
    • Candy Playbook
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Tobacco Playbook
  • Products
    • 2022 Hot New Product Contest
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2022 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization

Par Petroleum Implements Major Changes

By CSD Staff | October 16, 2015

Share

par petroleumPar Petroleum has made  some major changes in order to improve the company.

Effective Oct. 20, 2015, Par Petroleum Corp. will change its name to Par Pacific Holdings, Inc. The name change is meant to more accurately reflect Par’s growth strategy of building and acquiring businesses. The company’s ticker symbol, PARR, will remain the same. Along with the name change, the company has appointed William Pate, a current board member, as president and CEO.

Par’s current CEO, Joseph Israel, will remain on the Board of Directors of Par Pacific and will be named president and CEO of the refining, marketing and logistics business, which will be renamed Par Petroleum LLC.

“Bill is exceptionally capable with a proven record of building shareholder value. I have worked closely with him in successfully developing companies for over twenty years. He has been instrumental in establishing the successful entity that Par is today. His extensive experience in the energy space, combined with his expertise in identifying, funding and developing acquisitions, will help us accelerate our acquisition strategy to take advantage of the current commodity price environment,” said Melvyn Klein, chairman of the Board of Directors. “We are delighted Joseph is taking the lead as president of Par Petroleum to specifically focus on enhancing the refining, marketing and logistics piece of our business.”

“I look forward to working with Joseph and the rest of the Par Pacific management team, who have performed an outstanding job in building our refining, marketing and logistics operation in Hawaii. I am also delighted to be associated with our other holdings including the natural gas development efforts of Piceance Energy LLC, which continues to produce strong results despite the current commodities price environment,” Pate said, commenting on his appointment.

“It is an exciting time in the energy and infrastructure space, with ample opportunities for development and growth.  Par’s past performance speaks for itself and I plan to expand our existing footprint by developing and acquiring market-leading energy and infrastructure businesses, leveraging our approximately $1.4 billion NOL tax asset and our talented management team and Board of Directors,” Pate added.

Prior to joining Par, Pate was the co-president of Equity Group Investments (“EGI”), the Chicago-based private investment firm founded and led by Sam Zell.  Through an affiliate, EGI is the largest shareholder of Par. In his 21 years at EGI, Pate led a team that completed successful investments in many business sectors including energy, power, infrastructure, logistics, chemicals, financial services and health care.  Many of these investments included holding companies that had tax attributes and multiple lines of business, similar to Par. Pate is the former chairman of the Board and a long-time director of Covanta Holding Corporation, an international owner/operator of energy-from-waste and power generation facilities.

Related Articles Read More >

7-Eleven Brings Back Pumpkin Spice Coffees
Colonial Oil Industries Hires New Division President
Stewart’s Shops Opens New Location
7 Ways to Grow Summer Beverage Sales
Safe Shop Assured

CStore Decisions Newsletter

Sponsored Content

  • Create Some Positivity at the Pump: 3 Ways to Fuel Customer Experiences
  • How Minuteman Food Mart Ensures a Consistent Customer Experience Across 44 Stores
  • Three Challenges Disrupting C-Store Operations and How to Overcome Them
  • Why Wait? Converting to E15 is easy.
  • It’s time you profited from your checkout line

Get the Magazine

Subscribe Now!
Subscribe Now!

Manage Current Subscription
CStore Decisions
  • New CSD Print Subscription
  • Manage current print subscription
  • CBD Retail Trends
  • CStore Products
  • NAG Convenience Conference
  • Convenience Directions
  • Rack Prices
  • Subscribe to CSD’s E-Newsletter
  • About CStore Decisions
  • Advertise

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search CStore Decisions

  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • Alcoholic Beverage Playbook
    • Candy Playbook
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Tobacco Playbook
  • Products
    • 2022 Hot New Product Contest
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2022 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization