Investor pushing three board candidates for shareholders’ meeting next month
The Carl Icahn-controlled company pushing for big changes at Delek US Holdings has followed through on its threat to go to court over the compensation of Chairman and CEO Uzi Yemin.
CVR Energy on Thursday filed suit in the Court of Chancery of the State of Delaware asking for permission to inspect Delek records related to Yemin’s pay going back to 2012. Texas-based CVR has been prodding Delek since early this year, about nine months after it built up a 15 percent stake in the Brentwood-based company. CVR first pushed Yemin and his team to convert some of their refineries and sell off other assets and then focused on the CEO’s compensation, alleging that he has been overpaid in his main role at Delek US while also taking in money from the company’s Delek Logistics Partners affiliate.
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Todd O Malley
Delek US Holdings has hired a veteran of Gulf Oil and PBF Energy to be its chief commercial officer and help refine its strategies.
Todd O’Malley comes to Brentwood-based Delek and its majority-owned Delek Logistics Partners after nearly a year of leading energy consulting and investment firm Citizens Companies and three years of leading TKO Energy Enterprises, his own advisory services firm. Before that, the 47-year-old was chief commercial officer at Gulf Oil for nearly two years and held various roles at PBF Energy, including as president of its PBF Logistics general partnership.
“We are pleased to welcome Todd to the Delek family,” said Uzi Yemin, chairman, president and CEO of Delek US. “Todd brings a wealth of private equity, trading, capital markets, operations, and management expertise in the energy and renewable sectors to his role at Delek. This aligns our company for future growth with strong proven leadership.”