Miami, Fl., USA - April 14, 2014, Miami, Fl., USA - World Fuel Services Corporation, a fuel management company, announced that Paul H. Stebbins will step down as executive chairman of the board of directors immediately after the 2014 AGM.
Article continues below
Mr. Stebbins was appointed as executive chairman in 2002. He has served as an executive and director of the company since 1995. Prior to being named chairman of World Fuel, he served as president and chief operating officer from 2000-2002 and executive vice president of the company and president of the marine segment from 1995-2000.
Before joining the company, Mr. Stebbins and his partner, Michael Kasbar, co-founded Trans-Tec Services, Inc., a global marine fuel services company acquired by World Fuel in 1995.
Mr. Stebbins is a director of First Solar, Inc. and a member of the Business Round Table. He holds a bachelor's degree in government from Georgetown University.
The company also announced that the board of directors will appoint Michael J. Kasbar to the position of chairman in addition to his role as president and chief executive officer.
Mr. Kasbar assumed his current role in 2012. Previously, he served as President and Chief Operating Officer, responsible for driving the company's aggressive acquisition strategy and quest for operational excellence.
Mr. Kasbar joined World Fuel Services in 1995 as Director and Chief Executive Officer of the marine segment. Prior to joining the company, he and his partner, Paul Stebbins, co-founded Trans-Tec Services, Inc., a global marine fuel services company acquired by World Fuel Services in 1995.
Mr. Kasbar began his career in the energy industry in 1978 as a marine fuel broker in New York. In 1983, he started Gray Bunkering Services, a marine fuel and lubricants company. ■
Under an intense surge of arctic air, Friday morning will begin with the coldest temperatures so far this season across much of the central and eastern U.S. with blustery conditions and a piercing wind chill.