Calumet, Inc.: New Nominees Announced for the Board of Directors
Calumet, Inc. (NASDAQ: CLMT), a leading independent refiner, transporter, and marketer of petroleum products, made an important announcement on March 17, 2025. The Company revealed that Julio Quintana and Karen Narwold have been nominated as candidates for election to Calumet’s Board of Directors (the “Board”) at the upcoming Annual Meeting of Stockholders (the “Annual Meeting”).
Jim Carter and Dan Sheets, who have been valuable members of the Board since the transition from a master limited partnership (MLP) to a C-Corporation, have decided not to seek re-election and plan to retire at the end of their terms following the Annual Meeting.
Background on the Departing Directors
Jim Carter, a seasoned executive with extensive experience in the energy industry, joined the Board in 2016. His expertise in finance, accounting, and operations significantly contributed to the successful transformation of Calumet from an MLP to a C-Corporation. Dan Sheets, who joined the Board in 2017, brought a wealth of knowledge in corporate governance and risk management. Both directors played crucial roles in steering Calumet through periods of growth and change.
Introducing the New Nominees
Julio Quintana, an accomplished business executive with over 25 years of experience, has been nominated to the Board. He has held various leadership positions in the energy, industrial, and financial sectors. His expertise in strategy, finance, and operations will be valuable assets to Calumet as it continues to grow and adapt in a competitive industry.
Karen Narwold, an experienced attorney with a strong background in corporate law and governance, has also been nominated to the Board. Her extensive knowledge in regulatory compliance and risk management will be essential in ensuring Calumet’s continued adherence to legal and ethical business practices.
Impact on Individual Investors
The departure of Jim Carter and Dan Sheets from the Board may create a sense of uncertainty for individual investors. Their collective experience and expertise have been significant contributors to Calumet’s growth and success. However, the addition of Julio Quintana and Karen Narwold brings fresh perspectives and new skill sets to the Board, which could potentially lead to new opportunities and innovations for the Company.
Impact on the World
Calumet’s announcement has broader implications for the energy industry as a whole. The Company’s successful transformation from an MLP to a C-Corporation paved the way for other energy companies to consider similar transitions. With the retirement of Jim Carter and Dan Sheets, Calumet is poised to continue its growth trajectory under the guidance of its new Board members. This could potentially lead to increased competition and innovation within the industry, ultimately benefiting consumers and driving progress towards a more sustainable energy future.
Conclusion
Calumet, Inc.’s announcement of new Board nominees marks an important milestone in the Company’s history. The departure of Jim Carter and Dan Sheets, who have been instrumental in guiding Calumet through its transformation, creates an opportunity for fresh perspectives and new skill sets. The addition of Julio Quintana and Karen Narwold brings valuable expertise and experience that will contribute to Calumet’s continued growth and success. The impact of these changes extends beyond the Company, potentially leading to increased competition and innovation within the energy industry as a whole.
- Calumet, Inc. announced new Board nominees: Julio Quintana and Karen Narwold
- Jim Carter and Dan Sheets, who have been valuable members since the MLP-to-C Corporation transition, are retiring
- Quintana brings expertise in strategy, finance, and operations
- Narwold brings extensive knowledge in regulatory compliance and risk management
- Impact on individual investors: uncertainty, but potential for new opportunities and innovations
- Impact on the world: increased competition and innovation within the energy industry
