The board expressed its appreciation for McArthur's hard work and dedication over the last three years. Greinke said, "Under Chuck's leadership, United Fuel's customer base and geographic reach grew significantly and he established a foundation for building a first class operation. I am looking forward to expanding on his efforts as we also focus on maximizing our profitability. As a holder of almost 52% of the company's common stock, I am committed to building shareholder value and have chosen to limit my annual salary to $1 as the chairman and CEO of United Fuel."
Greinke, 53, became president of Southern Counties Oil Co. (SC Fuels) in 1987 and acquired ownership of the company in 1991. Today, under his leadership as CEO, SC Fuels and its related companies have operations in 11 western states and serve more than 35,000 customers annually, delivering commercial bulk fuels, wholesale branded fuels and alternative fuels at competitive pricing.
He became chairman and majority shareholder of United Fuel in October 2007 when he merged SC Fuels' commercial cardlock division, Cardlock Fuels System Inc., with United Fuel. Greinke currently is a member of the executive committee of the Society of Independent Gasoline Marketers of America (SIGMA) and a past director of the California Independent Oil Marketers Association (CIOMA). His board experience includes being a founding member of the board of directors for Pacific Ethanol Inc., an advisory board member for Solis Capital Partners and board member of the Bank of Hemet.
United Fuel & Energy, based in Midland, Texas, is engaged in the business of distributing gasoline, diesel, propane and lubricant products primarily in certain markets of Texas, California, New Mexico, Arizona and Oklahoma. United Fuel represents the consolidation of numerous companies, the most significant of which are the Eddins-Walcher Co. and Cardlock Fuels System. United Fuel intends to continue to expand its business through strategic acquisitions and organic growth initiatives. United Fuel currently engages in the following activities: cardlock operations, wholesale fuels and lubricants to commercial customers and propane distribution to commercial and residential users. United Fuel conducts its operations through more than 25 branch locations and more than 100 unattended fuel sites.Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.