DALLAS -- Titan Global Holdings Inc. has appointed Marty Anderson as CEO of Appalachian Oil Co. (Appco). It has also appointed Rick Jones as the president of Appco's Retail Division.
Andersonwho had been named president of the Retail Division in late Augustwill focus his efforts on continuing organic growth in existing markets as well as on expanding strategic partnerships and relationships to lead the company's mission to increase the number of biofuels products. He will also pursue strategic acquisitions that will expand Appco's footprint and to vertically [image-nocss] integrate its supply chain.
Anderson joined Appco in 2001, serving as vice president of marketing. He was named president of the Convenience Store Division in 2006 and was responsible for 56 company-operated c-stores.
Since joining AppcoMarty has been a driving force within the company, said Bryan Chance, president and CEO of Titan Global Holdings. His leadership has been instrumental in growing Appco's Retail Division, managing key partner relationships and positioning Appco to be a leading petroleum distribution brand in the markets it serves. Marty has earned the respect of the over 550 employees of Appco and he is the ideal candidate to lead Appco through what we plan to be an unprecedented period of growth.
Anderson said, It is an honor to take the reins of Appco from Jeff Benedict and Jim Maclean, two visionaries in petroleum distribution in the Southeast United States. I am thrilled with the opportunities in front of Appco. We have an industry-proven management team, an aggressive strategic vision and the strategic and financial support of Titan and its equity partners. I couldn't be more excited.
Taking over as president and heading up the Retail Division, Jones is a 30-year veteran of the c-store industry.
Blountville, Tenn.-based Appco, distributes petroleum products to more than 160 dealers in the southeastern United States and owns and operates 56 convenience stores. It has more than 550 employees and maintains partnerships with terminal operators and major oil companies. Appco is the first acquisition of Titan Global Holding's Titan Global Energy, formed recently to aggregate energy assets that can provide revenue and earnings growth opportunities such as the continued vertical integration of the supply chain, as well as future acquisitions to complement Appco's existing retail and wholesale distribution footprint.
Titan Global Holdings is a diversified holding company with a portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources. Through nine wholly owned subsidiaries, it takes advantage of synergies between subsidiaries to maximize revenue growth, internal development and strategic acquisitions, it said. In fiscal 2006, Titan generated in excess of $109 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million.
The Titan Global Energy Division aggregates traditional and next-generation energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
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