BRENTWOOD, Tenn. — Entrepreneur Carl Icahn, through his IEP Energy Holding LLC, New York, has nominated three candidates for election to the Delek US Holdings Inc. board of directors. The nominees—all previous nominees possessing petroleum refining and marketing experience—are Randall Balhorn, vice president of business development at U.S. Development Group LLC; George Damiris, board member at Eagle Materials Inc., previously with HollyFrontier; and Robert Kent Jr., president of REK Energy, previously with Sinclair and CITGO.
In 2021, Delek US resisted a call by Icahn’s CVR Energy, a majority shareholder, to sell its more than 250 convenience stores. In a letter, the activist investor suggested that the company’s stock is undervalued and that it could benefit from selling the retail network. Shareholders rejected CVR Energy’s slate of board nominees.
“Delek US is committed to maintaining a strong, independent and diverse board that serves the best interests of its stockholders, employees, customers and partners, and regularly reviews opportunities to create and deliver value,” Delek US said in a statement responding to the 2022 nominations. “The nominating and corporate governance committee of the company’s board will evaluate the nominees and make a recommendation to the board of directors, which will make its recommendation to stockholders. Delek US stockholders are not required to take any action at this time.”
- Delek US is No. 32 in CSP’s 2021 Top 202 ranking of U.S. c-store chains by store count.
Brentwood, Tenn.-based Delek US is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience-store retailing. The refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Ark., and Krotz Springs, La. The company’s convenience-store retail business operates approximately 250 stores in central and west Texas and New Mexico. Delek US is the largest 7-Eleven licensee in the United States, although the companies have agreed to exit the licensing agreement. The retail c-store business has launched a new c-store brand, DK, and is rebranding all of the 7-Eleven stores to the new identity.
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