BRENTWOOD, Tenn. -- Delek U.S. Holdings Inc. and Delek Logistics Partners LP have announced that executive vice president and chief financial officer Assaf "Assi" Ginzburg has decided to resign his role as CFO effective Nov. 4 to pursue a new opportunity in Isreal. Delek has commenced the process of identifying Ginzburg’s successor.
In late August, Compañía de Petróleos de Chile SA (COPEC) entered into a definitive agreement with Delek U.S. Holdings Inc. for COPEC, through its U.S. subsidiary Copec Inc., to acquire 100% equity interest in Mapco Express Inc. for $535 million.
Neither Ginzburg nor Delek U.S. directly cited the sale as a reason for his resignation.
Following his departure, Ginzburg will remain as a member of the board of directors of Delek Logistics GP LLC, the general partner of Delek Logistics Partners LP.
Ginzburg has been with Delek U.S. since 2004 and Delek Logistics since its inception in 2012, working in a variety of senior management and financial roles.
“On behalf of everyone at Delek, I want to thank Assi for his years of service to our companies,” said Uzi Yemin, chairman, president and CEO of Delek U.S. Holdings and chairman and CEO of the general partner of Delek Logistics Partners LP.
“Assi has been a friend and partner of mine for many years, and he has been an integral part of our growth and development since joining us in 2004,” he continued. “He has also served in numerous management capacities and provided solid financial leadership since becoming our CFO in 2013. During this time, we completed a multiyear investment strategy in refining, we grew Delek Logistics Partners LP and, most recently, we completed steps to unlock the value of our retail assets while positioning us for future growth.”
Delek U.S. Holdings is a diversified downstream energy company with assets in petroleum refining, logistics and convenience-store retailing. The refining segment consists of refineries operated in Tyler, Texas, and El Dorado, Ark.
Delek U.S. Holdings and its affiliates also own approximately 62% (including the 2% general partner interest) of Delek Logistics Partners, a growth-oriented master limited partnership (MLP) focused on owning and operating midstream energy infrastructure assets.
The retail segment markets motor fuel and convenience-store merchandise through a network of approximately 348 company-operated c-stores under the Mapco Express, Mapco Mart, East Coast, Fast Food and Fuel, Favorite Markets, Delta Express and Discount Food Mart brand names.
Delek U.S. Holdings also owns approximately 48% of the outstanding common stock of Alon USA Energy Inc.