HOUSTON, Aug. 10, 2020 /PRNewswire/ -- CITGO Petroleum Corporation announced today that Mr. Curtis Rowe, Vice President of Finance and Chief Financial Officer, is retiring effective Friday, August 21, 2020, after serving in various capacities over a 29-year career with the Company.
"We thank Curtis for all his years of service to CITGO, and in particular for the strong financial position that CITGO is in today, notwithstanding the current downturn across the energy industry," said President and Chief Executive Officer Carlos Jordá.
Under the leadership of Mr. Rowe and his team, CITGO entities have successfully refinanced about 90% of their total debt, including the most recent $1.125 billion private notes offering that exceeded the amount of maturing debt by nearly $500 million. "I felt that with the successful completion of the notes offering, it was the right time for me to move on to the next chapter in my life," said Mr. Rowe.
CITGO has engaged an external firm to assist with the search process for Mr. Rowe's successor.
In the interim, Mr. Rowe's direct reports will report directly to Mr. Jordá.
About CITGO Headquartered in Houston, Texas, CITGO Petroleum Corporation is a recognized leader in the refining industry with a well-known brand. CITGO operates three refineries located in Corpus Christi, Texas; Lake Charles, La.; and Lemont, Ill., and wholly and/or jointly owns 48 terminals, ten pipelines and three lubricants blending and packaging plants. With approximately 3,400 employees and a combined crude capacity of approximately 769,000 barrels-per-day (bpd), CITGO is ranked as the fifth-largest, and one of the most complex independent refiners in the United States. CITGO transports and markets transportation fuels, lubricants, petrochemicals and other industrial products and supplies a network of approximately 4,700 locally owned and operated branded retail outlets in 30 states and the District of Columbia. CITGO Petroleum Corporation is owned by CITGO Holding, Inc. For more information, visit www.CITGO.com.