PBF Energy Inc. (NYSE:PBF) announced Martin J. Brand, a Managing Director with Blackstone, has resigned from PBF Energy’s board of directors effective June 26, following a reduction in Blackstone’s holdings in PBF Energy, and its subsidiaries, through a secondary offering which closed on June 17. PBF is located at One Sylvan Way
Since 2008, Mr. Brand, along with David Foley, has led Blackstone’s investment in PBF Energy and has provided valuable insight and assistance as the company has acquired assets and expanded as a company.
PBF Energy’s Executive Chairman, Thomas D. O’Malley, said, “We thank Martin for his service to PBF Energy and wish him success in his future endeavors. Blackstone has been an appreciated and committed investor for PBF, and with its support we have grown from a start-up organization into an established independent refiner with a separate logistics company, both with bright futures.”
About PBF Energy Inc.
PBF Energy Inc. (NYSE: PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in Delaware City, Delaware, Paulsboro, New Jersey and Toledo, Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally sensitive manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.
PBF Energy Inc. also indirectly owns the general partner and approximately 50.2% of the limited partnership interest of PBF Logistics LP (NYSE: PBFX).