FutureFuel CEO Tom McKinlay leaves

  • After about two years in the position
  • Thanks for McKinlay
  • Search for a successor

(exechange) — Clayton, Missouri, May 29, 2024 — Tom McKinlay, chief executive of FutureFuel, leaves his position. As announced by FutureFuel Corp. in a news release and in a regulatory filing published on Wednesday, May 29, 2024, Thomas (Tom) McKinlay leaves his post as chief executive officer at the manufacturer of custom and performance chemicals and biofuels, after about two years in the role, effective September 30, 2024.

Generally speaking, it raises questions when a CEO leaves his post after a short tenure.

FutureFuel will undertake a search for a successor.

No reason given

In the announcement, FutureFuel did not explicitly explain the reason for the move.

Precise information regarding Tom McKinlay’s future plans was not immediately available.

“Retire”

FutureFuel said: “Tom McKinlay, FutureFuel’s Chief Executive Officer, informed FutureFuel that he will retire effective September 30, 2024.”

Share price decline since May 2023

The announcement follows a decline in FutureFuel Corp.’s share price of 39% since May 2023.

In the position of CEO since 2022

Tom McKinlay became CEO of the Company in 2022.

Tom McKinlay became the Company and FutureFuel Chemical Company’s Chief Executive Officer in July 2022 and Chief Operating Officer in January 2017.

McKinlay is a Chemical Engineer and business operations executive with over 30 years of global experience in the oil and gas industry.

He has extensive experience in the oil and gas industry on both sides of the Atlantic.

This includes responsibility for large scale refining and trading operations; midstream assets; renewables production and trading; retail; contract negotiation; and mergers and acquisitions.

For over two years prior to his hire by the Company, McKinlay was the owner and president of Gilrita Consulting Limited, a UK based independent downstream consultancy firm.

Prior to Gilrita Consulting Limited, he was Executive Vice President of Murphy Oil Corporation for more than three years, a role which latterly incorporated the role of Managing Director of Murco Petroleum Limited, a UK based oil refining company.

McKinlay was employed for approximately six years by Murphy Oil where he became Executive Vice President of Worldwide Downstream Operations.

McKinlay received a bachelor of science in chemical engineering (with honors) from the University of Strathclyde in Glasgow, UK in 1985.

No statement by Tom McKinlay

In the release announcing his departure as CEO of FutureFuel Corp., Tom McKinlay received thanks.

The announcement of his departure as CEO does not include a statement by Tom McKinlay.

The above text is an excerpt from the exechange report 23.2024 ($), publication date June 3, 2024.