CFO at Sugar Land refiner steps down

Tracy Jackson has resigned as CFO of Sugar Land-based CVR Energy, with immediate effect. She is replaced, on an interim basis, by Dane Neumann, VP – Finance and Treasurer.

No reason was given for Ms. Jackson’s departure and no severance details were disclosed. [UPDATE 08-25-21 – The company filed an update. Ms. Jackson will get $789,000 through August 2024.]. However, there is clearly some turmoil at the company, as Matthew Bley also resigned last month as the Chief Accounting Officer. Ms. Jackson joined CVR in 2018 from San Antonio-based Andeavor. Mr Bley joined the same day and had worked with Ms. Jackson at Andeavor.

CVR operates two refineries in Kansas and Oklahoma as well as related pipelines and infrastructure. Activist investor, Carl Icahn, owns 72% of CVR, which has a market capitalization of $1.3 billion.

Until recently CVR also owned a 15% stake in Delek, a convenience store fuel retailer. Mr. Icahn lost a recent proxy battle with Delek when his three proposed board nominees failed to get elected. As a result, in June, CVR issued a special dividend of $492 million comprising $241 million in cash and the remainder in shares of Delek.

Mr. Neumann joined CVR in June 2018 and also worked for Andeavor and its affiliates from March 2011 until June 2018.

Jeffrey Conaway has been appointed Chief Accounting Officer, replacing Mr. Bley. He joined the company in August 2020, having previously been with Patterson-UTI Energy

SEC filing – CVR refining – CFO steps down

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