Adams Resources & Energy, Inc. Announces Management Changes
September 07, 2017 at 05:02 pm EDT
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Adams Resources & Energy, Inc. announced that Thomas S. Smith has informed the company of his intent to retire as President and Chief Executive Officer of the company as of September 30, 2017, and as Chairman of the Board of Directors effective as of the date hereof. The Board of Directors has appointed Mr. Townes G. Pressler, a member of the Board of Directors to the position of Executive Chairman and Chairman of the Board of Directors. Mr. Smith will assist in the orderly transition of his duties and responsibilities to Mr. Pressler, who has served as an independent director of the company since 2011 and as Vice Chairman of the Board of Directors for the last 18 months.
The Company also announced the formation of the Office of the Chairman to be led by Mr. Pressler, whose additional members are Josh C. Anders, Executive Vice President and Chief Financial Officer of the company, Sharon C. Davis, Executive Vice President and Chief Operating Officer of the company, and Geoffrey L. Griffith, President of Gulfmark Energy, Inc., a wholly owned subsidiary of the Company. In addition, certain officers of the Company, including the members of the Office of the Chairman, will report to Mr. Pressler.
Adams Resources & Energy, Inc. is engaged in crude oil marketing, truck, and pipeline transportation, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States. The Company also conducts tank truck transportation of liquid chemicals, pressurized gases, asphalt, and dry bulk primarily in the lower 48 states of the United States, with deliveries into Canada and Mexico, and with 17 terminals across the United States. Its segments include crude oil marketing, transportation, and storage; tank truck transportation of liquid chemicals, pressurized gases, asphalt, and dry bulk; pipeline transportation, terminalling and storage of crude oil, and interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, and other chemicals. Its subsidiaries include Service Transport Company, Ada Resources, Inc., and Phoenix Oil, Inc.
ADAMS RESOURCES & ENERGY, INC. 
