Adams Resources & Energy Inc. Announces Executive Changes
September 27, 2012 at 04:03 pm EDT
Share
Effective September 26, 2012, Adams Resources & Energy Inc. Board of Directors determined that it was in the best interest of the company to separate the role of Chairman of the Board from the role of Chief Executive Officer. Accordingly, the Board approved the appointment of Frank T. Webster as the company's CEO replacing K. S. Adams, Jr., Chairman and Founder of the company. Mr. Adams will retain his position as Chairman of the Board.
Mr. Webster, age 63, has served as the company's President and Chief Operating Officer and as a director on the Board since May 2004. Mr. Webster was previously President and Chief Executive Officer of Duke Capital Partners, a business unit of Duke Energy. Mr. Webster will remain in his positions as the company's President and Chief Operating Officer as well as act as the company's CEO.
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. 
