Kasbar to Replace Stebbins as World Fuel Services Chairman

by Ship & Bunker News Team
Monday April 14, 2014

World Fuel Services [NYSE:INT] (WFS) announced Friday that Paul H. Stebbins will step down as executive chairman of its board of directors, making way for President and CEO Michael J. Kasbar to take the position in addition to his current roles.

Stebbins will continue to serve as a member of the board of directors after the transition, which will take place after the company's 2014 annual meeting of shareholders and the board of directors.

"I'd like to thank Paul for his many years of service and leadership," Kasbar said.

"The company we built is in a great position for continued growth and I look forward to his thought partnership at a board level."

Stebbins was named chairman in 2002, after serving as president and chief operating officer from 2000 to 2002 and as executive vice president and marine segment president from 1995 to 2000, according to the WFS website.

WFS was named the fastest-growing company on the Fortune 500 between 2002 and 2012.