Caltex CEO to retire, search for replacement begins
The leader of Caltex Australia for the past decade has announced his upcoming retirement.
Managing director and chief executive Julian Segal, who started at the petrol and convenience business in 2009, will stay on board until a suitable replacement is found.
Caltex chairman Steven Gregg said Segal has made significant contributions to the company during his tenure.
“Julian has delivered outstanding outcomes for Caltex’s shareholders, improving operational and financial performance and steering the company through a number of challenges and transitions,” Gregg said.
“We are pleased that Julian will continue to work to execute our strategy and ensure continuity of leadership as we implement plans to find his successor.”
Julian oversaw major milestones in the petrol business, such as the closure of the Kurnell refinery, the establishment of Ampol Singapore, our expansion into New Zealand and the Philippines, and developing Caltex’s international fuel sourcing and supply chain, as well as driving an improved convenience offer in Australia.
According to Gregg, Segal will be leaving an agile and resilient Caltex that is poised for further growth. Segal said leading the business has been an honour, and that he is committed to leading the business through the search for his replacement.
“I am proud of what’s been achieved for shareholders, customers, employees and our community partners,” Segal said. “Caltex’s strength has always been its ability to adapt and transform and the company has an exciting future. I look forward to continuing to work with my colleagues to deliver the Caltex strategy as the Board works through the succession process.”
Caltex will deliver its half-year results later this month. It expects group earnings before interest and tax to be just $120-140 million, compared to the $443 million it reported in the 2018 half, due to difficult conditions rising from a slowing Australian economy.