WASHINGTON, July 5, 2017 – Daniel J. Oh has resigned as president and chief executive of Renewable Energy Group, the Ames, Iowa-based company said today. Oh also stepped down from REG’s board, which appointed long-time director Randy Howard as interim president and CEO.
REG did not give a reason for Oh’s departure, although it said in a statement that Oh has agreed to assist in transitional matters over the next several months.
“I am extremely proud of the REG team and the success we achieved over the past 10 years,” Oh said in the statement. For its part, the board said it appreciates Oh’s work “in guiding REG to its position as the industry leader with sales of over $2 billion in 2016.”
Howard has been a REG board member since February 2007, serving on both the company’s Audit Committee and Nominating and Governance Committee and as chair of the board’s Risk Management Committee. He was a senior executive with Unocal Corporation for 33 years, including time as president of its large North Asian Energy business.
In the statement, the board said it was confident Howard “will help sustain and advance the momentum in our near-term strategic initiatives, including our efforts to increase the profitability from our base biodiesel business, grow our renewable hydrocarbon diesel platform and capture additional downstream margins by continuing to expand our market penetration.”
REG is an international producer of biomass-based diesel and, according to its website, North America’s largest producer of advanced biofuel, with 14 active biorefineries and a feedstock processing facility.
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