CITGO Appoints New President and CEO

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CITGO Appoints New President and CEO


HOUSTON -- CITGO Petroleum Corp. named Nelson P. Martinez as president and CEO. He is also taking on the role of chairman and member of the board of directors.

Martinez, who brings with him more than 30 years of experience in the energy industry, fills the positions previously held by Alejandro Granado.

In his new role, Martinez will oversee all aspects of the operations of the Houston-based company. CITGO sold 14.7 billion gallons of refined products in 2012 and has a network of nearly 6,000 branded retail outlets.

"I look forward to building upon the success of the company, furthering our vision to remain a world benchmark corporation by continuing to deliver top-quality products to our customers, while maintaining a strong commitment to the environment and the communities where we have a presence and beyond," he said.

Prior to joining CITGO, Martinez served as managing internal director for Petroleos de Venezuela, S.A. (PDVSA), the national oil company of the Bolivarian Republic of Venezuela. CITGO is owned by PDV America Inc., an indirect, wholly-owned subsidiary of PDVSA.

Martinez also held a variety of other positions within PDVSA, including head of the catalysis section in the research and development center; manager for the processes development department; leader of the technology management corporate group; deputy manager of the refining and petrochemicals general division; manager of new business development; managing director of refining for PDVSA Oriente; and most recently, executive director for PDVSA America and managing director for PDVSA Argentina.

"CITGO is well positioned to continue to be a leader in the refining industry and to continue the social responsibility investments for which it is known," Martinez said. "I am proud to continue the legacy and be a part of that."

Martinez earned a bachelor's degree in chemistry and a master's degree in physical chemistry from France's University of Poitiers. He also holds a doctorate in chemistry from the University of Reading in the United Kingdom and a master's degree in technology management from the Massachusetts Institute of Technology. In addition, he studied management at Michigan University, Harvard University and at the nonprofit research institute, SRI International, in California.

CITGO’s new CEO holds more than 50 international patents and papers, and was elected to the New York Academy of Sciences for his contributions to the study of catalysts in hydro-treatment and catalytic cracking.