PBF Energy's Strategic CFO Transition: Joseph Marino Steps Up as Karen B. Davis Retires

PBF Energy Inc. (NYSE: PBF), a leading independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, lubricants, and other petroleum products, has announced a significant leadership transition within its executive ranks. Joseph Marino, currently the company's Vice President and Chief Accounting Officer, is set to assume the pivotal role of Chief Financial Officer, effective October 1, 2025.

This strategic appointment follows the planned retirement of Karen B. Davis, who has served as the esteemed CFO since 2014 and will step down on September 30, 2025.

Karen B. Davis's departure marks the end of a remarkable tenure at PBF Energy. She joined the company in 2010, playing an instrumental role in its foundational stages, including the successful initial public offering.

Throughout her time as CFO, Ms. Davis has been a driving force behind PBF Energy's financial discipline and robust growth. Her extensive experience, garnered from previous high-level positions at Valero Energy Corporation, TOSCO Corporation, and Exxon Corporation, has been invaluable in steering PBF through various market cycles and expansions.

Chairman and Chief Executive Officer Thomas D. O'Malley, Jr. lauded her contributions, stating, "Karen has been an indispensable member of the PBF management team since our inception and has been instrumental to our success. Her commitment, tireless work ethic and financial acumen have been invaluable to our growth and the growth of the company.

On behalf of the Board of Directors and the entire PBF organization, I want to thank Karen for her contributions and wish her a long, happy and well-deserved retirement.”

Succeeding Ms. Davis, Joseph Marino brings a wealth of institutional knowledge and financial expertise to the CFO position.

Mr. Marino joined PBF Energy in 2011 and has steadily risen through the ranks, demonstrating exceptional leadership and a deep understanding of the company's operations and financial intricacies. Prior to his tenure at PBF, he honed his skills at PricewaterhouseCoopers LLP. Mr. O'Malley expressed great confidence in Marino's ability to seamlessly transition into the CFO role.

"I am very pleased to announce Joe's promotion to Chief Financial Officer. Joe has been a key member of the PBF finance team since 2011 and has consistently demonstrated the leadership and financial expertise necessary to take on the CFO role. We are fortunate to have such a qualified individual in Joe to step into the role and continue to drive PBF's commitment to financial excellence,” O'Malley remarked.

This carefully planned transition underscores PBF Energy's commitment to continuity and strong leadership.

Mr. Marino's long-standing experience within the company ensures a smooth handover, maintaining the strong financial stewardship that has characterized PBF Energy's operations. As the company continues to navigate the evolving energy landscape, his leadership will be crucial in upholding its strategic objectives and delivering value to shareholders.