Cumberland Gulf Reorganizes Leadership

Petrowski stepping down as CEO; Bentas to serve as interim CEO

Published in CSP Daily News

Joe Petrowski, Lily Bentas

Joe Petrowski, Lily Bentas

FRAMINGHAM, Mass. -- Joe Petrowski will be stepping down as chief executive officer of the Cumberland Gulf Group as part of a leadership reorganization. Lily Bentas, chairman, will serve as interim CEO.

The Cumberland Gulf Group--which includes the Cumberland Farms convenience store chain and Gulf Oil LP, the branded marketer of energy products--said both companies are on track for a very strong fiscal 2013, which ends on Sept. 30. As part of its focus on continued growth in the years ahead, The Cumberland Gulf Group also announced new leadership roles within the organization.

As reported in a Raymond James/CSP Daily News Flash, effective Oct.1, Petrowski will be stepping down as CEO of the group and moving to a new role as a strategic advisor to management and the board of directors.

Joe Petrowski, Lily BentasBentas will work closely with Ari Haseotes, chief operating officer of the Cumberland Gulf Group and president of Cumberland Farms, as well as Ron Sabia, executive vice president of the Cumberland Gulf Group and President of Gulf Oil.

"This change comes at an exciting time for our organization. Thanks to thousands of dedicated team members throughout the Cumberland Gulf Group, we continue to achieve a high level of success, and are well positioned for future growth," said Bentas. "In particular, we would like to thank Joe for his many contributions that have helped to bring us to where we are today and look forward to his continuing assistance as a strategic advisor in the future."

Petrowski has had a long career in international commodity trading, energy and retail management, and public policy development. In 2005, he was named president and CEO of Gulf Oil LP, and elected to the Gulf Oil Board of Directors. In October of 2008 he was named as CEO of the now combined Gulf Oil and Cumberland Farms. He is also a board member of a number of influential organizations, including the New England Power Pool Board of Review, South Jersey Industries and the Financial Economic Institute of Claremont McKenna College.
He was a past President of both Consolidated Natural Gas in Pittsburgh and Louis Dreyfus Energy. He has written numerous articles on energy and public policy, regulation and market development and is a frequent guest on MSNBC, CNBC, Fox Business News and Bloomberg radio. He has been a contributing editor to The Wall Street Journal and has testified before Congress and several regulatory agencies on energy and international trade issues.

Petrowski graduated with honors from Harvard University in 1976 with a degree in economics and government.

Lily Haseotes Bentas is a daughter of the company's founders, and she has spent her entire working career in various positions of increasing significance within the company. In 1991, she was appointed CEO and held this position throughout almost two decades when the company experienced extraordinary growth. In Sept. 2008, she stepped down as CEO to focus her energy as chairman to strategically guide the company for the future.

Rhode Island's Salve Regina University has conferred on Lily Bentas an Honorary Doctorate in Business Administration (2006) and Massachusetts' Hellenic College conferred a Doctorate of Humanities Honorary Degree (2009). She is a member of the board of the Massachusetts Eye & Ear Infirmary (a Harvard Teaching Hospital). For a number of years she also served on the board of the National Association of Convenience Stores (NACS) and the National 4-H Council's Executive Board of Trustees.

Cumberland Farms is one of the largest privately held, family-owned c-store operators in the United States. With approximately 600 stores, Cumberland Farms has a market leading position throughout the Northeast, as well as a significant presence in the Mid-Atlantic region and Florida. Cumberland Farms is the parent company to Gulf Oil LP, one of the nation's largest wholesalers of refined petroleum products.

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