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# HF Sinclair Names Steve Ledbetter CEO As Myers Joked About 'How Long Temporary Actually Is'
- URL: https://www.bullished.co/hf-sinclair-names-steve-ledbetter-ceo-as-myers-joked-about-how-long-temporary-actually-is-36695f8e/
- Published: 2026-10-28T13:37:07.000Z
- Updated: 2026-10-28T13:37:07.000Z
- Description: Ledbetter takes over January 1, 2027, while Franklin Myers moves to executive chair to oversee the lubricants spinoff.
- Author: Matteo Parrino
- Tags: Earnings, DINO, Industry: Energy

[HF Sinclair](https://www.bullished.co/tag/dino/), the refiner that also runs lubricants, renewable diesel, marketing and midstream businesses, will hand the CEO job to President and COO Steve Ledbetter on [January 1, 2027](https://www.sec.gov/Archives/edgar/data/1915657/000191565726000071/dino-20261028.htm?ref=bullished.co), CEO Franklin Myers said on the company's third-quarter earnings call Wednesday. Myers moves into an executive chair role.

## A wry handoff

Myers announced the change on the call by saying the company had "determined exactly how long temporary actually is." In his closing remarks he called his stint "my temporary assignment here as CEO."

He said he will stay involved for the first couple of quarters of next year to ensure a smooth transition and oversee the spinoff of the lubricants business. The company's [8-K](https://www.sec.gov/Archives/edgar/data/1915657/000191565726000071/dino-20261028.htm?ref=bullished.co) shows the board appointed Ledbetter as CEO and President on October 26, effective January 1, 2027, and expects to add him to the board at a later date.

Myers said the board "has taken a deliberate approach at looking at inward at the team" for its next leader, because it believes the talent is already in the company.

## Ledbetter's priorities

Ledbetter listed his aims: operate safely, compliantly and reliably, drive commercial excellence, invest selectively and keep a disciplined approach to capital allocation. Asked by a Goldman Sachs analyst about his vision, he said "nothing changes" on priorities.

He did stress growing steadier cash flows in midstream and marketing, because the current margin environment "will come back to normal."

He said the company returned $572 million to shareholders in the quarter, $93 million in dividends and $479 million in buybacks. Since the March 2022 Sinclair acquisition it has returned about $5.7 billion and cut its share count by over 73 million shares. The board declared a quarterly dividend of $0.525 per share.

## A strong quarter behind the change

Acting CFO Vivek Garg said third-quarter adjusted net income was $2.1 billion, or [$11.75](https://finance.yahoo.com/markets/stocks/articles/hf-sinclair-dino-q3-earnings-105003197.html?.tsrc=rss&ref=bullished.co) per diluted share, against $459 million, or $2.44, a year earlier. Adjusted EBITDA reached $3 billion versus $870 million; refining contributed $2.6 billion of it, helped by tight fuel supply, elevated crack spreads and small refinery waivers granted by the EPA.

The lubricants spinoff and the shutdown of the Mississauga refining assets are both targeted for completion in the middle of next year, Myers said.

Ledbetter's first big capital decision is due in the first quarter of 2027, when he said the company expects a final investment decision on the first phase of its Westline Connect pipeline expansion.

### Sources

- [HF Sinclair (DINO) Q3 Earnings and Revenues Surpass Estimates](https://finance.yahoo.com/markets/stocks/articles/hf-sinclair-dino-q3-earnings-105003197.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [dino-20261028](https://www.sec.gov/Archives/edgar/data/1915657/000191565726000071/dino-20261028.htm?ref=bullished.co) — sec.gov
- [HF Sinclair Non-GAAP EPS of $11.75 beats by $3.92, revenue of $10.86B beats by $1.97B](https://seekingalpha.com/news/4658724-hf-sinclair-non-gaap-eps-of-1175-beats-by-392-revenue-of-1086b-beats-by-197b?ref=bullished.co) — seekingalpha.com
- [HF Sinclair names Ledbetter as new President and CEO, effective January 1 (DINO:NYSE) | Seeking Alpha](https://seekingalpha.com/news/4658805-hf-sinclair-names-ledbetter-as-new-president-and-ceo-effective-january-1?ref=bullished.co) — seekingalpha.com
- [HF Sinclair started Overweight at Piper as quality refiner with strong return of capital commitment | Seeking Alpha](https://seekingalpha.com/news/4658290-hf-sinclair-started-overweight-at-piper-as-quality-refiner-with-strong-return-of-capital-commitment?ref=bullished.co) — seekingalpha.com

### More on HF Sinclair

- [HF Sinclair Earns $2,015 Million In Third Quarter, Up From $403 Million, And Picks Steve Ledbetter As CEO](https://www.bullished.co/hf-sinclair-earns-2-015-million-in-third-quarter-up-from-403-million-and-picks-steve-9deaf087/)

[All HF Sinclair (DINO) coverage →](https://www.bullished.co/tag/dino/)