US independent refiner HF Sinclair will part with its chief executive Timothy Go and chief financial officer Atanas Atanasov after concerns raised regarding disclosure processes.
The company expects to negotiate a mutually agreeable separation arrangement with Go and Atanasov, HF Sinclair said Friday in a filing with the US Securities and Exchange Commission (SEC).
HF Sinclair's board of directors on 24 February received and accepted a request from Atanasov to take a voluntary leave of absence from his duties, the company said in the filing. The board appointed the company's chief accounting officer and controller Vivek Garg as acting chief financial officer.
HF Sinclair previously disclosed that Go on 17 February also requested and received a leave of absence from the board. Current board chair Franklin Myers was elected as chief executive on a temporary basis.
According to Friday's SEC filing, on 26 January the company's audit committee began to assess "certain matters relating to the company's disclosure processes" after Atanasov raised concerns that certain actions taken by Go created an unfavorable "tone at the top" in relation to the 2025 disclosure processes.
The audit committee concluded that Go's actions did not create an unfavorable "tone at the top" and that the company's disclosure controls and procedures are effective, the SEC filing said. But the board said it developed separate concerns about the approach taken by Go in some communications to management during the 2025 disclosure processes, as well as concerns relating to actions taken by Atanasov "bearing upon the review process" and "the viability of his future working relationships with other members of the company's management team."
Delek did not disclose how long Myers and Garg were expected to serve in the temporary roles.
