Michael Kasbar on energy affordability
From World Kinect Corporation CEO Michael Kasbar talks about the company's new name and ticker symbol · · New York Stock Exchange
“The energy equation is important for everyone—airlines, shipping companies, trucking companies, manufacturers—anyone that uses energy faces issues of affordability, decarbonization, availability, and operational integrity. We're investing in solutions, including digital ones, to address these challenges.”
On , Michael Kasbar, Chairman & Chief Executive Officer at WORLD KINECT CORP, spoke about energy affordability during World Kinect Corporation CEO Michael Kasbar talks about the company's new name and ticker symbol on New York Stock Exchange.
About Michael Kasbar
In September 2023, Michael Kasbar, Chairman and CEO of World Kinect Corporation, discussed the company's rebranding and new ticker symbol in an interview on NYSE Floor Talk. He described the company's history as a "story of transformation," noting that sales grew from $500 million in 1995 to $59 billion in the prior year, ranking it number 70 on the Fortune 500. Kasbar stated that the name change to World Kinect reflects the company's evolution into a more diversified energy provider, offering not only jet fuel and marine fuels but also sustainable aviation fuel, renewable diesel, biodiesel, on-site solar, and digital solutions. Kasbar emphasized that the company serves as a strategic partner for customers in the transportation, commercial, industrial, and governmental sectors, helping them manage energy costs that can account for up to 30% of operating expenses. He said the "energy diet" is becoming more diverse, with no single solution for affordability, decarbonization, and availability, and that World Kinect operates in 200 countries and territories to address these local challenges. Kasbar added that the company is investing in conventional, sustainable, and digital energy solutions to help clients improve their operations.