CITGO’s Board of Directors is focused on guiding CITGO toward our Vision and ensuring that it is achieved in a manner consistent with our corporate values.
The Board members are nominated and elected annually, as required by Delaware law, by CITGO Holding, Inc., our shareholder, who is owned by PDVSA. Since CITGO is a corporation formed under the laws of Delaware, the Board’s powers and duties are spelled out in Delaware law and our own bylaws.
The Board has two committees: the Audit Committee and the Compensation Committee.
Nelson Martínez, Chairman
Nelson Martínez graduated with a bachelor’s degree in chemistry (1973) and a master’s degree in physical chemistry (1974) from France’s University of Poitiers. He subsequently obtained a doctorate in chemistry from the University of Reading in the United Kingdom in 1978 and a master’s degree in technology management from the Massachusetts Institute of Technology (MIT) in 1993. Additionally, he has pursued management studies at Michigan and Harvard universities and at the nonprofit research institute, SRI International, in California.
Martínez began his career with Petróleos de Venezuela, S.A. (PDVSA) in 1980 at Intevep, the PDVSA Research and Development arm. Here, he gained experience in the development of catalysts and process technology. In 1987, he was appointed head of the catalysis section and for four years, beginning in 1990, he managed the refining processes development department at PDVSA Intevep.
In 1995, he was named leader of the technology management corporate group, a part of the PDVSA strategic planning coordination. In 1995, he was appointed manager of the PDVSA-Intevep planning function and developed strategic plans for the production of gasoline types with low sulfur content and other technology business plans related to heavy oil conversion and catalysts development.
From March 2000 to December 2002, he held the position of deputy manager of the refining and petrochemicals general division and also served as the designated team manager of new business developments.
In December 2002, he became managing director of refining at PDVSA Oriente, in Puerto La Cruz, Venezuela, with responsibility for all refinery operations. He also led the restoration of refining and transportation operations for crude oil and fuels in eastern Venezuela following the 2002 interruption.
In July 2003, he was appointed director of Petróleos de Venezuela and general manager of exploration and production in Eastern Venezuela. Beginning February 2004, he served as a director with the oversight of trade and supply, maintaining his responsibilities as president of the PDVSA Gas and Bitor subsidiaries.
From March 2005 until July 2006, he was managing director of PDVSA-UK in London. On his return to Venezuela, he worked as advisor to PDVSA America and in February 2007, he was appointed managing director of PDVSA Ecuador. In August of that year, he was appointed executive director of PDVSA America, with responsibility for all activities and projects in South America, in support of bilateral energy security treaties and joint ventures with state enterprises in the energy sector.
As part of his most recent duties as a Petróleos de Venezuela, S.A. (PDVSA) executive, Martínez has been executive director of PDVSA America, and was appointed managing director of PDVSA Argentina on May 30, 2011. He held this position until his appointment to CITGO on May 23, 2013.
Other accolades for Martínez include membership in the New York Academy of Sciences (1994) for his contributions to the study of catalysts in hydro treatment and catalytic cracking and several awards for research undertaken in the field of process technologies and catalysts. He also holds more than 50 international patents and papers in his field of work.
Sergio Antonio Tovar
Sergio Antonio Tovar was appointed to the CITGO Board of Directors in 2014. Tovar obtained a bachelor’s degree in chemical engineering from Universidad Simón Bolívar, in Caracas, in 1977. He also attended engineering management courses at the University of California at Irvine and at Cal State University in Long Beach, Calif. He joined PDVSA in 1978, having held positions of increasing responsibility at PDVSA’s petrochemical affiliate, Pequiven, other PDVSA affiliates as well as at the PDVSA corporate headquarters in Caracas. His most recent positions include executive director for trade and supply at PDVSA, as well as executive director for the administrative areas of the Orinoco Oil Belt. In addition to Spanish, he is fluent in English, Italian and Portuguese.
Jesús Luongo was appointed to the CITGO Board of Directors in 2014. Luongo holds a bachelor’s degree in chemical engineering from Universidad Central de Venezuela in Caracas (1984) and a master’s degree in refining from the French Institute of Petroleum in Paris (1987). He joined PDVSA affiliate Lagoven in 1984, as a process engineer at the Amuay Refinery. He held a variety of technical and supervisory positions at the Amuay Refinery, including supply manager, mid-conversion manager, and engineering process manager. In 2004, he was appointed general manager of the Paraguaná Refining Center. In addition to this role, he was appointed executive director of refining for PDVSA in 2007. He also sits on the boards of Interven, PDV Maintenance and PDVSA Engineering and Construction. He was decorated with the Simón Bolívar Order, Venezuela’s highest distinction, for his role in the recovery of the Paraguaná Refining Center following the 2002 work stoppage.
Antón Castillo was appointed to the CITGO board of directors in January 2015. He holds a degree in mechanical engineering from Escuela Superior de Ingeniería Mecánica y Eléctrica, in Mexico (1985). He also holds an advanced degree in natural gas engineering from Universidad de Oriente, in Venezuela (2002). He started his career with Petróleos de Venezuela, S.A. (PDVSA) in 1989 and has held a variety of technical and supervisory positions, mainly in the area of natural gas. In January 2013, he was appointed president of PDVSA Gas, S.A., and continues to hold this position.