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Olmeta Retires from CITGO Board of Directors

The CITGO Petroleum Corporation Board of Directors and the CITGO President and Chief Executive Officer Carlos Jordá, announced today that Angel Olmeta is retiring from the Board, effective Thursday, April 2, 2020.

Angel had a long and successful career in the Venezuelan and international oil industry, occupying various positions within Petróleos de Venezuela S.A. (PDVSA), including strategic and corporate planning and corporate acquisitions, where he oversaw the purchase of CITGO by PDVSA in the 1980s. He also served as Executive Vice President of CITGO, Chief Operating Officer and a member of the Board. At the time of his retirement in 1998, he was a member of the Board of Directors of PDVSA.

Angel received a bachelor’s degree from the United States Military Academy at West Point and graduate degrees from Columbia University, New York University and the University of Colorado.

Last year Angel came out of retirement to join other industry experts as the CITGO Board of Directors navigated the challenging landscape. Since that time he, along with the rest of the Board, has worked tirelessly to enhance corporate governance and add significant depth to the Company’s strategic decision-making and long-term vision.

According to CITGO Board Chair Luisa Palacios, "Angel Olmeta will always be a mentor for all of us and I convey the sentiment of all of the board members when I say that it has been a true honor to work alongside such a remarkable professional," and CITGO President and CEO Carlos Jordá added, "There is no way to quantify the immense contribution Olmeta gave to the Venezuelan oil industry."

Upon his departure, Olmeta assured the Board he leaves satisfied that he was able to contribute to the well-being of CITGO and Venezuela.

Please join the Board and Carlos in bidding farewell to Angel, and expressing our deepest appreciation and gratitude for his commitment, dedication and contribution during his tenure on the CITGO Board of Directors.

 

 

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