Julio Quintana
About Julio Quintana
Julio Quintana (age 65) is an independent Class I director nominee at Calumet, Inc., slated for appointment to the Audit and Risk Committees upon election. He is a former CEO of Tesco Corporation (2005–2015), with prior senior roles at Schlumberger and nearly 20 years at Unocal; he holds a B.S. in Mechanical Engineering from USC. The Board has affirmatively determined he is independent and that he meets Nasdaq’s financial knowledge requirements for Audit Committee service .
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Tesco Corporation | President & CEO; earlier EVP & COO | 2005–2015 (CEO); COO prior to CEO | Led oilfield services company; public company CEO experience |
| Schlumberger | VP Integrated Project Management; VP Marketing (Americas) | 1999–2004 | Senior operating/marketing leadership in oilfield services |
| Unocal Corporation | Various operational/managerial roles | ~20 years (pre-1999) | Upstream operations leadership experience |
External Roles
| Company | Role | Committees / Leadership | Status |
|---|---|---|---|
| Newmont Corporation (NYSE: NEM) | Director | Member, Corporate Governance & Nominating; Chair, Leadership Development & Compensation | Current |
| SM Energy Company (NYSE: SM) | Chair of the Board | Chair, Executive Committee | Current |
| California Resources Corporation | Director | — | 2020–2024 (former) |
| Basic Energy Services | Director | — | 2016–2021 (former) |
Board Governance
- CLMT committees (subject to election): Audit Committee member and Risk Committee member; Audit Committee to be chaired by Karen Twitchell; Risk Committee chaired by Daniel Sajkowski .
- Independence: Board determined Quintana is an independent director under Nasdaq standards; Audit, Compensation, and Governance Committees comprised solely of independent directors .
- Board structure and oversight: Lead Independent Director (Karen Twitchell) presides in executive sessions and can call executive sessions of independent directors; she coordinates agendas and shareholder outreach with the Chair .
- Attendance baseline: In 2024, no CLMT director attended fewer than 75% of aggregated board/committee meetings; director orientation and ongoing education are in place (Quintana is a new nominee for 2025) .
Fixed Compensation (Director)
| Component | Amount / Terms | Notes |
|---|---|---|
| Annual cash retainer (Chair of Board) | $130,000 | 2024 non-employee director program |
| Annual cash retainer (Director) | $80,000 | 2024 non-employee director program |
| Equity retainer (Chair of Board) | ~$195,000 in RSUs | Time-based RSUs |
| Equity retainer (Director) | ~$100,000 in RSUs | Time-based RSUs |
| Lead Independent Director fee | $20,000 | Role fee |
| Committee chair/member fees | Audit chair $20,000; Audit member $10,000; Compensation chair $10,000; member $4,000; Governance chair $12,000; member $7,500; Strategy & Growth chair $10,000; member $5,000; all other committees chair $10,000; member $2,500 | Applies to Audit and Risk assignments (post-election) |
| Expense reimbursement & indemnification | Standard | As permitted by Delaware law |
| Deferred Compensation Plan | Eligible to defer fees into RSU-denominated accounts; plan may provide matching RSU credits at Committee discretion | Directors electing deferral received RSU matching in 2024 (examples cited) |
Note: Individual 2024 amounts for Quintana are not disclosed as he is a new nominee; table shows program structure applicable to non-employee directors .
Performance Compensation (Director)
| Element | Structure | Performance Metrics |
|---|---|---|
| Director equity | Time-based RSUs (annual grant) | No performance metrics; time-based vesting only |
Other Directorships & Interlocks
| Entity | Relationship to CLMT | Potential Interlock / Conflict Assessment |
|---|---|---|
| Newmont (gold mining) | No disclosed customer/supplier tie to CLMT | Unrelated industry; no related-party transactions disclosed by CLMT |
| SM Energy (E&P) | Upstream E&P; CLMT is specialty products/renewables | No related-party transactions disclosed by CLMT; industry adjacency but no direct dealings disclosed |
| Heritage Group influence (context) | Heritage has nomination rights; not tied to Quintana | Heritage-affiliated transactions (Monument Chemical, Asphalt Materials) reviewed; Board deemed immaterial, independence preserved |
Expertise & Qualifications
- Petroleum markets, refining operations, and E&P leadership; former public company CEO (Tesco) .
- Audit Committee financial knowledge per Nasdaq requirements; suitable for Audit Committee .
- Compensation governance expertise (chairs Newmont’s LD&C Committee); board leadership as Chair at SM Energy .
- Mechanical engineering background (USC) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Julio Quintana | — | — | As of April 14, 2025, beneficial ownership shows no shares; new nominee |
| Policy on hedging/pledging | Prohibited for directors and employees | No shorting, hedging, or pledging allowed under Insider Trading Policy | |
| Director equity alignment | Annual RSU grants; optional fee deferral into RSU accounts | Supports alignment; deferral plan features RSU matching at times |
Related-Party Exposure and Conflicts
- Related-person transactions policy in place; Audit Committee reviews/approves interested transactions over $120,000 .
- 2024 affiliate dealings with Heritage-related entities (Monument Chemical ~$7.3m sales; ~$0.1m purchases; Asphalt Materials ~$0.5m sales; IP royalty $0.9m) reviewed; Board concluded relationships immaterial and independence not impaired for non-employee directors. No Quintana-specific related-party transactions disclosed .
Governance Assessment
- Strengths:
- Independent nominee with deep industry and board leadership experience; slated for Audit and Risk roles; meets audit financial knowledge criteria .
- Robust board governance framework with majority independence, lead independent director, annual evaluations, and director education .
- Prohibitions on hedging/pledging enhance alignment; director equity retainers and deferral plan support ownership over time .
- Watch items / RED FLAGS:
- New nominee shows zero reported share ownership as of record date (expected to build via RSUs/deferrals post-election) .
- Multiple significant external commitments (Chair at SM Energy; committee chair at Newmont) may raise bandwidth questions, though no attendance issues can be assessed yet for CLMT .
- Heritage Group’s structural rights (board designation and committee presence) are a governance consideration for overall board independence dynamics, though not tied to Quintana individually .
Attendance data, insider trades, and director-specific compensation for Quintana are not disclosed in the 2025 proxy due to his new nominee status; items will become available after election and initial Form 4 filings .