HF Sinclair Names Steve Ledbetter CEO Effective January 1, 2027, as Franklin Myers Moves to Executive Chairperson

HF Sinclair Corporation said on October 28, 2026 that Steve Ledbetter, its president and chief operating officer, will become chief executive officer and president on January 1, 2027. The current CEO, Franklin Myers, stays in the role until that date, then becomes executive chairperson. The change is disclosed in a Form 8-K dated October 28, 2026.

The announcement in brief

• Who: Steve Ledbetter, HF Sinclair's president and chief operating officer.
• What: He will become chief executive officer and president effective January 1, 2027.
• Succession: He succeeds Franklin Myers, who continues as CEO through that date to support the transition.
• Myers's next role: He remains an officer of the company and serves as executive chairperson.
• Company: HF Sinclair Corporation is an independent energy company headquartered in Dallas, Texas, that produces and markets high-value light products.

Who is Steve Ledbetter?

Steve Ledbetter is HF Sinclair's president and chief operating officer, a role he has held since July 2026. The company's release says he has more than 25 years of leadership experience across the energy, transportation and consumer services sectors. The release also describes a track record of delivering operational improvements, commercial growth and organizational performance.

Before joining HF Sinclair, he was president and chief executive officer of Shell Midstream Partners GP LLC. Earlier in his career, he served as president and chief executive officer of Jiffy Lube International. The table below lists his roles as the sources state them.

When does the CEO change take effect?

The change takes effect January 1, 2027. Until then, Myers remains CEO and Ledbetter remains president and chief operating officer.

What happens to Franklin Myers after the handoff?

Myers stays on as CEO through January 1, 2027, to support the transition. After that date he remains an officer of HF Sinclair and serves as executive chairperson. In that role he will advise on strategic matters related to the company's planned separation of its Lubricants & Specialties segment, according to the company's release. The release says the executive chairperson role lasts until HF Sinclair completes its previously announced plan to pursue a separation of that segment.

Why is HF Sinclair separating Lubricants & Specialties?

The release does not give a reason for the separation. It refers to a plan HF Sinclair announced earlier to pursue a separation of the segment. Myers's executive chairperson role runs until that separation is complete. The release gives no completion date.

Has the board set Ledbetter's pay as CEO?

Not yet. As of October 28, 2026, the board had not approved any changes to Ledbetter's compensation in connection with his appointment, according to the Form 8-K, as published on Stock Titan. The company says it will disclose any material change by filing an amendment to the report, as required by Item 5.02(e) of Form 8-K.

For the general mechanics of this disclosure, see how to read an 8-K Item 5.02 to verify an executive appointment.

Will Ledbetter join the HF Sinclair board?

The board plans to expand its size and appoint Ledbetter as a director at a later date, according to the company's release. The release gives no date for either step. The statement is a stated intention, not a completed board change.

How does this compare with other planned CEO handoffs?

A planned handoff with a set effective date gives the outgoing CEO time to stay on in a defined role. HF Sinclair's plan follows that pattern, with Myers moving to executive chairperson. For the difference between a planned handoff and an abrupt exit in an 8-K, see CEO succession 8-K: how to tell a planned handoff from an abrupt exit.

How to verify the announcement

The primary source is HF Sinclair's press release on Business Wire, dated October 28, 2026, titled "HF Sinclair Appoints Steve Ledbetter as Chief Executive Officer and President." The same text is Exhibit 99.2 to the Form 8-K on SEC EDGAR, and Stock Titan publishes the text of that Form 8-K.

The Form 8-K states that the board has not approved any changes to Ledbetter's compensation in connection with his appointment. It also says the company will file an amendment under Item 5.02(e) of Form 8-K if it discloses material changes to his compensation.

What's still unclear?

• Separation timing. The sources give no completion date for the Lubricants & Specialties separation, which determines when Myers's executive chairperson role ends.
• Pay. The board has not approved changes to Ledbetter's compensation as of October 28, 2026. The company has committed to an amendment if it discloses material changes. Myers's compensation as executive chairperson is not stated in these sources.
• Board seat. No date is given for Ledbetter's appointment as a director.
• Earlier roles. The release names Shell Midstream Partners GP LLC and Jiffy Lube International but gives no dates for either role.
• Source base. Every source here is HF Sinclair's own release or its Form 8-K. The "more than 25 years" figure is the company's description of Ledbetter's experience, not an independent assessment.