HONOLULU -- Bob Maynard is stepping down as president and chief executive officer of Aloha Petroleum Ltd., reported Pacific Business News. Richard Parry, former president of Mid Pac Petroleum LLC, will replace Maynard as the company's CEO on May 1, the Honolulu-based company announced Wednesday. Maynard will become nonexecutive chairman of the board, the report added.
Maynard has been with Aloha Petroleum for 17 years, the first 13 as chief financial officer. He became CEO in 2004 after the death of longtime chief executive Tom Malone.
Parry served as president of Mid Pac Petroleum [image-nocss] until July 2007. He started in the petroleum business with BP Australia, then BHP Petroleum in Australia, Houston and Honolulu. After Tesoro Petroleum acquired some of BHP's assets, Parry stayed with the company, and after a stint in Seattle, returned to Honolulu as a consultant to K-1 Ventures and its subsidiary, The Gas Co.
"Richard Parry is highly experienced in the petroleum industry, and he fits well within Aloha Petroleum's corporate culture of caring," Maynard said in a statement.
In mid-2004, Parry and K-1 Ventures established Mid Pac Petroleum. The company, now a subsidiary of Koko'oha Investments Inc., operates 50 gas stations under the 76 brand—an exclusive arrangement—on Oahu, Maui, the Big Island and Kauai. It owns 36 and operates 15 of the locations, as well as owns terminals and trucking operations. It has about 12% retail market share in the state, according to its website.
Aloha Petroleum is the only independently owned petroleum marketer in the state. The company has 300 employees and operates nearly 80 gas stations on the Big Island and Oahu, more than 30 of which operate under the Island Mart convenience store name.
The company now known as Aloha Petroleum began its history in Hawaii back in the early 1900's as Associated Oil, a division of Tidewater Oil, which was then owned by J. Paul Getty, according to Aloha's website. About the time of statehood, the company was acquired by Phillips 66. After changing ownership in 1977, the company became Aloha Petroleum Ltd.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.