World Fuel Announces Board Leadership Transition
World Kinect Corporation (NYSE: WKC), operating as World Fuel, said founder Michael J. Kasbar will step down as Executive Chairman, with independent director Ken Bakshi appointed Chairman of the Board effective December 31, 2026. Kasbar co-founded Trans Tec Services in 1984, the marine fuel brokerage whose acquisition laid the foundation for World Fuel, and spent more than four decades at the company including stints as CEO and Executive Chairman. Bakshi has served on the board since 2002 and brings more than three decades of international business, private equity and advisory experience; the board said an independent chair strengthens its oversight and effectiveness.
Key figures
- Incoming Role
- Independent Chairman
- Outgoing Role
- Executive Chairman (founder)
- Effective Date
- December 31, 2026
- Bakshi Board Tenure
- Board member since 2002 (20+ years)
AI analysis
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