Michael J. Kasbar
Chairman & CEO, World Fuel Services Corporation
Member
Mr. Stebbins is Chairman and Chief Executive Officer of World Fuel Services Corporation (NYSE:INT) and has served as an executive and director of the company since 1995. World Fuel Services is a global leader in the marketing, finance and supply of aviation, marine and land based fuel products and related services. With 1200 people operating from 45 offices in 25 countries, World Fuel specializes in spot and contract purchasing, providing delivery logistics and operational support at over 1500 airports and 1,000 seaports, financing credit, developing fuel hedging strategies and managing efficient back-office processing. During Mr. Stebbins’ tenure as Chief Executive, World Fuel’s revenue has grown from $1.9 billion to approximately $20 billion. Net income over the period had a compound annual growth rate of 36% with a total return to shareholders of 40%. The company is ranked 188 on the Fortune 500 and has been included in multiple lists of successful leading companies compiled by Forbes and Barron’s. For 23 years Mr. Stebbins has traveled extensively throughout the world building and supporting the company’s global network. In addition to his commercial activities, Mr. Stebbins’ duties include investor and media relations.
A graduate of Georgetown University (B.A. Government, 1979), Mr. Stebbins started his career in public policy in the energy sector with the Forum for Resources, a non-profit organization established to better inform the public about the need to manage scarce fuel and non-fuel mineral resources. In 1981 he became involved in private business where he was introduced to the marine fuel industry. In 1985 he and his partner, Michael Kasbar, co-founded Trans-Tec Services, Inc., a global marine fuel services company acquired by World Fuel in 1995. Prior to being named Chairman of World Fuel, Mr. Stebbins served as President and Chief Operating officer from 2000-2002 and President of the marine segment and Executive Vice President of the parent company from 1995-2000.
Since November 2006, Mr. Stebbins has also served as a director and member of the Audit, Compensation and Governance committees of Phoenix, Arizona-based, First Solar, Inc. (NASDAQ:FSLR), the world’s leading manufacturer of thin film solar panels. He also serves on the board of trustees of the New World Symphony, a world renowned orchestral academy based in Miami and directed by Michael Tilson Thomas.
Mr. Stebbins is the author of numerous articles on industry issues and a frequent speaker and panelist at international conferences. Over the years Mr. Stebbins has lectured on leadership, entrepreneurship, business innovation, corporate governance, fuel purchasing strategies, fuel quality and delivery standards, environmental issues related to sulfur content in marine fuels, and hedging strategy. He has lectured at Oxford University’s College of Petroleum Studies and helped develop the curriculum for and teach the American Society for Testing and Materials (ASTM) Marine Fuels Training Course. Mr. Stebbins served for many years on the ASTM Committee on Marine Fuels (D2.E7), as a member of the U.S. delegation to the International Standards Organization (ISO) working group on bunkering protocol (TC 28 / SC 6 / WG 8), and a member of the U.S. delegation to the ISO working group on marine fuel specifications (TC 28 / SC 4 / WG 6). Mr. Stebbins was a founding member of the International Bunker Industry Association (IBIA) and served as its first Vice Chairman and member of the executive council.
Mr. Stebbins has lived in Washington, D.C., New York City, Connecticut and New Jersey. He and his wife, DiAnne, have been residents of Miami since 1998 and have 3 children in college, Thaddeus (21), Juliana (19) and Carina (19). Mr. Stebbins has been a practitioner of traditional Okinawan Go-Ju Ryu karate for 15 years. He and his family enjoy skiing and SCUBA diving.