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World Fuel Services Announces Name Change to World Kinect
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
World Fuel Services Corporation changes its name to World Kinect Corporation, reflecting its transformation into a diversified energy and solutions provider. The company will begin trading under the new ticker symbol 'WKC' on June 16, 2023.
Positive
The name change reflects the company's commitment to evolving alongside customers in the energy transition.
World Kinect aims to meet customers' growing energy transition needs with an expanding portfolio of products and services.
Negative
None.
Reflects Company’s Ongoing Transformation into a Diversified Energy and Solutions Provider
Company will begin trading under new name and ticker symbol “WKC,” effective June 16, 2023
MIAMI--(BUSINESS WIRE)--
World Fuel Services Corporation (NYSE:INT) (“Company”) today announced it has changed its corporate name to World Kinect Corporation.
The Company’s shareholders approved the name change during today’s Annual Meeting. The Company will begin trading under its new name and ticker symbol (NYSE: WKC) effective tomorrow, June 16, 2023.
This change is intended to better reflect the Company’s ongoing transformation into a more resilient, diversified energy and solutions provider. As the energy transition unfolds, this name change reflects our commitment to continue evolving alongside our customers. We will support their core energy requirements, while also meeting their growing energy transition needs with an expanding portfolio of products and services, empowering them to navigate their sustainability journeys most successfully.
“For nearly 40 years we have been dedicated to providing a comprehensive and reliable supply of energy, logistics and finance solutions for aviation, marine and land-based customers worldwide,” said Michael J. Kasbar, Chairman and Chief Executive Officer. “Through our relationships with more than 150,000 customers globally, we are uniquely positioned to understand their operational requirements and provide innovative products, services and digital solutions to meet their evolving needs. Our new name, World Kinect, represents our role as a bridge, connecting our customers to the resources, expertise and support they need to successfully navigate their energy transition journeys.”
Company executives will ring the New York Stock Exchange closing bell today to celebrate this occasion. The Company will discuss this name change and broader corporate strategy at a forthcoming Investor Day event. Further details will be provided shortly.
About World Kinect Corporation
Headquartered in Miami, Florida, World Kinect Corporation is a leading global energy management company, offering a broad suite of energy advisory, management and fulfillment services, digital and other technology solutions, as well as sustainability products and services across the energy product spectrum. In addition to our core energy offerings to customers in the transportation sector, we have expanded our product and service offerings to include energy advisory services, sustainability and renewable energy solutions, as well as supply fulfillment for natural gas and power. We continue to focus on advancing the energy transition to lower carbon alternatives through expanding our portfolio of energy solutions and providing customers with greater access to sustainably sourced energy.
headquartered in miami, florida, world fuel services is a leading global fuel logistics company, principally engaged in the marketing, sale and distribution of aviation, marine and land fuel and related products and services on a worldwide basis. world fuel services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide. the company's global team of market makers provides deep domain expertise in all aspects of aviation, marine and land fuel management. aviation customers include commercial airlines, cargo carriers, private aircraft and fixed base operators (fbos), as well as the united states and foreign governments. world fuel services' marine customers include international container and tanker fleets, cruise lines and time-charter operators, as well as the united states and foreign governments. land customers include petroleum distributors, retail petroleum operators, and industrial, commercial, and govern
