HF Sinclair Corp. (NYSE:DINO) stock fell sharply Wednesday after the company said CEO Tim Go has voluntarily taken a leave of absence and disclosed that its audit committee is reviewing aspects of its disclosure controls.
Board Chair Franklin Myers has been appointed interim CEO and president. The refiner’s shares dropped nearly 14% following the announcement.
HF Sinclair said its 2025 earnings were released on an unaudited basis but expects to file its annual report on time. The company added that its audit committee found the issues under review do not affect the financial results announced Wednesday.
On the earnings call, executives did not offer further insight into the leadership change or the ongoing disclosure review beyond what had already been made public. Myers stated that the company will share updates as more details become available.
Fourth-Quarter Earnings
The leadership update came alongside a strong fourth-quarter earnings rebound.
HF Sinclair reported adjusted net income of $221 million, or $1.20 per diluted share, compared with an adjusted net loss of $191 million, or $1.02 per diluted share, in the same period a year earlier. Adjusted earnings …