Friday, 14 May 2010

FuelQuest Announces Former Shell International Executive Paul Stone Joins Advisory Board

FuelQuest, the leading on-demand software and services company for the global downstream energy industry, has announced the addition of Paul Stone, Chairman, Shell Turcas Petrol AS, to its advisory board. Stone is a veteran energy executive whose extensive experience within the oil products industry includes: retail, commercial, lubricants, and supply & distribution. In his thirty-two years at Shell, Mr Stone managed business expansion into countries such as Brazil, India, Indonesia, Mexico, Russia, Turkey and Ukraine. He is also an active member of the Energy Institute.

Commenting on the appointment, Mr Stone states: “I am delighted to be joining the FuelQuest Advisory Board, especially in this period when the company has ambitious growth plans in exciting and challenging markets within Latin America and the Far East. I look forward to working with Matt Tormollen and the other Board members in seeing the company deliver on its growth strategy.”

Mr Stone holds a PhD. in mechanical engineering from the University of Surrey and attended the Ashridge Management College for Business Management, the Oxford University Business School for International Economics, and INSEAD, France, for Strategic Leadership.

The FuelQuest advisory board members reflect the industry segments in which the company delivers products and services: convenience and fuel retail, energy trading and risk management, fleet card and fleet management, and petroleum transportation and logistics. Stone joins existing board members Rich Cilento, Glycos Biotechnologies; Mike Forbes, KAG Logistics; Ron Fulenchek, 7–Eleven; and Kenneth Kral, U.S. Bank Voyager Fleet Systems, Inc. This independent board meets regularly and provides FuelQuest with guidance on business strategy, market development opportunities and product direction.

“FuelQuest has a diverse customer base with significant international operations,” said Matt Tormollen, President and CEO of FuelQuest. “We plan to leverage Paul’s vast experience and industry knowledge as we develop and execute our growth strategy into new markets within the U.S. and internationally for both our fuel management and tax automation solutions.”
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