prior to pandemic-driven lockdowns that wiped out a significant portion of demand for our products. One would be hard-pressed to mistime a major acquisition more than I had. As a result of our predicament, the company took on leverage while revenue and margins declined precipitously. Tat period of uncertainty was a time when rash business decisions could have resulted in a different outcome than what occurred. As an organization, we triaged our busi-
ness, identified incremental steps we could take to ensure we maintained our assets and prepared ourselves to emerge on the other side of the pandemic stronger than ever. While we never wavered in faith, we confronted the brutality of the impacts to our business head on. We learned a number of valuable lessons from that experience. Perhaps the biggest takeaway is to go slowly when making major decisions by establish- ing a series of decision points, or measures, that could be taken depending on a range of possible outcomes. Today our company stands stronger than ever before, operation- ally and financially, because of this iterative decision-making approach.
IRU: What advice would you give to someone who is just starting out in their career? Lucey: Find a job or field that you can poten- tially develop into a career that will allow you to pursue one of your passions. Ten find the smartest people in your organization, chase them around like a rabid dog, and get them to mentor you. Work harder and longer. Be bold, creative, and entrepreneurial. Take risks, always be willing to learn and be
willing to jump (or be thrown) into the deep end of the pool even if you are uncomfortable. Troughout my career, I have looked to learn and absorb knowledge from those around me and I have been fortunate to have had some very astute, seasoned mentors. Every experience, good or bad, provides a lesson
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and an application for the next time. By always being willing to learn, we can avoid getting too comfortable, which is a breeding ground for complacency and stagnation, which can put the brakes on your career.
IRU: How do you balance the competing demands of your personal and profes- sional life? Lucey: Find the right balance. Whenever work calls I make myself available and the same is absolutely true for my family. I guess I have been fortunate that we have been able to juggle both. Obviously, finding that balance would be nearly impossible unless you are surrounded by the right teams at work and at home. I believe it is really important for our kids
to know that they are our top priority, but also learn the importance of hard work and dedication to your craft. We have to be dis- ciplined when it comes to working outside the office; resisting the urge to continually be “at work” is critically important. In fact, time spent with my family helps me gain perspective on work, as my kids are never shy about giving advice on how I can get better.
IRU: What aspect of investor relations do you find most valuable? Lucey: IR takes the lead in telling PBF Energy’s story and ensuring the corporate narrative is consistent and that PBF’s messages are being delivered and understood. IR is able to correct misperceptions and ensure factual accuracy across the sell- and buy-side communities. Importantly, our investor relations team spends time with all our investors and analysts, which maximizes the efficient use of c-suite time.
IRU: How can IR add the most value to your leadership team? Lucey: IR brings the outside perspective to internal discussions. While serving as a pri- mary corporate external storyteller, IR also relays investor and other external feedback
to the leadership team, which in turn helps shape how we, as a company, communicate externally and also assists in developing longer-term corporate strategy.
IRU: What do you think are the key ingre- dients to a compelling investor narrative? Lucey: Telling investors what you are going to do and then doing it is critical, from informing them of the company’s goals to maintaining a consistent narrative and then delivering on those stated goals. Importantly, the company and our story are fluid, and the narrative should build and evolve over time as milestones are achieved and new goals are established.
IRU: What’s the one thing you take on every business trip? Lucey: Funny enough it’s not a toothbrush or razor. I always get a toothbrush and shaving kit from the front desk at the hotel. I like to travel light and see it as a bit of a challenge to try and see what the minimum is I can get by on. I do usually bring something to read. I like to keep my mind occupied when I travel but also use the time in transit to unwind and prepare for the meetings or events to come.
IRU: If you weren’t CEO, what would you be doing? Lucey: I would be working. I have five kids to keep entertained and fed, which calls for a lot of planning and resources. Whatever that alternate role might be, it would be important for me to maintain the same work-life balance that allows me the opportunity to spend a lot of time with family.
IRU: Where is your happy place? Lucey: Usually with extended family where the kids are at their happiest running around with their cousins and all is right with the world; while at the same time, having good refining operations coupled with strong markets – that combination keeps me pret- ty happy. IR
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