Ames, Iowa-based biorefinery owner and operator Renewable Energy Group (REG) announced Wednesday the resignation of chief executive Daniel J. Oh.
Oh, who also served on the company’s board of directors, will be replaced by long-time energy executive and REG board member Randolph Howard, who will serve as the company’s interim president and chief executive.
“The Board appreciates Dan’s work in guiding REG to its position as the industry leader with sales of over $2 billion in 2016, as well as his willingness to assist on transitional matters over the next several months. We wish him the best in his future endeavors,” said REG Board of Directors Chairmen Jeff Stroburg.
“I am extremely proud of the REG team and the success we achieved over the past ten years,” Oh said.
Oh’s resignation comes at a turbulent time for the biomass-based diesel producer, who, on Wednesday, responded to the Environmental Protection Agency’s (EPA) proposed Renewable Volume Obligations (RVO) for 2018 conventional and advanced biofuels and 2019 biomass-based diesel.
“This proposal offers REG and the American biomass-based diesel industry the opportunity to prove once again how we exceed expectations and we fully embrace that opportunity. The RVO is only one tool that aids biomass-based diesel growth and it is our job to convince policymakers that it should not restrain growth of American-made renewable fuel,” Howard said.
The interim chief asserted confidence in the US biodiesel industry’s ability to increase production to offset any potentially lost import volumes from Argentine and Indonesian producers while continuing to grow the renewable fuel industry domestically.