Bruce Shaw is a business leader in the petroleum product refining, transportation, storage and terminal services, and has a strong track record of performance and value creation. He has been a key driver in the significant growth of Holly Corporation (NYSE: HOC), with a $290M valuation in 1997 into the HollyFrontier (NYSE: HFC) and Holly Energy Partners L.P. (NYSE: HEP) entity with a valuation of almost $10 bn in December 2015, and served as HEP president from 2012 to 2015. Mr. Shaw consulted for HFC & HEP in 2016. Mr. Shaw is currently an Advanced Leadership Initiative Fellow at Harvard University.
He originally joined HOC in 1997 as Director of Corporate Development and VP of Corporate Development in 2001 (after an 18 month absence to serve as VP of privately-held Brierley & Partners in 2000-2001). After a four-month absence to serve as President of two affiliated HVAC companies (Standard Supply and Distributing Company, and Bartos Industries), he returned to HOC in 2008 as SVP and CFO. Mr. Shaw served in this capacity until the effective time of the merger between Holly Corporation and Frontier Oil Corporation (July 2011), and served for one year as SVP of Strategy and Corporate Development before being appointed President.
Mr. Shaw has made significant contributions to the Company. To mention a few: He negotiated deal terms for the $25 mm 2002 Woods Cross Refinery acquisition that has since consistently delivered $80-100 mm in annual EBITDA.He led financing efforts for the 2009 acquisition of two Tulsa refineries, combined ~ $100 mm purchase price (net to Holly/HFC), generating $100+ mm in annual EBITDA. He also was a key team member in HEP’s spin-out, with a 2004 valuation of ~ $300 mm (2015 valuation: $2.5+ bn), and in the 2011 merger of HOC and Frontier Oil that created the most profitable (in $/bbl capacity terms) refiner in NA and resulted in achieving HFC investment grade rating. He oversaw the development of the economics for the 2011 drop down of heritage Frontier assets to HEP, helping reach approval of the $340 mm transaction, and for building the business case for the UNEV Pipeline that allowed for Woods Cross Refinery’s expansion. Post construction, he worked closely with HFC’s CEO and HFC’s Chairman to negotiate terms for the sale of HFC’s 75% UNEV interest to HEP. He also oversaw the expansion of HEP’s crude gathering system in 2014.
Before joining Holly Corporation, Mr. Shaw was a consultant at McKinsey & Company, a leading management consulting firm, where he served clients in the energy, technology and transportation industries and focused on strategic, financial and operations engagements.
Mr. Shaw serves on several not-for-profit boards (including the Institute on Religion and Public Life based in NYC), and is a Visiting Lecturer at Southern Methodist University in Dallas, where he has taught courses on entrepreneurship since 2000.
He has earned an MBA from Dartmouth College’s Amos Tuck School of Business, where he received the Entrepreneurship Team Prize, and holds a B.S. in Mechanical Engineering, Magna cum Laude, from Texas A&M University, College Station, Texas.