World Kinect: Founder Kasbar to step down as Executive Chairman Dec 31, 2026; Bakshi appointed Independent Chair

WORLD KINECT CORP

Michael J. Kasbar steps down as Executive Chairman effective Dec 31, 2026; he remains on the Board.
Ken Bakshi, board member since 2002, appointed independent Chairman of the Board effective same date.
No disagreement with company cited; severance payments per expired employment agreement become payable.
Kasbar co-founded Trans Tec Services in 1984, predecessor to World Fuel; four decades with company.
CEO Ira Birns continues; Bakshi brings 30+ years of executive, private equity, and advisory experience.

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