Dallas refiner HF Sinclair is running with a makeshift C-suite after both CEO Tim Go and CFO Atanas Atanasov stepped back from their roles, taking voluntary leaves while the board’s audit committee reviews the company’s disclosure processes. Board Chair Franklin Myers has moved into the interim chief executive spot, and Chief Accounting Officer Vivek Garg is filling in as interim chief financial officer. The reshuffle has investors and corporate watchers tracking every filing to see whether these “temporary” exits turn into permanent goodbyes.
Board names interim leaders, releases unaudited results
In a recent update, the company said the board accepted Go’s request for voluntary leave and appointed Myers as CEO on a temporary basis. At the same time, HF Sinclair rolled out its fourth quarter and full year 2025 results on an unaudited basis, declared a regular quarterly dividend, and signaled that it expects to file its Annual Report on Form 10-K once the audit is wrapped up. According to HF Sinclair, the board has tasked its Nominating, Governance and Social Responsibility Committee with mapping out next steps for the CEO role.
SEC filing pins down the timeline
A Form 8-K filed with regulators shows that the board received Go’s leave request on Feb. 17 and that the company furnished its press release to the Securities and Exchange Commission the next day. The filing also quotes HF Sinclair as saying Go’s voluntary leave “is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.” You can read the filing on the SEC EDGAR system.
Audit review widened after internal concerns
Coverage of the situation shows the audit committee launched its review on Jan. 26 after Atanasov raised concerns about actions by Go that could have influenced the tone at the top around 2025 disclosures. As the review unfolded, the committee developed separate concerns about Atanasov’s own behavior during the process, after which he also requested leave. As reported by MarketScreener, the company named Garg interim CFO while the board completes its assessment.
Audit committee says controls remain effective
HF Sinclair has told investors that the audit committee concluded the issues under review did not create an unfavorable tone for the 2025 disclosure process and that the company’s disclosure controls and procedures remain effective. The company has also said it expects to negotiate mutually agreeable separation arrangements with both Go and Atanasov, according to its corporate statement. That statement, along with the unaudited results, is posted on the company’s investor site at HF Sinclair.
Market reaction and governance questions
The leadership drama has weighed on the stock, with reports indicating shares have slipped since the CEO’s leave was first disclosed. Investors are now watching closely to see if the company can complete its audit and file the 2025 Form 10-K on schedule. Analysts and governance hawks, meanwhile, are zeroed in on how the Nominating committee handles the search for permanent leadership and whether the audit committee has more to say. For additional background and access to the company’s exhibits, see the SEC filing and related materials on StockTitan.
What to watch next
Near term, the key questions are whether HF Sinclair and its auditors close out the audit without new findings, when any separation agreements with Go and Atanasov are announced, and who ultimately lands in the permanent leadership seats. Local readers should note that HF Sinclair is headquartered in Dallas and that the board has signaled it plans to move deliberately while the audit committee finishes its work. For additional local reporting and more detail on the shakeup, see the Dallas Business Journal.
