Port of Corpus Christi Promotes CFO Kent Britton to CEO

The Port of Corpus Christi on Wednesday named Chief Financial Officer Kent Britton as its new chief executive officer to head the largest U.S. oil-export port by volume.

The appointment comes nearly four months after Sean Strawbridge, the previous chief executive, abruptly resigned after he was questioned about his business expenses.

Strawbridge has said all his expenses were in compliance with port policies and state statutes, and have all cleared the internal review process and approval process.

Britton had served as interim CEO after Strawbridge resigned.

The south Texas port of Corpus Christi has seen its export business boom after the United States lifted its oil embargo in 2015, allowing oil companies to sell and ship oil abroad.

More recently, Russia's invasion of Ukraine, China's reopening after COVID-19 and competitive prices for U.S. crude grades have buoyed oil export volumes to record highs.

Britton will also oversee the ongoing dredging of the port's ship channel to bring in larger oil tankers to its docks.

In July, the port completed Phase 2 of the four-phase project. The third phase is planned be completed in 2023, and the fourth and final phase is out for bid, expected to be awarded by the U.S. Army Corps of Engineers by October 2023.

(Reporting by Arathy Somasekhar in Houston; Editing by Sharon Singleton)