In his new role, he will be stepping away from the day-to-day activities and move into an advisory role to help guide the strategic direction of the company, Lucas Oil said in a statement announcing the change. The transition also allows Forrest, along with his wife Charlotte, more time to focus on the Lucas Cattle Company, the Lucas Ranch and other personal initiatives, he said.
“Lucas Oil has a rich history and a very bright future. As I transition into my role as Chairman, I am excited at the opportunity to spend more time on different projects as we continue the family legacy of the company with Morgan and Katie,” said Forrest. “They are doing an amazing job with the development and expansion of our product line, advancing our technology, and I am confident the work they are doing will ensure Lucas Oil is positioned to meet and exceed the future challenges and opportunities of this market.”
“Over the past 34 years, my father has become an icon in the oil and additive industry, and I fully support his decision to transition to the role of Chairman. This gives him more flexibility to focus on the ranch and other things he is passionate about, and Katie and I could not be happier for him and my mom,” said Morgan Lucas. “My father’s values, leadership and perseverance are what made Lucas Oil what it is today – a great, family-oriented company. We are excited to carry on his vision and support the strategic direction of Lucas Oil as we guide the company into the future.”
