Lucas Oil Products announced the transition of Forrest Lucas from CEO to chairman of Lucas Oil. 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. 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, the company said.
The company announced in May this year that Forrest and Charlotte Lucas’s son, Morgan Lucas, previously senior vice president of Lucas Oil Products, will take over as president of the company. Katie Lucas, the company’s former vice president of strategy and philanthropy, was named chief administrative officer last November.
“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.”
While still filling the role of chairman, Forrest Lucas is returning to one of his greatest passions as a cattle rancher. The Lucas Ranch, spanning nearly 16,000 acres in western Missouri, is home of the Lucas Cattle Company and its nearly 4,500 cattle. The cattle company has the distinction as the largest registered Simmental seedstock operation in the country. For years, Forrest split his time between managing Lucas Oil, the ranch and other business endeavors, but now he plans to focus on the cattle company’s daily operations, development of the livestock, pasture management, auctions and his impressive heard of Longhorns.
“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. “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.”
