Who is 'John G. Drosdick'

John G. Drosdick oversaw the restructuring of Sun Company into Sunoco. He served as chairman and CEO of the company from 2000 through 2008.

BREAKING DOWN 'John G. Drosdick'

John G. Drosdick became president of Sun Company in 1996, as the company began to divest its international petroleum exploration business. Drosdick oversaw further restructuring, including modernization of the company’s refineries. In 1998, Sun Company adopted the name of its longstanding motor oil brand, Sunoco. Drosdick became Sunoco's chairman, CEO and president in 2000 and pursued a diversification strategy intended to make the company more resistant to the petroleum industry’s typical business cycles. To that end, Sunoco purchased Aristech Chemical Corporation at a low valuation from Mitsubishi. Since petrochemical profits tend to move in opposition to gasoline prices, Drosdick saw this expansion as something of a long-term hedge for the company’s profits.

In 2004, Sunoco became the official fuel of NASCAR, extending the brand’s reach. The company also continued to buy up gas stations and convenience stores, developing a steady income stream from retail sales to complement its refinery operations. Major purchases included the Coastal Mart chain in the eastern United States in 2000 and 193 Speedway SuperAmerica stores across the southeast United States in 2003.

Drosdick retired at the end of 2008, when Lynn Laverty Elsenhans succeded him as CEO. That year, Sunoco’s diverse non-refining portfolio earned a record $427 million.

Biography of John G. Drosdick

Born in 1943 in Pennsylvania, Drosdick earned his undergraduate degree in chemical engineering from Villanova University in Villanova, Pennsylvania, then completed his master's degree in chemical engineering at the University of Massachusetts in 1968. He began his career as an engineer with Exxon that same year. In 1983 he joined Tosco Corp. as its vice president of refining, eventually becoming CEO and president in 1989. He then worked as president and COO at Ultramar from 1992 to 1996 before joining Sun Company.

Drosdick has held board positions or directorships at a number of entities, including Triumph Group, United States Steel Corporation, Lincoln National Corporation, GE Betz, Inc. and Hawk Acquisition Intermediate Corporation, formerly known as H.J. Heinz Company. He also has served on the board of trustees for the Philadelphia Museum of Art and the Kimmel Center for the Performing Arts.

From 2001 through 2008, Drosdick served as chair of the board of trustees at Villanova University. In 2014, he committed to donating $2.5 million to Villanova to fund a new lab in the Center for Engineering Education and Research.

  1. Peter R. Dolan

    Peter. R. Dolan is Chairman of the Board of Allied Minds, Inc. ...
  2. Board of Trustees

    A board of trustees is an appointed or elected group of individuals ...
  3. Chairman

    A chairman is an executive elected by a company's board of directors ...
  4. Oil Refinery

    An oil refinery is an industrial plant that refines crude oil ...
  5. Chief Executive Officer - CEO

    A CEO is the highest ranking executive in a company whose main ...
  6. Ramani Ayer

    A former president and CEO of Hartford Financial Services. Ayer ...
Related Articles
  1. Insights

    7-Eleven to Buy Sunoco Assets

    Japanese retail group Seven & I has announced that it would buy parts of gas distributor Sunoco's retail business.
  2. Investing

    4 Degrees Most Oil Companies Are Looking For

    Find out which four degrees oil companies want to see on the resumes of new hires, and find out why the industry still pursues these graduates.
  3. Personal Finance

    America's Top CEOs and Their College Degrees

    You might expect all of America's top CEOs to have an MBA from an Ivy, but they hail from a all kinds of academic backgrounds.
  4. Insights

    Who Is Driving Exxon Mobil's Management Team? (XOM)

    Three key members of the Exxon Mobil management team drive the most important business and corporate governance issues at the company.
  5. Investing

    Breaking Down Energy Transfer's Corporate Anatomy (ETE, ETP)

    Recently, Energy Transfer Partners (NYSE: ETP) and its general partner, Energy Transfer Equity (NYSE: ETE), completed the announced merger with Regency Energy Partners, a move that was designed ...
  6. Investing

    The Basics of Corporate Structure

    CEOs, CFOs, presidents and vice presidents – learn how to tell the difference.
  7. Trading

    Sun Pharma Leading India's Pharma Sector

    A potential bottom in Sun Pharma stock could be a positive sign for the Indian pharmaceutical sector as a whole.
  8. Investing

    Oil Stocks That Benefit From OPEC Overproduction (TSO, HFC)

    Despite falling oil prices, many oil refinery stocks have had a stellar performance. Here's a list of top performers with strong future potential.
  9. Personal Finance

    Masters Degree Vs. Work Experience: Which One Is More Valuable?

    Some argue that a master's degree only worsens student's financial situations, but future earnings data shows there can be a real financial benefit.
  10. Investing

    Taking a Closer Look at Chemical Companies

    The chemical sector may be painted with an outdated brush there might be a lot more opportunity here than many investors realize.
  1. What are the most common ETFs that track the chemicals sector?

    Learn more about the chemical industry and opportunities presented to investors by chemical sector ETFs and materials companies ... Read Answer >>
  2. Warren Buffett's history in school

    Warren Buffett attended multiple prestigious schools on his path to success, but he places much more significance on real-world ... Read Answer >>
  3. What is Tim Cook's career and educational background? (AAPL)

    Discover where Tim Cook studied and worked before joining Apple and what roles he played in the company before taking over ... Read Answer >>
Trading Center