This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Adams Express And Petroleum & Resources Name Mark Stoeckle As CEO; Former BNP Paribas Executive Will Assume Duties Next Month

BALTIMORE, Jan. 28, 2013 /PRNewswire/ -- The Boards of Directors of The Adams Express Company and Petroleum & Resources Corporation named Mark E. Stoeckle as Chief Executive Officer for the Funds, succeeding long-time Chief Executive Officer Douglas G. Ober, who previously announced plans to retire this year.

Mr. Stoeckle has had a distinguished 30-year career in financial services and asset management, and brings a wealth of investment and business experience to the role.  He comes to the Funds from the global investment management firm BNP Paribas Investment Partners, in Boston, where he has served since 2004 as Chief Investment Officer, U.S. Equities and Global Sector Funds.  

At BNP Paribas Investment Partners, Mr. Stoeckle and his team managed about $5 billion in domestic and global equities.  Under Mr. Stoeckle's leadership, the team developed and implemented a disciplined and systematic investment process with a particular emphasis on risk management.  Prior to that, he co-founded a long/short market-neutral equity fund.  He also has served in portfolio management roles for Liberty Financial Corporation and MFS Institutional Advisors.  Earlier in his career, Mr. Stoeckle was a Senior Vice President in the Investment Banking Group at Bear, Stearns & Co.

"We are extremely pleased to welcome Mark Stoeckle as our next CEO.  With his outstanding record of achievement, he has the leadership ability and experience that are ideally suited to lead our portfolio management team and the Companies.  His having managed U.S. and global assets with a strong focus on risk management will help to build on our exceptional 83-year history of returns to our shareholders and to enhance the Funds going forward," said Daniel E. Emerson, Lead Director for the Funds.

A graduate of Bethany College in West Virginia, Mr. Stoeckle earned an MBA in Finance from the F.W. Olin Graduate School of Business at Babson College.

Mr. Stoeckle, who plans to relocate to Baltimore from Boston, assumes his duties as CEO on February 11.  He will also be joining the Funds' Boards of Directors. 

Mr. Ober will continue as Chairman of the Boards through the Annual Meetings in March.  He will then serve as a consultant to the Funds over the next year.  "This will make his acumen and experience available to the Funds as the transition occurs," said Mr. Emerson.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,102.30 +15.67 0.09%
S&P 500 1,990.56 +3.55 0.18%
NASDAQ 4,482.0620 +8.3650 0.19%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs