# Todd Borgmann

> Todd Borgmann is President and Chief Executive Officer of Calumet, Inc., an Indianapolis-based manufacturer of specialty products, branded lubricants and renewable fuels. He joined Calumet in 2008, worked across commercial operations and finance, became CEO in May 2022 and joined the board of Calumet, Inc. in July 2024. His tenure includes the company’s C-corporation conversion and the development of Montana Renewables.

- **Role:** President and Chief Executive Officer at Calumet, Inc.
- **Organizations:** Calumet, Inc., Montana Renewables
- **Education:** Bachelor of Science in Industrial Engineering, Purdue University, Master of Business Administration, University of Notre Dame
- **Known for:** Named a 2021 CFO of the Year honoree by Indianapolis Business Journal., Led Calumet during its July 2024 conversion from a master limited partnership to a C-corporation., Led Calumet during the commissioning and expansion planning of Montana Renewables.

## Career timeline

- **2008** — Joined Calumet.
- **Before 2021** — Held roles in financial analysis, sales management, business development, supply and trading, risk management, investor relations and supply chain.
- **2021-02** — Became Executive Vice President and Chief Financial Officer of Calumet’s general partner.
- **2022-05** — Became President and Chief Executive Officer, succeeding Steve Mawer, effective May 1.
- **2024-07** — Became a director of Calumet, Inc. as the company completed its C-corporation conversion.

## Achievements

- Named a 2021 CFO of the Year honoree by Indianapolis Business Journal.
- Led Calumet during its July 2024 conversion from a master limited partnership to a C-corporation.
- Led Calumet during the commissioning and expansion planning of Montana Renewables.

## Latest updates

- **2026-10** — Calumet announced a $150 million senior note redemption scheduled for October 25, 2026; it was not yet completed as of October 22.
- **2026-09** — Calumet reported a revised MaxSAF expansion plan with $137 million in remaining project capital versus $1.2 billion contemplated in the original Phase 2 plan, and receipt of a final $34 million DOE loan draw.
- **2026-08** — Calumet reported Q2 2026 net loss of $95.9 million and adjusted EBITDA of $159.3 million, and announced approximately $115 million of July debt retirement.

## Links

- Website: https://calumet.com
- LinkedIn: https://www.linkedin.com/in/todd-borgmann-1017888

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Profile page: https://yespress.io/todd-borgmann
Published by YesPress — https://yespress.io
Last updated: 2026-10-22