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Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Quarles Petroleum announces new leadership

Fredericksburg-based Quarles Petroleum Inc. will have a new CEO starting in 2014.

Current CEO Ben Wafle will retire at the end of 2013 following 39 years with the company, Quarles announced Wednesday.

Paul Giambra, who has been the company’s chief financial officer since 2001, will take over as CEO following Wafle’s retirement.

Wafle said in a statement that he has “every confidence that the owners and board have made the right choice to lead the company.”

The company’s third generation of owners and operators — Doug, George and Bill Quarles — will also transition out of management at the end of the year, leading to a new generation of leadership under Giambra.

Along with their sisters, Kitty and Anne, the Quarles brothers will focus on the overall strategic direction of the company through their continued participation on the owners council and board of directors.

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