Frank B. Rosenberg, the head of Crown Central Petroleum Corp. after it went private two years ago, resigned as the Baltimore-based oil refiner and gasoline marketer continues with efforts to sell itself, the company said yesterday. Rosenberg, who served as Crown's president, chief executive and chief operating officer, will become executive vice president of
business
dev- elopment for Rosemore Inc.
Rosemore is the privately held parent company of Crown run by his father, Henry A. Rosenberg Jr., and his brother, Chief Executive Officer Edward "Ned" Rosenberg.
Company executives said yesterday that the change reflected Crown's commitment to selling its
assets, including 314 gasoline stations and convenience stores across the mid-Atlantic and Southeastern United States, two Texas oil refineries and 10 product terminals.
"I think [Frank Rosenberg] felt that it was in the best interest of the company to step aside at this point and let the hired agents and company management execute the stated intention, which is to maximize value of the assets" in a sale, John E. Wheeler Jr., Crown's chief
financial officer, said yesterday in a telephone interview. Frank, Henry and Edward Rosenberg did not return phone calls yesterday seeking comment.
Frank Rosenberg, 44, has been a part of Crown management since 1986. He is a great-grandson of Louis Blaustein, founder of American Oil Co., or Amoco. Blaustein was a major investor in Crown, which was formed in 1917 by Texas wildcatters.