After founding Gate Petroleum Co. and leading it for more than 50 years, President Herbert Peyton has stepped down from his leadership role and his son, John, has been named the new president of the company.
John Peyton served two terms as Jacksonville mayor from 2003-11.
Herb Peyton, who turns 80 on Friday, founded the company in 1960 with a service station in Northwest Jacksonville and it now has about 3,000 employees in eight states.
The name Gate was developed from the 1960s Jacksonville Chamber of Commerce slogan, “Jacksonville — Gateway to Florida.”
“In life, as in business, timing is everything,” Peyton said in a letter dated Tuesday to Gate employees.
“I believe this is the time for Gate to transition to the next generation. I am sure you have observed family businesses where founding owners have been unable to gracefully transition leadership. I am determined not to let that happen in our company,” he wrote.
“I am absolutely confident John’s experiences both within and outside of our company ideally suit him to meet the challenges of managing this organization,” he wrote
As of Tuesday, the elder Peyton became chairman of the company, John Peyton assumed the role as president and Mitchell Rhodes was named chief operating officer.
Rhodes also will continue to lead Gate Marketing while also being involved in management of all operating divisions of the company.
“Herb Peyton has built a strong company through great instinct, courage and determination,” said John Peyton in a news release.
“Now, with extraordinary people and great assets, I look forward to building upon the success from the first 50 years,” he said.
The news release said John Peyton returned to Gate Petroleum in October after his two terms as mayor ended in June.
Before being elected as mayor, he worked at Gate from 1989-2002, serving as division manager for the Florida retail division and, later, vice president.
Herb Peyton’s letter offered thoughts on the future.
“Several folks have asked where I will go and what I will do,” he said in the letter.
“Frankly, I am not sure, but training and fitness will continue right on. I am certain, however, what I am not going to do. I am not going to be a distraction to management. I will not be involved with the day-to-day operation of the company or second-guess the decisions that are made,” he wrote.
“I will help when needed and offer advice when asked — and, on occasion, when not asked. And, I will keep my office and continue to visit various operations from time to time,” he said.
Headquartered in Jacksonville, Gate Petroleum’s diversified holdings include convenience stores/service stations, fuel services, construction materials, real estate and resorts/clubs.
The company operates eight concrete plants in Florida, Alabama, Kentucky, Tennessee, North Carolina and Texas. It also owns and operates four private clubs — Epping Forest Yacht Club, The Ponte Vedra Inn & Club, The Lodge & Club and The River Club.
Real-estate holdings include Deerwood Park, a 1,000-acre office park in South Jacksonville; Riverplace, a multitenant high-rise on the Downtown Southbank; and the Cummer Trust Property, a 5,400-acre tract in north St. Johns County.
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Gate Petroleum Co .
Based in Jacksonville, Gate Petroleum Co. is one of the largest privately held companies in Florida and operates in eight states throughout the Southeast. Its holdings include convenience stores/service stations, fuel services, construction materials, real estate and resorts and clubs. It has about 3,000 employees
History
1960s
• 1960: Opened first Gate service station at Moncrief Road in Jacksonville.
• 1964: Established first corporate office at 9540 San Jose Blvd. in Jacksonville.
• 1960s: Entered the fuel-service business
1970-80s
• 1974: Owned and operated 500-acre potato farm in Hastings.
• 1978: Gate Roofing Manufacturing became largest producer of saturated felt in Southeast.
• 1978: Developed Southpoint, a 410-acre mixed-use office center at Butler Boulevard and Interstate 95.
• 1970-80s: Expanded convenience stores into Georgia, South Carolina, North Carolina, Kentucky, Virginia, Tennessee, Virginia and Louisiana.
• 1980: Acquired Houdaille Duval Wright and Jacksonville’s Prestressed Concrete plant. In the following years, acquired a structural precast plant in Pearland, Texas, and purchased first architectural precast plant in Monroeville, Ala.
• 1983: Acquired the Stockton, Whatley & Davin property, which included Ponte Vedra Inn & Club, the Deerwood Country Club and Ponte Vedra Realty as well as undeveloped property that Gate later developed into Deerwood Park Office Center, Tinseltown, Old Ponte Vedra Beach, Kendall Town Center and The Shoppes of Ponte Vedra. Guana State Park also evolved from the SWD purchase.
• 1984: Developed Epping Forest Yacht Club.
• 1985: Became title sponsor of the Gate River Run USA 15K Championship race.
• 1986: Acquired Blount Island from Westinghouse Southland.
1990s
• 1990: Acquired 28 7-Eleven stores in the Jacksonville market.
• 1993: Acquired Riverplace Tower.
• 1997: Acquired Ponte Vedra Lodge & Club.
1990s-2000s
• 1990s-2000s: Acquired architectural plants in Ashland City, Tenn.; Winchester, Ky.; Oxford, N.C.; Dallas; and Kissimmee.
• 2004: Acquired and renovated The River Club.
• 2004-07: Acquired 12,000 acres of raw land including the Durbin Creek, Baldwin and Bells River properties.
• 2005: Master-planned and developed The Shoppes at Bartram Walk and Kendall Town Center.
• 2006: Acquired InMotion Entertainment, an airport entertainment and electronics retailer.
• 2008: Acquired “150 West Main” a 21-story office building in the central business district of Norfolk, Va.