The Port of Long Beach has a new managing director of finance and administration—it’s former chief financial officer Sam Joumblat who held a similar position in the private sector before coming back to the port.
“I'm pleased to welcome Sam back to join our Port family,” said Port of Long Beach Executive Director Mario Cordero in a statement.
The Long Beach Board of Harbor Commissioners approved Joumblat’s selection earlier this month, according to a release from the POLB late last week. The previous head of the Finance and Administration Bureau retired late last year, officials stated.
The bureau comprises the Port’s Finance, Information Management, Real Estate and Risk Management divisions, according to port officials.
Under his new role, Joumblat will manage an annual budget of $750 million and this decade’s $4 billion, 10-year capital improvement program—the largest of any seaport in the nation, according to the release.
“Sam has the years of experience needed to maintain and improve the Port’s strong financial position,” Harbor Commission President Lori Ann Guzmán said in a statement.
Joumblat served as the City of Long Beach’s deputy city auditor for three years before working at the Port as CFO from 2006 to 2014. He then took a post with Metrolink as the CFO and treasurer for two years and subsequently took up a similar role at Total Transportation Services Inc. where he is at currently, according to TTS’ website.
According to the Port, Joumblat worked as a senior manager with Arthur Andersen and 15 years with Atlantic Richfield Co., where he held a number of managerial positions. He is a certified public accountant and certified internal auditor, and was named 2012 Chief Financial Officer of the Year for a Government Entity by the Los Angeles Business Journal. Joumblat earned a bachelor’s degree in mechanical engineering and master’s degrees in business administration, mechanical engineering and industrial engineering from USC.
Jumblat’s key financial position will come with a salary of $230,000 a year, according to POLB spokesman Lee Peterson. His appointment is effective August 7, 2017.
Photo courtesy of POLB.