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Valero Names Executive VP Joe Gorder as Company President

Date : 11/14/2012 @ 12:52AM
Source : Dow Jones News
Stock : Valero Energy Corp. (VLO)
Quote : 54.25  0.48 (0.89%) @ 2:40PM
Valero share price Chart

Valero Names Executive VP Joe Gorder as Company President

Valero (NYSE:VLO)
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By Ben Lefebvre

Valero Energy Corp. (VLO), one of the largest U.S. refining companies, on Tuesday named executive vice president and chief operating officer Joe Gorder to replace chief executive Bill Klesse as the company's president.

Mr. Klesse will remain CEO. Mr. Gorder will assume the president's position on Jan. 1 while keeping the COO position. Valero operates 16 refineries in the U.S. and abroad with a combined processing capacity of about 3 million barrels a day.

"As President and COO, Gorder will continue to be responsible for Valero's refining operations, as well as commercial operations in marketing, supply and transportation," the company said in announcing the move.

Mr. Klesse became Valero CEO in 2006 after serving as the company's COO for three years.

Write to Ben Lefebvre at ben.lefebvre@dowjones.com



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