Valero Energy CEO to Become Chairman Following Exe
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Valero Energy CEO to Become Chairman Following Executive Chairman's RetirementVLO
SummaryOct 30, 2024
Valero Energy Corporation announced that Joseph W. Gorder will retire as Executive Chairman and board member on December 31, 2024. R. Lane Riggs, Valero's current CEO and President, will succeed Gorder as Chairman. This change reduces the board's size to 10 members. The company emphasized that its forward-looking statements are subject to various factors that could affect future results. Valero cited its 10-K and 10-Q filings for additional information. The transition is expected to be seamless, given Mr. Riggs's existing leadership role. Valero's statement included a safe harbor provision, emphasizing potential differences between projected and actual results.
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Valero Energy VLO News & Analysis More Information Leadership Changes at Valero Energy FAQWhy is this newsworthy?
Valero Energy Corporation announced that Joseph W. Gorder, Executive Chairman and board member, will retire on December 31, 2024. R. Lane Riggs, current CEO and President, will become Chairman. This is a significant leadership change, potentially altering company strategy and market perception.
Who is retiring from Valero's board?
Joseph W. Gorder
What position did Mr. Gorder hold?
Executive Chairman and board member
When is Mr. Gorder's retirement effective?
December 31, 2024
Who will replace Mr. Gorder as Chairman?
R. Lane Riggs, Valero's CEO and President
How many members will be on Valero's board after the changes?
Ten
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