Joe Gorder will remain with Valero as executive chairman of the board starting June 30. He has led the company since 2014.
announced Tuesday that Joe Gorder, the company’s chief executive officer and chairman of the board, will retire at the end of June. Valero president and Chief Operating Officer Lane Riggs will succeed Gorder, according to a statement released by the company. Gorder will remain with Valero as executive chairman of the board starting June 30.
In a statement released by the company, Gorder thanked Valero employees, stockholders and others, and said Riggs has been a key member of Valero’s executive team who has long played a role in company strategy. In various leadership roles at Valero since 1989, Riggs has managed the company’s refining operations, crude and feedstock supply, and planning and economics, and also served on the board of Valero Energy Partners GP LLC, the general partner of Valero Energy Partners LP, from 2014 to 2019.
Founded by Bill Greehey in 1980, Valero today is a $176 billion company and owns 15 petroleum refineries in the U.S., Canada and the United Kingdom producing about 3.2 million barrels of oil a day.
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