Valero Energy Promotes President And COO Lane Riggs To Succeed Joseph Gorder As CEO

(RTTNews) - Valero Energy Corp. (VLO) announced Tuesday that Joseph Gorder, Valero's Chief Executive Officer and Chairman of the Board, has chosen to retire as CEO and has been elected as Executive Chairman of the Board, both effective June 30, 2023.

In his new role, Gorder will lead the Board of Directors, and continue to provide advice and counsel to the CEO and Valero's leadership on Company decisions.

Lane Riggs, Valero's President and Chief Operating Officer, has been elected to serve as Valero's CEO and as a member of the Board, also effective June 30, 2023.

Gorder has led Valero as CEO since May 1, 2014, and has served as Chairman of the Board since December 31, 2014.

In addition to his current position, Riggs has held several leadership positions with Valero overseeing refining operations, crude and feedstock supply, and planning and economics. Riggs also served on the board of directors of Valero Energy Partners GP LLC (the general partner of Valero Energy Partners LP (VLP)) from 2014 to 2019.