Valero Energy Announces CFO Transition
June 19 2020 - 6:47AM
Valero Energy Corporation (NYSE: VLO) today announced that Jason
Fraser, who has served as Valero’s Executive Vice President and
General Counsel since January 2019, has been appointed by Valero’s
Board of Directors to serve as the Company’s Executive Vice
President and Chief Financial Officer, effective July 15, 2020. Mr.
Fraser will succeed Donna Titzman, who will remain as Executive
Vice President and Chief Financial Officer until her retirement
from the position on the same date, and will continue with the
Company for a transitional period thereafter.
Richard Walsh, Valero’s current Vice President
and Deputy General Counsel, will be promoted to Senior Vice
President and will succeed Mr. Fraser as General Counsel, effective
July 15, 2020.
“We are extremely excited to have Jason move
into the CFO role with Rich taking on the General Counsel position,
and are confident in their ability to help Valero execute on its
strategic objectives and ensure its continued financial strength,”
said Joe Gorder, Valero’s Chairman and Chief Executive Officer. “We
are also grateful to Donna for her contributions to Valero during
her tenure as CFO. Donna has played a key role in the growth of our
Company since she joined us in 1986. We appreciate her continued
support while Jason transitions into the role, and we wish her the
very best in the future.”
Mr. Fraser said, “It is a great privilege for me
to accept the CFO role. I look forward to continuing to work
closely with the rest of our excellent management team, the Board
and our dedicated employees. The capital discipline that has been a
constant in Valero’s strategy, including the prudent management of
our strong balance sheet and delivering on our commitment to
stockholders, will remain an uncompromising priority while we
proactively address the uncertainties that we face in the current
environment.”
Mr. Fraser has significant leadership experience
at Valero, having served as Valero’s General Counsel since January
2019 and previously serving as a Senior Vice President with
oversight of Valero’s Public Policy, Strategic Planning,
Governmental Affairs, Investor Relations and External
Communications functions. Previously, Mr. Fraser also served as
President of European Commercial Operations, overseeing the
Company’s European commercial businesses, and Vice President of
Specialty Products Marketing. Mr. Fraser began his career with
Valero in 1999. Mr. Fraser earned his Bachelor of Business
Administration degree from the Business Honors Program at the
University of Texas at Austin, and his Juris Doctor from Harvard
Law School. Prior to attending the University of Texas, Mr. Fraser
served in the U.S. Army from 1986-1990.
Mr. Walsh currently serves as Valero’s Vice
President and Deputy General Counsel, with responsibility for
Valero’s litigation, regulatory and employment law departments, as
well as the Company’s ad valorem tax and environmental, health and
safety groups. He has previously served in many different
leadership roles within Valero’s legal department. Mr. Walsh earned
his Bachelor of Arts and Juris Doctor degrees from the University
of Oklahoma.
About ValeroValero Energy
Corporation, through its subsidiaries (collectively, “Valero”), is
an international manufacturer and marketer of transportation fuels
and petrochemical products. Valero is a Fortune 50 company
based in San Antonio, Texas, and it operates 15 petroleum
refineries with a combined throughput capacity of approximately
3.2 million barrels per day and 14 ethanol plants with a
combined production capacity of approximately 1.73 billion
gallons per year. The petroleum refineries are located in the
United States (U.S.), Canada and the United Kingdom (U.K.), and the
ethanol plants are located in the Mid-Continent region of the U.S.
Valero also is a joint venture partner in Diamond Green Diesel,
which operates a renewable diesel plant in Norco, Louisiana.
Diamond Green Diesel is North America’s largest biomass-based
diesel plant. Valero sells its products in the wholesale rack or
bulk markets in the U.S., Canada, the U.K., Ireland and Latin
America. Approximately 7,000 outlets carry Valero’s brand
names. Please visit www.valero.com for more information.
Safe-Harbor StatementStatements
contained in this release that state the company’s or management’s
expectations or predictions of the future are forward-looking
statements intended to be covered by the safe harbor provisions of
the Securities Act of 1933 and the Securities Exchange Act of 1934.
The words “believe,” “expect,” “should,” “estimates,” “intend,”
“target,” “will,” “plans,” and other similar expressions identify
forward-looking statements. It is important to note that actual
results could differ materially from those projected in such
forward-looking statements based on numerous factors, including
those outside of the company’s control, such as delays in
construction timing and other factors, including but not limited to
the impacts of COVID-19. For more information concerning factors
that could cause actual results to differ from those expressed or
forecasted, see Valero’s annual reports on Form 10-K,
quarterly reports on Form 10-Q, and other reports filed with
the Securities and Exchange Commission and available on Valero’s
website at www.valero.com.
Valero ContactsInvestors:Homer
Bhullar, Vice President – Investor Relations, 210-345-1982Eric
Herbort, Senior Manager – Investor Relations, 210-345-3331Gautam
Srivastava, Manager – Investor Relations, 210-345-3992
Media:Lillian Riojas, Executive Director – Media
Relations and Communications, 210-345-5002
Valero Energy (NYSE:VLO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Valero Energy (NYSE:VLO)
Historical Stock Chart
From Apr 2023 to Apr 2024