VLO - Valero's Gorder to retire as CEO succeeded by current COO Riggs

2023-05-09 07:00:28 ET

Valero Energy said Tuesday that Chairman and CEO Joseph Gorder will retire from the CEO role and has been elected as Executive Chairman, both effective June 30.

Current President and COO Lane Riggs will become Valero's ( NYSE: VLO ) new CEO and join the board, effective June 30.

Gorder has led Valero ( VLO ) as CEO since May 2014 and has served as Chairman since year-end 2014.

Riggs has been with the company since 1989 and has held several leadership positions overseeing refining operations, crude and feedstock supply, and planning and economics.

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