March 3 U.S. refiner Valero Energy Corp
said Chief Executive Bill Klesse will step down in May after
eight years at the helm, and will be succeeded by Chief
Operating Officer Joe Gorder.
Valero, the country's largest independent refiner, said
Klesse will remain director and chairman.
Klesse, who is 67 years old, has spent his entire 45-year
career with Valero and its predecessor companies. He became CEO
in 2005 and was named chairman of the board in 2007.
Gorder, who has been with Valero for 27 years, has
previously held positions including senior vice president for
corporate development and strategic planning.
Valero shares were up 1 percent at $48.63 in early trading
on the New York Stock Exchange on Monday.