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Valero's Bill Greehey to Focus on Role as Chairman; Bill Klesse Named CEO and Vice Chairman.

Publication: Business Wire
Publication Date: 31-OCT-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
SAN ANTONIO -- Bill Greehey, Chairman and CEO of Valero Energy Corporation (NYSE: VLO), announced today that he will transition out of his role as CEO at the end of the year to focus on his responsibilities as Chairman. Executive Vice President and COO Bill Klesse has been appointed CEO, and has been elected to the board of directors and will serve as its Vice Chairman. The company has an orderly transition plan in place, which calls for Klesse to begin serving in his new role Jan. 1, 2006, and Greg King to continue as President.

"I plan to remain actively involved in the strategic direction of both Valero and Valero L.P., and plan to stay involved in Valero's employee, governmental and civic initiatives," Greehey said. "And, of course, I will remain a visible advocate...

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