Valero Announces Board Leadership Transition; Joseph W. Gorder To Retire As Executive Chairman And Director; CEO And President R. Lane Riggs To Assume Chairman Position
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Valero Energy Corporation announced a leadership transition with Joseph W. Gorder retiring as Executive Chairman and Director by the end of 2024. R. Lane Riggs, the current CEO and President, will assume the Chairman position.
October 30, 2024 | 9:11 pm
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Valero Energy Corporation is undergoing a leadership transition with Joseph W. Gorder retiring as Executive Chairman and Director by the end of 2024. R. Lane Riggs, the current CEO and President, will assume the Chairman position.
The leadership transition at Valero Energy is significant as it involves the retirement of the Executive Chairman and the appointment of the current CEO as the new Chairman. However, since the transition is planned for the end of 2024, the immediate impact on the stock price is likely neutral. Investors may view the continuity in leadership positively, but the long-term effects will depend on the strategic direction under the new Chairman.
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