Valero Energy CEO Stepping Down

Valero Energy CEO Bill Klesse is stepping down from his post on May 1. 67-year-old Klesse will remain with the refiner as chairman.

SAN ANTONIO (AP) — Valero Energy CEO Bill Klesse is stepping down from his post on May 1.

The 67-year-old Klesse will remain with the refiner as chairman. He's served as CEO since 2005 and became chairman in 2007.

Valero Energy Corp. named President and Chief Operating Officer Joe Gorder to succeed Klesse as CEO, effective on the date of Klesse's departure. Gorder, 56, will also become a board member immediately.

Shares of the San Antonio company fell 96 cents, or 2 percent, to $47.02 in premarket trading Monday.

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