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Valero Energy CEO Kleese to step down in May

Valero Energy CEO Kleese to step down from post in May; Gorder named as successor

Associated Press

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

The 67-year-old Kleese 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 Kleese as CEO, effective on the date of Kleese'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.