Leadership Milestone: Valero Charts New Course Under R. Lane Riggs

Valero Energy Corporation is entering a significant chapter in its corporate history as Joe Gorder steps down from his Executive Chairman role. The renowned energy executive, who has steered the multinational refiner through a decade-plus of operational leadership, will officially retire from the board as of December 31, 2024, marking the completion of a carefully orchestrated succession strategy.

The Transition Takes Shape

R. Lane Riggs, who assumed the Chief Executive Officer role on June 30, 2023, will expand his responsibilities to include Chairman of the Board effective the same retirement date. This dual appointment represents the culmination of a succession plan that has been deliberately structured over an extended period. Riggs has already demonstrated his capabilities steering Valero’s core operations for the past 18 months, establishing himself as the architect of the company’s forward-looking strategies.

Joe Gorder’s tenure reflects a deep commitment to institutional leadership. Having served as CEO from May 2014 through mid-2023, he transitioned to Executive Chairman—a role where he continued to guide board deliberations and provide strategic counsel to the executive team. Throughout his time in this elevated position, Gorder shaped Valero’s reputation as a dominant force in global liquid transportation fuels manufacturing.

The Foundation and the Future

Robert A. Profusek, Valero’s Lead Independent Director, underscored Gorder’s lasting impact: “Joe’s strategic vision and principled stewardship established Valero’s standing as one of the world’s premier fuel manufacturers. The Board is confident that this planned transition leverages the robust foundation Joe built while enabling Lane to guide the organization forward with continuity and vision.”

Gorder himself reflected on his tenure with measured optimism: “Serving Valero has been deeply meaningful. Lane has consistently demonstrated the strategic acumen and organizational trust necessary for leadership roles. The Board and I are confident in his capacity to shepherd the company through its next growth phase.”

Riggs acknowledged the baton-passing moment: “Joe’s mentorship and partnership have been invaluable. The strategic framework he established will remain central to our operations as we build upon his legacy and navigate future opportunities.”

Valero’s Operational Footprint

The energy corporation operates an expansive infrastructure designed for sustainable growth. Valero controls 15 petroleum refineries across the United States, Canada, and the United Kingdom with a combined daily throughput capacity of approximately 3.2 million barrels. The company also maintains significant renewable fuel operations: two Diamond Green Diesel plants with 1.2 billion gallons annual production capacity, and 12 ethanol facilities generating approximately 1.6 billion gallons yearly.

This diversified asset base, refined under Gorder’s stewardship and now positioned for continued development under Riggs’ leadership, positions Valero to navigate an evolving energy landscape marked by both traditional fuel demand and low-carbon alternatives.