Valero Energy Corporation (NYSE: VLO) announced today that Stephen M.
Waters, managing partner of Compass Advisers LLP, has been elected to
the company’s board of directors. Waters, who
becomes Valero’s 11th
board member, will serve on the board’s
Finance Committee.
Waters is also a board member at Boston Private Financial Holdings, the
Boston University School of Public Health, the United States Naval
Institute and Harvard University’s Committee
on Student Excellence and Opportunity. He is the Chief Executive of the
Compass Partners European Equity Fund.
“We are honored that Steve has agreed to join
our board of directors,” said Valero Chairman
and CEO Bill Klesse. “He is well-respected and
has a broad knowledge of business and financial issues, and he brings a
wealth of experience.”
Waters, 61, has been the managing partner of Compass Advisers LLP
since 1996 and the Chief Executive of Compass Partners European Equity
Fund since 2005. From 1988 to 1996, he served in several capacities at
Morgan Stanley, including Co-Head of the Mergers and Acquisitions
department from 1990 to 1992, Co-Chief Executive Officer of Morgan
Stanley Europe from 1992 to 1996 and as a member of the firm’s
worldwide Firm Operating Committee from 1992 to 1996. From 1974 to 1988,
he was with Lehman Brothers, co-founding the Mergers and Acquisitions
department in 1977, becoming a partner in 1980 and serving as Co-Head of
the Mergers and Acquisitions department from 1985 to 1988.
About Valero:
Valero Energy Corporation is a Fortune 500 company based in San Antonio,
with approximately 22,000 employees and 2007 revenues of more than $95
billion. The company owns and operates 16 refineries throughout the
United States, Canada and the Caribbean with a combined throughput
capacity of approximately 3.1 million barrels per day, making it the
largest refiner in North America. Valero is also one of the nation’s
largest retail operators with approximately 5,800 retail and branded
wholesale outlets in the United States, Canada and the Caribbean under
various brand names including Valero, Diamond Shamrock, Shamrock,
Ultramar, and Beacon. Please visit www.valero.com
for more information.
Valero Energy Corporation, San Antonio
Investors, Ashley Smith,
Director,
Investor Relations: 210-345-2744
or
Media, Bill
Day, Director, Corporate Communications:
210-345-2928
Website: http://www.valero.com/
