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Valero Board Approves Election of Eric Fisher to Corporate Officer

Posted on: Thursday, 26 April 2007, 12:12 CDT

The Valero Energy Corporation (NYSE:VLO) Board of Directors has approved the election of Eric Fisher, currently Valero's Vice President of Investor Relations, to the position of Corporate Vice President-Investor and Corporate Communications. Fisher will report directly to Valero Chairman and CEO Bill Klesse. The promotion became effective upon the board's approval Wednesday.

The appointment coincides with Valero's decision to merge its Investor Relations and Corporate Communications departments, creating a better and more efficient working environment. As Corporate Vice President-Investor and Corporate Communications, Fisher will oversee the combined department.

"During his tenure in Investor Relations, Eric has demonstrated his ability to understand the dynamics of Valero's business and explain the company position to the investment community," Klesse said. "Clearly, he understands the importance of correct and concise communication, and we're confident he will do an excellent job with the Corporate Communications function externally and work very well with internal groups providing a consistent message."

After completing his undergraduate degree in economics from Texas A&M, Fisher worked for Exxon as an accountant for two years before deciding to pursue his law degree at the University of Texas. After obtaining his JD, Fisher worked for Fulbright & Jaworski for two years before joining Valero's Corporate Law Department 10 years ago. After two years in Legal, he transferred to Investor Relations.

As Vice President of Investor Relations, he helped investors understand the complexities of deals like Valero's $8 billion purchase of Premcor Inc., as well as the implementation of new securities regulations and Valero's numerous stock buyback plans. "Eric will do an excellent job for us in his new position, and we are pleased to have such a talented person to fill this role," Klesse said.

About Valero Energy Corporation

Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and revenues of more than $90 billion. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with more than 5,500 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.

Source: Business Wire

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