Valero Energy Corp. (NYSE:VLO) announced that former U.S. Sen. Don Nickles has been elected to the company’s board of directors effective today. The ninth member of Valero’s board, Nickles will serve as a class III director and will sit on the Finance Committee.
"Sen. Nickles will be a tremendous asset to the Valero board, and we are honored that he has decided to serve as one of our directors,” said Bill Greehey, Valero’s chairman of the board and CEO. “His strong background in government and keen political insight will be invaluable to the board. And, as his record shows, he has tremendous experience in energy policy and in-depth knowledge of the wide range of issues impacting our industry. We are excited to have someone with his vast experience and high level of integrity helping to lead Valero.”
In 1980, on the heels of serving two years in the Oklahoma State Senate, Nickles was elected a U.S. Senator at the age of 31, becoming the youngest member of the U.S. Senate. In 1998, he became the first Oklahoma Republican ever elected to a fourth term in the U.S. Senate. During his 24 years in public office, Nickles held numerous leadership positions, including Chairman of the Senate Budget Committee, Assistant Republican Leader, Chairman of the Republican Senatorial Committee and three-term Chairman of the Republican Policy Committee. He also served as a member of the Senate Finance Committee, Energy and Natural Resources Committee, and Rules and Administration Committee. While in office, Nickles made numerous contributions to the nation’s energy policies, including the repeal of the Windfall Profits Tax (1988), repeal of the Fuel Use Policy Act (1987), and the deregulation of natural gas prices (1989).
Raised in Ponca City, Okla., Nickles holds a bachelor’s degree in business administration from Oklahoma State University. Upon graduating, he became vice president and general manager of the Nickles Machine Corporation, a family-owned small business that provides products and services to the energy industry. He also served in the National Guard from 1970-76. Nickles recently formed The Nickles Group, a Washington-based consulting and business venture firm.
About Valero
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 20,000 employees and annual revenues of approximately $55 billion. The company owns and operates 15 refineries throughout the United States, Canada and the Caribbean. Valero's refineries have a combined throughput capacity of approximately 2.5 million barrels per day, which represents approximately 12 percent of the total U.S. refining capacity. Valero is also one of the nation's largest retail operators with more than 4,700 retail and wholesale branded outlets in the United States, Canada and the Caribbean under various brand names including Diamond Shamrock, Shamrock, Ultramar, Valero, and Beacon. For more information, please visit www.valero.com.