Valero Energy Corporation (NYSE: VLO) announced today that Irl F. Engelhardt, Chairman of Peabody Energy Corporation (NYSE: BTU), has been elected to the company's board of directors. Engelhardt, who becomes Valero's 12th board member, will serve on the board's Audit and Executive committees.
"We're excited that Irl has agreed to serve on our board of directors," said Valero Chairman Bill Greehey. “He brings tremendous insight into our industry, strong leadership skills, significant experience at leading corporations and great business acumen. He’s a great addition to our board and is looking forward to helping us lead Valero to even greater success in the years ahead.”
In addition to serving as Peabody’s Chairman, Engelhardt, 59, is a board member of Williams Companies Inc. (NYSE: WMB) and is Deputy Chairman of The Federal Reserve Bank of St. Louis.
Engelhardt served as Chairman and Chief Executive Officer of Peabody from 1998 through 2005 when he retired as CEO. Prior to 1998, he served as Chairman, CEO and President of a predecessor of Peabody. He joined the company in 1979 and held various officer-level positions in the executive, sales, business development and administrative areas. Peabody Energy is the world’s largest private-sector coal company, with 2004 sales of 227 million tons and $3.6 billion in revenue. Its coal fuels more than 10 percent of all U.S. electricity and 3 percent of worldwide electricity.
Additionally, Engelhardt’s business experience includes serving as Group Vice President and a director of Hanson Industries; Chairman of Cornerstone Construction and Materials, Inc.; Chairman of Suburban Propane Company; Chairman of the power marketer Citizens Power LLC; Co-CEO and Executive Director of The Energy Group (LSE: TEG); and Chairman of Peabody Resources Limited (Australia).
He is currently Co-Chairman of the Coal-Based Generation Stakeholders Group. Previously, he served as Chairman of the National Mining Association, the Coal Industry Advisory Board of the International Energy Agency, the Center for Energy and Economic Development and the Coal Utilization Research Council.
About Valero
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and annual revenue of about $75 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 5,000 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.