Excellence Refined - 30 Years - Valero

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commitments to safety, stakeholders, employees, the environment and the community. Its internal mission: To encourage employees to take these five essential principles and put them into practice each and every day. Valero’s Commitment to Excellence became a visual reminder of expectations at every level, and provided the framework for a new management system that emphasized safety and stability at every turn. It also fueled the company’s first-ever Social Responsibility Report, which highlighted Valero’s accomplishments and activities in health and safety, and efforts to protect the environment, communities, employees and corporate ethics. “It’s not enough for us to be a better refiner and marketer,” Klesse states in the report. “We strive to be a better employer and neighbor, too.” As a result, Valero consistently is recognized as one of the world’s most-admired energy companies, one of the best big companies to work for and one of the best corporate citizens in the energy industry. Looking Inward In 2006, Valero financial results were still strong, posting quarterly profits far and above the previous year. Third quarter 2006 operating income was $2.3 billion, compared to $1.9 billion achieved in the same period the previous year. The company returned more cash than ever to shareholders. After a decade of rapid growth through acquisitions, Valero was naturally shifting its strategy to achieve higher returns from existing assets. In 2007, Valero’s management instituted a sweeping set of guiding principles for the organization to achieve excellence in business, industry and relationships with employees and the community. Valero’s Commitment to Excellence program highlighted the company’s Unquestionably in 2007, volatility in the industry began to swell. An economic downturn challenged even the strongest of companies. But Valero’s leadership empowered employees, encouraging improvements in process safety and reliability, environmental stewardship, operational and energy efficiency and community response. Valero took home honors as Downstream Business of the Year at the 2007 Platts Global Energy Awards. The company’s employee injury rate consistently beat Bureau of Labor Statistics averages, achieving record results in 2008. Ten of Valero’s 14 U.S. refineries carried “Star Site” status, reflecting the government’s highest honors within OSHA’s Voluntary Protection Program (VPP). Refinery environmental performance vastly improved, and to date, more than $100 million in annualized savings was achieved under Valero’s energy stewardship program. The company’s Commitment to Excellence campaign was now a visible, audible call to arms for Valero employees. To be successful in the industry, employees must do their best every day, in everything they do, and show the world where the real muscle of the company lives – in its dedicated, unshakeable work force. “Our employees drive all of our initiatives, the success of our company Strategy for Success 22
As a leading refiner and marketer, we are committed to following these guiding principles in pursuing and achieving excellence in our business, industry and relationships with our employees and communities. SAFETY The safety of our employees, our operations and our communities is our highest priority. Valero CEO, President and Chairman Bill Klesse (seated, front right) gathers with the company’s leadership. The Valero Management Committee includes (left to right): Mike Crownover (SVP Human Resources), Donna Titzman (VP & Treasurer), Jay Browning (SVP & Corporate Secretary), Clay Killinger (SVP & Controller), Eric Fisher (VP Investor Relations and Corporate Communications), Gary Arthur (President, Retail), Joe Gorder (EVP Marketing and Supply), Hal Zesch (SVP & CIO), Kim Bowers (EVP & General Counsel), Gene Edwards (EVP Corporate Development and Strategic Planning), Rich Marcogliese (EVP & COO) and Mike Ciskowski (EVP & CFO). and improved shareholder returns,” Klesse said in 2008. “Behind every achievement are hard-working, dedicated, smart people who drive our business and care for our communities… Our goal is to continue to foster their growth so that, together, we can realize our vision and the earnings potential of our assets.” For all of its enthusiasm and expertise, even the strongest of wills within the refining industry were challenged in 2008 and 2009. Valero had seen a challenging, 180-degree shift in the refining industry. From drastic reductions in demand for refined products to the disappearance of sour crude discounts, the company required a change in direction. The best course was to evaluate the company’s assets, review operational needs and set the company on a path that could weather the difficult market conditions. That meant making tough decisions, including shedding operations that did not fit Valero’s portfolio for the future. Among them, Lima, Ohio, which sold to Husky Energy in July 2007 for $1.9 billion plus working capital; Krotz Springs, which sold to Alon Energy in July 2008 for $476 million, and Delaware City, which announced permanent closure STAKEHOLDERS We are committed to delivering long-term value to all stakeholders – our employees, investors, and customers – by pursuing profitable, valueenhancing strategies with a focus on worldclass operations. OUR EMPLOYEES Our employees are our # 1 asset and we provide a challenging, enjoyable and rewarding work environment, which fosters creative thinking, teamwork, open communication, respect, and opportunity for individual professional growth and development. THE ENVIRONMENT We are committed to producing environmentally clean products, while striving to improve and enhance the environmental quality of our operations within our local communities. OUR COMMUNITIES We are committed to taking a leadership role in the communities in which we live and work by providing company support and encouraging employee involvement. 23 Valero Lines 3oth anniversary edition
Page 1 and 2: VALERO LINES EXCELLENCE REFINED INS
Page 3 and 4: Heartfelt Thanks to Our Employees W
Page 5 and 6: JULY 28, 1978: Reporters question B
Page 7 and 8: Longtime Valero refinery executive
Page 9 and 10: The original Saber refinery, near t
Page 11 and 12: By the end of its first year, Valer
Page 13 and 14: shape financially and operationally
Page 15 and 16: outreach projects and enthusiasm. T
Page 17 and 18: Barely a month later, Valero became
Page 19 and 20: Crews make a historic sign change a
Page 21: From its early roots with Ultramar
Page 25 and 26: Valero closed the acquisition of fi
Page 27 and 28: AURORA WELCOME ALBERT CITY FORT DOD
Page 29 and 30: Valero San Antonio Volunteer Counci
Page 31 and 32: From the Valero Texas Open to the U
Page 33 and 34: these at-risk children do not make
Page 35 and 36: Katrina. And Port Arthur, which sec
Page 37 and 38: Leaders of several Valero refinerie
Page 39 and 40: 2004. The Ardmore Refinery followed
Page 41 and 42: In 2008, the Valero St. Charles ref
Page 43 and 44: Turbines turn in the glow of a Sunr
Page 45 and 46: Valero Family Album
Page 47 and 48: Amarillo crediT center Joined Valer
Page 49 and 50: Aruba Refinery Joined Valero in 200
Page 51 and 52: Bill Greehey Refinery Joined Valero
Page 53 and 54: Houston Refinery Joined Valero in 1
Page 55 and 56: McKee Refinery Joined Valero in 200
Page 57 and 58: Paulsboro Refinery Joined Valero in
Page 59 and 60: St. Charles Refinery Joined Valero
Page 61 and 62: Three Rivers Refinery Joined Valero
Page 63 and 64: Valero Logistics Operations Valero
Page 65 and 66: Valero Retail Joined Valero in 2000
Page 67 and 68: O R A T I O N S a family of employe
Page 69 and 70: Walter Isom RB Davis Terry Lavergne
Page 71 and 72: Michael Pantaleone Johnny Mika Davi

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