Valero Energy Management

Management criteria checks 2/4

Valero Energy's CEO is R. Riggs, appointed in Jan 2020, has a tenure of 4.25 years. total yearly compensation is $20.14M, comprised of 6.2% salary and 93.8% bonuses, including company stock and options. directly owns 0.093% of the company’s shares, worth €46.92M. The average tenure of the management team and the board of directors is 3.5 years and 9 years respectively.

Key information

R. Riggs

Chief executive officer

US$20.1m

Total compensation

CEO salary percentage	6.2%
CEO tenure	4.3yrs
CEO ownership	0.09%
Management average tenure	3.5yrs
Board average tenure	9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has R. Riggs's remuneration changed compared to Valero Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$7b
Dec 31 2023	US$20m	US$1m	US$9b
Sep 30 2023	n/a	n/a	US$11b
Jun 30 2023	n/a	n/a	US$11b
Mar 31 2023	n/a	n/a	US$14b
Dec 31 2022	US$8m	US$1m	US$11b
Sep 30 2022	n/a	n/a	US$9b
Jun 30 2022	n/a	n/a	US$7b
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$13m	US$970k	US$924m
Sep 30 2021	n/a	n/a	-US$443m
Jun 30 2021	n/a	n/a	-US$1b
Mar 31 2021	n/a	n/a	-US$281m
Dec 31 2020	US$9m	US$940k	-US$1b
Sep 30 2020	n/a	n/a	-US$10m
Jun 30 2020	n/a	n/a	US$1b
Mar 31 2020	n/a	n/a	US$425m
Dec 31 2019	US$11m	US$840k	US$2b
Sep 30 2019	n/a	n/a	US$2b
Jun 30 2019	n/a	n/a	US$3b
Mar 31 2019	n/a	n/a	US$3b
Dec 31 2018	US$4m	US$800k	US$3b
Sep 30 2018	n/a	n/a	US$5b
Jun 30 2018	n/a	n/a	US$5b
Mar 31 2018	n/a	n/a	US$4b
Dec 31 2017	US$6m	US$700k	US$4b

Compensation vs Market: R.'s total compensation ($USD20.14M) is above average for companies of similar size in the German market ($USD5.66M).

Compensation vs Earnings: R.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

R. Riggs (57 yo)

4.3yrs

Tenure

US$20,140,932

Compensation

Mr. R. Lane Riggs has been President at Valero Energy Corporation since January 23, 2020 and also served as its Chief Operating Officer January 1, 2018 until 2023. Mr. Riggs serves as Chief Executive Offic...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Joseph Gorder	Executive Chairman	10.2yrs	US$30.04m	0.16% $ 80.8m
R. Riggs	CEO, President & Director	4.3yrs	US$20.14m	0.093% $ 46.9m
Jason Fraser	Executive VP & CFO	3.8yrs	US$10.61m	0.039% $ 19.9m
Gary Simmons	Executive VP & COO	less than a year	US$10.76m	0.063% $ 31.9m
Richard Walsh	Senior VP	3.8yrs	US$5.92m	0.030% $ 15.4m
Mike Zacho	VP of Information Services & Technology	1.3yrs	no data	no data
Homer Bhullar	Vice President of Investor Relations & Finance	3.3yrs	no data	no data
Lillian Riojas	Executive Director of Media Relations & Communications	no data	no data	no data
Richard Lashway	Senior Vice President of Corporate Development & Strategy	no data	no data	no data
Julia Reinhart	Senior VP & Chief Human Resources Officer	8.4yrs	no data	no data
Eric Fisher	Senior Vice President of Product Supply	4.3yrs	no data	no data
John Locke	VP & Treasurer	3.3yrs	no data	no data

3.5yrs

Average Tenure

57.5yo

Average Age

Experienced Management: V1L's management team is considered experienced (3.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Joseph Gorder	Executive Chairman	10.2yrs	US$30.04m	0.16% $ 80.8m
R. Riggs	CEO, President & Director	less than a year	US$20.14m	0.093% $ 46.9m
Robert Profusek	Lead Independent Director	18.6yrs	US$365.08k	0.013% $ 6.7m
Randall Weisenburger	Independent Director	13.3yrs	US$355.06k	0.033% $ 16.7m
Rayford Wilkins	Independent Director	13.3yrs	US$355.06k	0.012% $ 6.0m
Eric Mullins	Independent Director	4.3yrs	US$330.06k	0.0019% $ 975.9k
Kimberly Greene	Independent Director	7.8yrs	US$355.06k	0.0037% $ 1.9m
H. Eberhart	Independent Director	7.8yrs	US$355.06k	0.0038% $ 1.9m
Donald Nickles	Independent Director	19.3yrs	US$330.08k	0.0097% $ 4.9m
Fred Diaz	Independent Director	2.6yrs	US$330.06k	0.00039% $ 197.2k
Deborah Majoras	Independent Director	11.8yrs	US$355.06k	0.0082% $ 4.1m
Marie Ffolkes	Independent Director	1.5yrs	US$330.06k	0.00020% $ 101.1k

9.0yrs

Average Tenure

63yo

Average Age

Experienced Board: V1L's board of directors are considered experienced (9 years average tenure).

Valero Energy Management

Management criteria checks 2/4

Key information

Recent management updates

Valero Energy Corporation, Annual General Meeting, May 15, 2024

Cheryl L. Thomas Intends to Retire as Senior Vice President and Chief Technology Officer of Valero Energy Corporation on or About January 2, 2024

Valero Energy Corporation Elects Marie A. Ffolkes an Independent Director and to the Board’s Nominating and Corporate Governance Committee

President & COO recently sold €1.9m worth of stock

Valero Energy Corporation, Annual General Meeting, Apr 29, 2021

Recent updates

First quarter 2024 earnings released: EPS: US$3.76 (vs US$8.29 in 1Q 2023)

Valero Energy Corporation, Annual General Meeting, May 15, 2024

Valero Energy Corporation to Report Q1, 2024 Results on Apr 25, 2024

Full year 2023 earnings released: EPS: US$24.95 (vs US$29.08 in FY 2022)

Full year 2023 earnings released: EPS: US$25.03 (vs US$29.08 in FY 2022)

Upcoming dividend of US$1.07 per share at 3.2% yield

Valero Energy Corporation Increases Regular Cash Dividend, Payable on March 4, 2024

Valero Energy Corporation to Report Q4, 2023 Results on Jan 25, 2024

Valero Energy Corporation Declares Regular Cash Dividend on Common Stock, Payable on December 20, 2023

Third quarter 2023 earnings released: EPS: US$7.51 (vs US$7.20 in 3Q 2022)

Valero Energy Corporation (NYSE:VLO) announces an Equity Buyback for $2,500 million worth of its shares.

Cheryl L. Thomas Intends to Retire as Senior Vice President and Chief Technology Officer of Valero Energy Corporation on or About January 2, 2024

Valero Energy Corporation to Report Q3, 2023 Results on Oct 26, 2023

Second quarter 2023 earnings released: EPS: US$5.43 (vs US$11.57 in 2Q 2022)

Upcoming dividend of US$1.02 per share at 3.3% yield

Valero Energy Corporation Declares Regular Quarterly Cash Dividend, Payable on September 5, 2023

Valero Energy Corporation to Report Q2, 2023 Results on Jul 27, 2023

Now 22% undervalued after recent price drop

Valero Energy Corporation Declares Regular Quarterly Cash Dividend on Common Stock, Payable on June 22, 2023

Now 20% undervalued after recent price drop

First quarter 2023 earnings released: EPS: US$8.31 (vs US$2.21 in 1Q 2022)

Full year 2022 earnings released: EPS: US$29.08 (vs US$2.27 in FY 2021)

Valero Energy Corporation Increases Regular Cash Dividend, Payable on March 16, 2023

Full year 2022 earnings released: EPS: US$29.19 (vs US$2.27 in FY 2021)

Valero Energy Corporation to Report Q4, 2022 Results on Jan 26, 2023

Upcoming dividend of US$0.98 per share

Valero Energy Corporation Elects Marie A. Ffolkes an Independent Director and to the Board’s Nominating and Corporate Governance Committee

Valero Energy Corporation Declares Regular Cash Dividend on Common Stock, Payable on December 8, 2022

Third quarter 2022 earnings released: EPS: US$7.22 (vs US$1.14 in 3Q 2021)

Second quarter 2022 earnings released: EPS: US$11.62 (vs US$0.39 in 2Q 2021)

Upcoming dividend of US$0.98 per share

Valero Energy Corporation Declares Regular Cash Dividend on Common Stock, Payable on September 1, 2022

Valero Energy Corporation (NYSE:VLO) announces an Equity Buyback for $2,500 million worth of its shares.

Investor sentiment deteriorated over the past week

Valero Energy Corporation to Report Q2, 2022 Results on Jul 28, 2022

President & COO recently sold €1.9m worth of stock

Upcoming dividend of US$0.98 per share

First quarter 2022 earnings released: EPS: US$2.22 (vs US$1.73 loss in 1Q 2021)

Valero Energy Corporation to Report Q1, 2022 Results on Apr 26, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Upcoming dividend of US$0.98 per share

Upcoming dividend of US$0.98 per share

Third quarter 2021 earnings released: EPS US$1.14 (vs US$1.14 loss in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.39 (vs US$3.08 in 2Q 2020)

Upcoming dividend of US$0.98 per share

Valero Energy Corporation(NYSE:VLO) dropped from Russell Top 200 Index

Upcoming dividend of US$0.98 per share

First quarter 2021 earnings released: US$1.73 loss per share (vs US$4.53 loss in 1Q 2020)

Valero Energy Corporation Provides Earnings Guidance for the First Quarter of 2021

Valero Energy Corporation, Annual General Meeting, Apr 29, 2021

Revenue beats expectations

Full year 2020 earnings released: US$3.50 loss per share (vs US$5.85 profit in FY 2019)

New 90-day high: €59.13

New 90-day high: €51.00

Revenue beats expectations

Darling Ingredients Inc. and Valero Energy Corporation Announces Update on Joint Venture

Valero Energy Corporation to Report Q4, 2020 Results on Jan 28, 2021

New 90-day high: €48.65

Third quarter earnings released

Third-quarter earnings released: Revenue beats expectations

Third-quarter earnings released: Revenue beats expectations

Third quarter earnings released

New 90-day low: €33.56

New 90-day low: €38.40

Valero Energy Corporation to Report Q3, 2020 Results on Oct 22, 2020

New 90-day low - €42.45

New 90-day low - €43.24

CEO Compensation Analysis

CEO

Tenure