internal
R. Lane Riggs
Chairman, Chief Executive Officer and President
Executive
3 yr
10 reports
Valero Energy Corporation ·VLO
Refining-first divisional model with operations concentrated under a powerful COO
Energy · Fortune #29 · Divisional structure · 10K employees · San Antonio, TX
View as of:
5
CEO span
↓ tighter than peers (avg 8)
2
Avg span
tight
3
Max depth
3 levels
3.8 yr
Avg tenure
stable vs FY2024
100%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Operating income
$3.2B
Net income
$2.3B
Total assets
$58.0B
Shares out
299M
Sourced from Valero Energy Corporation DEF 14A · filed 2026-03-19 ↗ View on SEC
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Valero Energy Corporation organizational chart
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Refining-first divisional model with operations concentrated under a powerful COO. This page maps Valero Energy’s executive structure, highlights the operational concentration at the top, summarizes leadership tenure and recent CFO succession, and compares Valero’s lean downstream-focused model with refining peers.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Homer Bhullar moved into Senior Vice President and Chief Financial Officer
Promoted effective January 1, 2026 following CFO succession; appointed October 28, 2025.
Source · See change logScenario views in the chart
- Add Chief AI Officer Introduce a Chief AI Officer reporting to the CEO to centralize analytics, optimization, and automation across refining and trading.
- Move Trading under COO Shift Product Supply and Trading from direct CEO oversight to the COO to fully integrate commercial optimization with operations.
Atlas work this supports
- Connect Workday or UKG Get these analytics for YOUR org — tenure, span of control, headcount, automatically from your HRIS.
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- Plan a Reorg Use this as a starting point. Model scenarios, compare structures, present options to your board.
The people
Who's running this
5 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
internal
Gary K. Simmons
Executive Vice President and Chief Operating Officer
Operations
3 yr
2 reports
internal
Homer Bhullar
Senior Vice President and Chief Financial Officer
Finance
0 yr
2 reports
internal
Richard J. Walsh
Executive Vice President and General Counsel
Legal
10 yr
1 reports
internal
Eric A. Fisher
Senior Vice President, Product Supply, Trading and Wholesale
Commercial
3 yr
1 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 4 named executive officers disclosed. Bar length scales with total compensation.
R. Lane Riggs $34.2M
- Base salary
- $1.72M
- Stock awards
- $15.76M
- Non-equity incentive
- $5.48M
- Pension change
- $10.84M
- Other
- $425K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Gary K. Simmons $12.7M
- Base salary
- $988K
- Stock awards
- $5.99M
- Non-equity incentive
- $2.17M
- Pension change
- $3.38M
- Other
- $167K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Richard J. Walsh $7.9M
- Base salary
- $816K
- Stock awards
- $3.31M
- Non-equity incentive
- $1.63M
- Pension change
- $2.04M
- Other
- $140K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Eric A. Fisher $6.2M
- Base salary
- $741K
- Stock awards
- $2.77M
- Non-equity incentive
- $1.25M
- Pension change
- $1.34M
- Other
- $143K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The skin in the game
Beneficial ownership
Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.
| Holder | Shares | % of class |
|---|---|---|
| R. Lane Riggs | 389K | <1% |
| Gary K. Simmons | 247K | <1% |
| Richard J. Walsh | 119K | <1% |
| Eric A. Fisher | 52K | <1% |
The businesses
How Valero Energy Corporation divides the work
4 divisions report into the group CEO. Tile size scales with estimated headcount.
Refining
7K employees
Executive Vice President and Chief Operating Officer (Gary K. Simmons)
Operates and optimizes Valero’s global petroleum refining system.
Renewable Fuels
1K employees
Executive Vice President and Chief Operating Officer (Gary K. Simmons)
Manages ethanol and low-carbon fuel operations integrated with refining.
Product Supply & Trading
600 employees
SVP Product Supply, Trading and Wholesale (Eric A. Fisher)
Optimizes feedstock sourcing, trading, and wholesale distribution.
Finance
500 employees
SVP and Chief Financial Officer (Homer Bhullar)
Oversees finance, investor relations, capital allocation, and controls.
The thesis
Why this org is unusual
Refining and operational control is unusually centralized under the COO, with the bulk of Valero’s divisional P&L responsibility flowing through operations rather than autonomous business-unit CEOs.
The org chart shows a classic downstream energy structure: a powerful COO overseeing refining and renewables, while commercial optimization (product supply and trading) remains a single executive function rather than separate divisional presidents.
This structure reflects Valero’s focus on scale efficiency and margin optimization across a largely homogeneous asset base. Finance, legal, and commercial leaders report directly to the CEO, but do not operate as standalone divisions, reinforcing operational discipline and capital allocation consistency across refineries and ethanol plants.
- COO oversees both refining and renewables
- CFO promoted internally after IR and finance leadership
- No separate divisional CEOs
The comparison
How Valero Energy Corporation stacks up
Compared with peers like Marathon Petroleum and Phillips 66, Valero’s structure is less fragmented, with fewer semi-autonomous segment heads. Some competitors elevate renewables or midstream into separate executive units, while Valero keeps them operationally integrated. This results in a narrower C-suite but heavier …
C-suite size
Reporting depth
Valero Energy Corporation
3 levels
4 levels
5 levels
4 levels
4 levels
Avg C-suite tenure
Has COO / Has CAIO
Valero Energy Corporation ✓ COO — no CAIO
Current signals
What changed recently
Valero executed a planned CFO succession in late 2025, promoting long-tenured internal leader Homer Bhullar as Jason Fraser retired.
- promotedHomer Bhullar Senior Vice President and Chief Financial Officer
Promoted effective January 1, 2026 following CFO succession; appointed October 28, 2025.
Source - departedJason W. Fraser Executive Vice President and Chief Financial Officer
Retired effective December 31, 2025 after long tenure.
Source
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-03-19
- CEO
- R. Lane Riggs
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 3.6 yr
CFO succession announced with internal promotion effective 2026.
Named executive officers (5)
- R. Lane Riggs - Chairman, CEO and President since 2023
- Gary K. Simmons - EVP and COO since 2023
- Richard J. Walsh - EVP and General Counsel since 2016
- Eric A. Fisher - SVP Product Supply, Trading and Wholesale since 2023
- Jason W. Fraser - EVP and CFO since 2017
FY2024
DEF 14A filed 2025-03-18
- CEO
- R. Lane Riggs
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 3.2 yr
Stable post-CEO transition leadership team.
Named executive officers (5)
- R. Lane Riggs - Chairman, CEO and President since 2023
- Gary K. Simmons - EVP and COO since 2023
- Richard J. Walsh - EVP and General Counsel since 2016
- Eric A. Fisher - SVP Product Supply, Trading and Wholesale since 2023
- Jason W. Fraser - EVP and CFO since 2017
FY2023
DEF 14A filed 2024-03-22
- CEO
- R. Lane Riggs
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 2.8 yr
Major internal promotions following CEO succession.
Named executive officers (5)
- R. Lane Riggs - President and CEO since 2023
- Gary K. Simmons - EVP and COO since 2023
- Richard J. Walsh - EVP and General Counsel since 2016
- Eric A. Fisher - SVP Product Supply, Trading and Wholesale since 2023
- Jason W. Fraser - EVP and CFO since 2017
Year-over-year changes
Leadership remained stable with a disclosed, orderly CFO succession plan.
- CEO span: 5 → 5
- C-suite size: 5 → 5
- Avg tenure: 3.2 → 3.6 yr
- promoted Homer Bhullar - CFO (was VP Investor Relations and Finance) (DEF 14A filed 2026-03-19)
Post-succession leadership team settled with no major structural changes.
- CEO span: 5 → 5
- C-suite size: 5 → 5
- Avg tenure: 2.8 → 3.2 yr
The board
Board of directors
10 directors. 9 of 10 independent (90%). Source: most recent DEF 14A.
R. Lane Riggs
Chair Inside
Chairman, CEO and President, Valero Energy Corporation
H. Paulett Eberhart
Lead Indep. Independent
Fred M. Diaz
Independent
Marie A. Ffolkes
Independent
Kimberly S. Greene
Independent
Deborah P. Majoras
Independent
Eric D. Mullins
Independent
Robert L. Reymond
Independent
Randall J. Weisenburger
Independent
Rayford Wilkins, Jr.
Independent
The board, organized
Board committees
1 standing committees. Audit and Compensation must be 100% independent under SEC rules; the rest vary.
Sustainability and Public Policy Committee
100% independent 5 mtgs/yr
- Deborah P. Majoras Chair
- H. Paulett Eberhart
- Kimberly S. Greene
- Rayford Wilkins, Jr.
Frequently Asked Questions
Who is the CEO of Valero Energy?
R. Lane Riggs is Chairman, President, and CEO, having assumed the CEO role in July 2023.
What type of organizational structure does Valero Energy use?
Valero operates a divisional downstream structure centered on refining and renewables, with strong functional oversight.
How many direct reports does Valero Energy's CEO have?
The CEO has five direct executive reports.
How has Valero Energy's leadership changed recently?
In late 2025, Valero promoted Homer Bhullar to CFO as part of a planned succession, following Jason Fraser’s retirement.
Does Valero Energy have a COO?
Yes. Gary K. Simmons serves as Executive Vice President and Chief Operating Officer, overseeing refining and renewables.
Sources
- Form 8-K, Oct 29, 2025
- SEC EDGAR: Valero Energy Corporation DEF 14A Proxy Statement
- SEC EDGAR: Valero Energy Corporation 10-K Annual Report
Reference
Cite this page
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APA 7th
Creately. (2026). Valero Energy Corporation organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/valero-energy/MLA 9th
"Valero Energy Corporation Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/valero-energy/. Accessed .Chicago 17
Creately. "Valero Energy Corporation Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/valero-energy/.Original SEC source View on SEC ↗
Valero Energy Corporation. DEF 14A. Filed 2026-03-19. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1035002/000162828026019806/vlo-20260318.htmPermanent URL: https://creately.com/org-chart/fortune-500/valero-energy/ · last updated 2026-04-01