Fortune 500 Rank: 26
CEO Start Date: January 2006
What was Valero's strategy to get through the recession? We were looking at reducing costs, our work process, how we optimized around our refineries, and all those kinds of stewardship items that you hear from everybody.
We went ahead and tried to optimize our portfolio into the strategic areas that we felt we were the strongest, and let a couple of these other assets go to other companies.
What's the greatest challenge to growing your business in this current economy?
We sell fuels, and gasoline tends to be fuel that people use to drive to work, to take vacation, to drive the kids. Diesel fuel tends to be tied more to industrial trucking the railroads, and then of course there's jet fuel--so we need people to get back to work.
What will 2011 look like for Valero?
I think 2011 is going to be a little better year than it has been in 2010. I see the economy recovering, even though it's been very slow.
What CEO -- past or present -- do you most admire and why?
I've worked for 3 different Valero CEOs directly. I've seen things that I've thought they've done very well and things they didn't do very well, so I have to consciously try to take the strengths that they have and try to put them into my portfolio.
NEXT: Tom Farrell
