Tesoro Updates Executive Responsibilities
August 24 2016 - 08:30AM
SAN ANTONIO - Aug. 24, 2016 - Tesoro Corporation
(NYSE:TSO) today announced updates to its executive
responsibilities.
-
Keith Casey, EVP, Operations, will
become EVP, Marketing & Commercial, responsible for increasing
value capture across all commercial activities within the
Company.
-
CJ Warner, EVP, Strategy & Business
Development, will become EVP, Operations, responsible for driving
operating efficiency and effectiveness across Tesoro's refining and
logistics operations.
-
In addition to his current responsibilities,
Steven Sterin, EVP, Chief Financial Officer, will become EVP, Chief
Financial Officer & Corporate Development, also assuming
corporate development in support of the Company's growth
plans.
"Tesoro has achieved excellent results over the
past several years through focus on and commitment to our strategic
priorities. Today, we are announcing changes that will further
strengthen our ability to deliver industry leading returns through
our integrated value chain business model, drive operational
efficiency and effectiveness, and execute our value-driven growth
and business development opportunities. These changes will drive
increased responsibility and collaboration across the business,
leading to improved profitability," said Greg Goff, Chairman,
President and Chief Executive Officer of Tesoro Corporation.
ABOUT TESORO CORPORATION
Tesoro Corporation, a Fortune 100 company, is an independent
refiner and marketer of petroleum products. Tesoro, through its
subsidiaries, operates seven refineries in the western United
States with a combined capacity of over 895,000 barrels per day and
ownership in a logistics business, which includes an interest in
Tesoro Logistics LP (NYSE: TLLP) and ownership of its general
partner. Tesoro's retail-marketing system includes over 2,400
retail stations under the ARCO®,
Shell®,
Exxon®,
Mobil®, USA
Gasoline(TM), Rebel(TM) and Tesoro® brands.
This press release contains
certain statements that are "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements relate
to, among other things: the ability of these
changes in executive responsibilities to further strengthen our
ability to deliver industry leading returns through our integrated
value chain business model, drive operational efficiency and
effectiveness, and execute our value-driven growth and business
development opportunities, as well as the expectation that these
changes will drive increased responsibility and collaboration
across the business, leading to improved profitability. For more information concerning factors that could affect
these statements, see the respective annual reports on Form 10-K,
quarterly reports on Form 10-Q and current reports on Form 8-K for
Tesoro Corporation and Tesoro Logistics LP, filed with the
Securities and Exchange Commission. We undertake no obligation to
publicly release the result of any revisions to any such
forward-looking statements that may be made to reflect events or
circumstances that occur, or which we become aware of, after the
date hereof.
Investors:
Sam Ramraj, Vice President, Investor Relations, (210)
626-4757
Media:
Tesoro Media Relations, Media@tsocorp.com, (210) 626-7702
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Tesoro Corporation via Globenewswire
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