VeraSun Energy Names Duane Gilliam Chairman
July 01 2008 - 8:00AM
PR Newswire (US)
Petroleum Executive Appointed by Board of Directors BROOKINGS,
S.D., July 1 /PRNewswire-FirstCall/ -- VeraSun Energy Corp.
(NYSE:VSE), one of the nation's largest ethanol producers,
announced today that Gordon Ommen has resigned as the Company's
Chairman. Duane Gilliam will assume the role of Chairman of the
Board of Directors. He joined the board in 2005 and currently
serves as Chairman of the Compensation Committee of the Board of
Directors. "I understand and respect Gordon's decision to step down
from the Board to focus on other business opportunities," said Don
Endres, VeraSun's founder and chief executive officer. "He has
helped both teams transition following the merger and provided
valuable, thoughtful leadership to the Board. We wish him much
success with his future ventures." Gilliam has spent nearly four
decades in the oil industry, most recently as executive vice
president of Marathon Ashland Petroleum LLC, and has held the
position of Chairman for the National Petrochemical and Refiners
Association and other leadership positions on several petroleum
industry association boards. "We are pleased to have Duane Gilliam
step into this leadership role on the Board," added Endres. "His
insights into the petroleum market and our customers' business have
helped us to gain a deeper understanding of our own business and
how we serve our customers." Gilliam retired from Marathon Ashland
Petroleum LLC in May of 2003, as executive vice president,
corporate affairs, after serving as president of Ashland Petroleum
Company until it merged with Marathon in 1998. He joined Ashland
Inc. as a process engineer in 1967. Gilliam has also served as a
director on the boards of American Petroleum Institute (API),
Colonial Pipeline, and as Chairman for the National Petrochemical
and Refiners Association (NPRA) and Owner Representative Board of
LOOP LLC. He is currently non-executive Chairman of NTR Acquisition
Company, LLC (AMEX:NTQ), and serves on the Board of
convenience/fuel store chain Super Quik. "It has been a pleasure to
serve on the VeraSun Board as we have transformed the Company from
one operating plant in 2005 into one of the industry leaders," said
Duane Gilliam. "I am optimistic about the outlook for both VeraSun
and the ethanol industry in the coming years as we continue to add
value to the petroleum market and volume to the domestic fuel
supply." Gilliam received his undergraduate degree from the
University of Kentucky and is a graduate of Harvard University's
Advanced Management Program. He is a 2003 inductee into the
University Of Kentucky Engineering Hall Of Distinction. About
VeraSun Energy Corporation VeraSun Energy Corporation (NYSE:VSE),
headquartered in Brookings, S.D., is a leading producer of
renewable fuel. Founded in 2001, the company has more than 1.4
billion gallons of annual ethanol production capacity through 14
biorefineries. Three additional facilities are currently either
under construction or development with a combined capacity of 330
million gallons. Upon completion of the new facilities, VeraSun
Energy will have an annual production capacity of approximately
1.75 billion gallons. Recently, the company began construction at
its Aurora facility that will allow it to extract oil from dried
distillers grains. VeraSun markets E85, a blend of 85 percent
ethanol and 15 percent gasoline for use in Flexible Fuel Vehicles
(FFVs), directly to fuel retailers under the brand VE85(R). For
more information, please visit VeraSun Energy's websites at
http://www.verasun.com/ or http://www.ve85.com/. DATASOURCE:
VeraSun Energy Corp. CONTACT: Investors: Patty Dickerson,
+1-605-696-7236, , or Media: Melissa Ullerich, +1-605-696-7228, ,
both of VeraSun Web site: http://www.verasun.com/
http://www.ve85.com/
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