Senior Management Changes, Corporate Re-organizations, Pricing of Senior Notes, and New Appointments - Analyst Notes on Valero, Hess, Tesoro, Airgas, and Celanese
March 14, 2014 at 08:00 AM EDT
NEW YORK, March 14, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Valero Energy Corporation (NYSE: VLO), Hess Corporation (NYSE: HES), Tesoro Corporation (NYSE:TSO), Airgas Inc. (NYSE: ARG), and Celanese Corporation (NYSE: CE). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.AnalystsReview.com/register
Valero Energy Corporation Analyst Notes
On March 3, 2014, Valero Energy Corporation (Valero) announced that its CEO Bill Klesse has informed the Company of his intentions to step down from his current role, with effect May 1, 2014. Klesse will continue to serve as a Valero Director and Chairman of the Board. In relation to this, Joe Gorder,Valero's President and Chief Operating Officer, has been elected as the CEO, effective May 1, 2014. Gorder was also appointed as a director by the Company's Board and will join immediately. Klesse commented, "I would like to thank our employees, Valero's shareholders, our customers and suppliers, and our communities where we live and work for the support they have given Valero and me. I ask that these same stakeholders give Joe the same support they have given me." Gorder added, "Bill has done a great job of leading Valero, and he has positioned the company very well to continue to succeed." The full analyst notes on Valero Energy Corporation are available to download free of charge at:
Hess Corporation Analyst Notes
On March 11, 2014, Hess Corporation (Hess) announced that its Board of Directors will appoint Terrence J. Checki, a Management Committee member at the Federal Reserve Bank of New York, to the Company's Board of Directors, effective May 1, 2014. Commenting on the decision, Mark Williams, Hess' Non-Executive Chairman said, "Terry has decades of experience navigating complex domestic and international financial issues for one of the world's most important financial institutions. His insights into the many factors influencing domestic economic development, as well as those affecting many of the international markets in which we operate, add a unique and important perspective to our Board. We look forward to his contributions as Hess advances a plan that the Board believes will continue to deliver strong, sustainable returns to shareholders." Checki added, "I am honored to have the opportunity to join the world class Hess Board. I look forward to working together with the Board and management as the Company continues to successfully execute on its strategy to drive growth and increase shareholder value." The full analyst notes on Hess Corporation are available to download free of charge at:
Tesoro Corporation Analyst Notes
On March 4, 2014, Tesoro Corporation (Tesoro) announced the pricing of its $300 million 5.125% Senior Notes due 2024 (the Notes Offering). The Company expects the offering to close on March 18, 2014, and plans to utilize the net proceeds, along with cash on hand, to finance the redemption of all of its outstanding 9.75% Senior Notes due 2019, subject to customary conditions. RBS Securities Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., and Mitsubishi UFJ Securities (USA), Inc. are serving as joint book-running managers for the Notes Offering. The full analyst notes on Tesoro Corporation are available to download free of charge at:
Airgas Inc. Analyst Notes
On March 6, 2014, Airgas Inc. (Airgas) announced the reorganization of its North Central distribution region, with immediate effect, into two separate regions within the Company's North Division - a redefinedNorth Central region, headquartered in Appleton, Wisconsin, and a new Midwest region, headquarteredin the Chicagoland area. Michael L. Molinini, Airgas President and CEO, commented, "We are optimistic about the long-term prospects for the U.S. manufacturing industry, as structural drivers like the abundant supply of low-cost energy and higher shipping costs from overseas should favor the U.S. for years to come. U.S. manufacturing should also benefit from future growth in the non-residential construction and energy industries. We're positioning our resources in this area of the country to enhance our competitive position and assure that we fully capitalize on these long-term growth prospects in what is already one of the largest industrial gas markets in the U.S." The full analyst notes on Airgas Inc. are available to download free of charge at:
Celanese Corporation Analyst Notes
On March 10, 2014, Celanese Corporation (Celanese) announced the appointment of Amy Hebert as Vice President, Europe region. The Company informed that Hebert has joined Celanese from Albemarle Corporation where she most recently led the catalyst business as vice president.Commenting on the appointment, Mark Rohr, Chairman and CEO of Celanesesaid, "Amy's leadership skills and industry knowledge will be an asset to our long-term success in Europe, which accounts for almost 40 percent of our global sales. In her new role in Europe, Hebert will be accountable for profitably growing Celanese's businesses in the region, optimizing manufacturing and maintaining cost competitiveness." The full analyst notes on Celanese Corporation are available to download free of charge at:
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