Evan Barbosa - Investor Relations Manager. Goff: G, to me, is about decision making, Decision making by the leadership of a company and the board of directors. This site uses Akismet to reduce spam. 7. Goff: Sure, Bob, happy to chat a bit more and I can guess what you want to talk about! Tesoro will assume the $66 million in debt and contribute about $10 million toward working capital, the company said. 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San Antonio-based refiner Tesoro Corp. said Wednesday that it has hired an industry veteran to serve in the newly created position of executive vice president of operations, effective March 21. COTTBUS, GERMANY - APRIL 12: Exhaust plumes from cooling towers at the Jaenschwalde lignite [+] coal-fired power station, which is owned by Vatenfall, April 12, 2007 at Jaenschwalde, Germany. He likes to work long hours, not endure them. If youre got just a bit more time. He says he is especially appreciative of being able to do them in Utah because his business career keeps him so busy it is hard to find time to fit them into his schedule. Unlike most glaciers, Hubbard is advancing vs. receding. the use of artificial intelligence to analyze the risks of investing in a business model and assess [+] the importance of esg in enterprise management. It isnt the first time Goff, whos in his mid-60s, has been a player in an activist shareholder drama. He fixed cars, but eventually hired a mechanic while he went back to the university for a Master of Business Administration degree. Unlike most glaciers, Hubbard is advancing vs. receding. While he recognizes the importance of the stakeholders, he also recognizes that stakeholders do not benefit unless the company as a whole is successful. Goff: Fully support the companies that have developed strategies to decarbonize their business. He also served as Chairman and Chief Executive Officer of Andeavor Logistics LP (formerly Tesoro Logistics LP), a NYSE-listed master limited partnership that owns, operates and develops crude oil and refined products and logistics assets, from April 2011 to 2018. - ExxonMobil's chief executive defended the company at its annual meeting on May 26, 2021 as the oil giant sought to fend off a major activist challenge over its policies to address climate change. Your financial contribution supports our efforts to deliver quality, locally relevant journalism. It was at Tesoro, subsequently renamed Andeavor, that Goff cemented his reputation. We need to continually improve both the input and the output, while eliminating, or significantly eliminating, negative impacts. Eccles: Opinion varies on whether climate change is happening or not and, even if so, how much of that is due to human activity. Goff: When I reflect on all the opportunities and challenges, the list is a mile long. Goff: Unfortunately, yes, for the reason that I stated earlier. Goff: The oil and gas industry is excellent at innovation through engineering. Goss impact once joining Tesoro was to see its stock price rise by more than 700 percent. Mind giving me a recap of this? How Much is the Entire Mortal Kombat Franchise Worth? Executives. Shortly after Goff joined Tesoro, he took steps to shore up the company's top management team following a spate of departures in mid-2010. Is this a fair criticism or not? Greg Goff, left, former Andeavor CEO, and Gary Heminger, current Marathon Petroleum Corp. CEO, plan to leave the Ohio-based refiner. Gregory Goff, who was CEO of San Antonio-based Andeavor when it was bought in 2018 by Marathon Petroleum Corp., is leaving Marathon at the end of this year, the company announced Thursday. Goffs first foray in the oil industry came in his early twenties when he leased the American Oil Station at Kimball Junction in the late 1970s. All rights reserved. In 2018 he was named by the Harvard Business Review as one of the top performing CEOs in the world. Tesoro CEO Goff Meets with Hoeven to Discuss Company's Expansion Plans. Fuel Fix: Get energy news sent directly to your inbox, Hard work is always the best answer to that question, Sankey said last week. Its a sign of how investors have been galvanized by climate change, and also how theyve become dissatisfied with the oil companys poor financial performance in recent years. Goff: We should use coal only when we can completely control the impact on the environment. Most recently he bought 140 units of POL stock worth $11,131 on 9 October 2018. Also, I met and worked with many fascinating people and especially enjoyed working in many different cultures. From 2010 until Goff sold the company to Marathon for $22 billion in 2018, the stock rose 1,032 percent, compared with the 30.5 percent gain in the S&P 500 Energy Index. on Fri, Dec 3, 2021 at 11:42 am, What better time than now to hop in the car and travel to one of Texas' many state parks to enjoy the, A geodesic dome homenear Leon Springs is on the market for $750,000, following a recent $24,000 price reduction, according to its listing., A nearly 25-acre cliffside property on the North Fork Guadalupe River has hit the market for close to $2.7 million, according to, San Antonio's annual citywide party, Fiesta, is generally an easygoing affair. The companys stock is trading at $13 to $14 per share down from the June 2007 high of almost $63. Were not talking about simply finding it to be a nice place to call home. Activist investor Engine No. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Goff: Two things. 5 farmhouses to book for an agritourism getaway, Preorder 'The Legend of Zelda: Tears of the Kingdom' today. We absolutely need to respect and protect our environment. He is definitely the outdoorsy type. It was something he always wanted, she said. Tesoro has said going forward, it plans to reduce corporate expenses by $40 million to $50 million a year, and cut post-retirement benefit expenses by $80 million to $90 million. His mother, life-long Park City resident Catherine Polychronis Goff, said his first jobs in Park City set him on the path hes on today. Vicki Vaughan writes about refining and publicly traded energy companies based in San Antonio. Hutchison was one of the biggest beneficiaries of campaign contributions from Tesoros PAC in the 2010 election cycle, even though she had already announced her retirement. Tesoro was the next step in Goss career due to a bit of espionage. Goss would move from Conoco Phillips to Tesoro after he decided his time with Conoco Phillips had run its course in the development of his career. He would later say that Tesoro had been recruiting him for virtually his entire time at Conoco. Previous article in series: The Thin Green Line She is a native of Port Arthur, a city whose motto once was "We Oil the World.". One bus tour does not a career make, but the feedback about Goss people management skills came from the union guys themselves. Among the recreational things he likes to Germany is planning the construction of 40 new coal-fired power plants, though officials claim the plants are based on technology that radically increases their efficiency. See here for a complete list of exchanges and delays. What are they doing, not doing, and need to do? Oil price. Goff: For the world to succeed, they need to operate like the international oil companies (IOCs). For both groups, there are processes to drive accountability. As of 9 October 2018 he still owns at least 1,626,374 units of Polished.com Inc stock. Prior to joining Marathon, Mr. Goff served as President and Chief Executive Officer of Andeavor from 2010 to 2018, and as Chairman from December 2014 to 2018, of Andeavor (formerly Tesoro Corporation), a leading company in the independent refining and marketing business. Goff least the Crimson Tide to a 19341 season before being fired for possibly April was a rough month for Tesoro. Eccles: Renewable energy is obviously key to the energy transition, and it comes in many forms. Before we dig into these topics, please tell me a bit about your professional career. Specifically, WayRay is known for its AR HUDs for cars. Tesoro, like many independent refiners, had struggled with weakened demand and red ink when the recession dampened demand for its fuels. Eccles: Oil and gas companies are criticized for paying lip service to climate change while lobbying against government policies, perhaps letting the American Petroleum Council doing the dirty work for them. In a Tuesday morning filing with the U.S. Securities & Exchange 1847 Goedeker Inc. operates as an online consumer goods retailer. Goff: Because there is considerable latitude around the three areas of ESG, different groups can tailor an agenda around ESG that meets their self-interests. I do not believe that we have the luxury of driving change without considering and managing the impacts of change. (Photo by Sean Gallup/Getty Images). 1, hes no radical. Lets now focus on the oil and gas companies themselves. Opinions expressed by Forbes Contributors are their own. Tesoro Corp. confirmed that its board hired Greg Goff, a senior vice president of ConocoPhillips, to be its president and chief executive, effective May 1. The Company offers microwave ovens, grills, fridge, dishwashers, dryers, space heaters, furniture, rugs, garbage disposals, lamps, and home improvement products. One possibility to solving the housing crisis discussed at ajoint meeting between the Park City Council and Summit County Council on Tuesdaywas the creation of a regional housing authority; a quasi-governmental body formed to coordinate a collaborative, strategic response to housing. In June 2010, Goff Company Plans Expanded Production in Mandan, New Rail Project To Ship ND Crude WASHINGTON Senator John Hoeven today met with Tesoro CEO Greg Goff to review the companys major expansion plans in North Dakota, including a $35 million, Gregory's mailing address filed with the SEC is C/O EXXON MOBIL CORPORATION, 5959 LAS COLINAS BOULEVARD, IRVING, TX, 75039-2298. You can see the complete history of Mr. Goff stock trades at the bottom of the page. The Jaenschwalde power plant, built by the former East German government in the 1980s, emits 25 million tons of CO2 annually and is among the biggest single producers of CO2 emissions in Europe. We know Greg Goff, this will all be orderly.. Romasko's appointment coincides with the retirement March 21 of Everett Lewis, Tesoro's executive vice president and chief operating officer. the importance of esg in enterprise management, Why Blowing Up Pipelines Will Not Solve The Climate Crisis. Goff: Thank you for the opportunity to engage with you. Luciano Schipelliti is one, Read More Young Entrepreneur to Watch: Luciano SchipellitiContinue, Education is perhaps the most important commodity that anyone can invest in, and it is rewarding on many levels. Dan Romasko will join Tesoro from Suncor Energy Inc. of Canada, where he most recently was vice president of operations integrity and vice president of technical operations and competence. Tesoro CEO Greg Goff told employees that he was creating the new position of executive vice president of operations to replace the chief operating officer's job, Tesoro spokesman Mike Marcy said in an e-mail. He proved early on he had the capacity to engage with diverse groups of people. In the end, he established a great relationship with his traveling companions and their wives who were also on board. 9. Goff: It is important that there be standard, consistent and transparent reporting of data on air emissions, water, waste, and other areas that impact the environment. Tesoro's Greg Goff will keep his spot as San Antonio's highest-paid CEO for at least one more year. 3. This approach makes it difficult to engage in S. That may sound like an easy way out. Marathon eventually buckled and agreed to spin off its Speedway gas station chain. Mr. Goff was President and Chief Executive Officer of Andeavor (an integrated downstream energy company) from 2010 to 2018 and Chairman from December 2014 to 2018. Learn how your comment data is processed. Eccles: At the center of the debate about the energy transition is the role of oil and gas. Our economic system is highly competitive, innovative, resilient, and driven by technology. The change to Andeavor acknowledges the significant progress weve made in becoming a premier refining, marketing and logistics company, and signals our aspiration to continue creating greater value for our stakeholders, Greg Goff, Tesoros president and CEO, said in a news release. It is easy to form agendas around ESG. It became obvious that when Goss joined Tesoro the many challenges presented by the company would not only keep him busy, but happy. The changes that need to be made at Exxon, even under the best of circumstances, will take years, Charlie Penner, a principal at Engine No. An acronym and the words behind it which have become highly politicized. He also had previously been a banker and a financial analyst for Ford Motor Co. (Reporting by Kristen Hays; Editing by Gary Hill). Eccles: Thanks for your views on trends and energy mix. HOUSTON, March 30 (Reuters) - Tesoro Corp. senior vice president Greg Goff to succeed retiring chief executive Bruce Smith. Yet he knows when to dial down the work environment temperature to spend time with his family and return to the recreational advantages of his home state. WebSAN ANTONIO -- Tesoro Corp.'s board of directors elected Greg Goff to be the company's new president and chief executive officer effective May 1, replacing Bruce Smith in these He was friendly and could relate to the everyday worker, an essential skill when selected to be CEO of a major corporation. Create a bonsai tree out of bricks with this $40 LEGO set, Dyson's air purifying headphones have finally arrived, Save on AeroGarden indoor herb growing kits at Amazon. The purpose would be to have standard data with a high degree of integrity to meet the myriad possibilities for all type of uses. You may opt-out by. WebGoff was hired as the head coach of the Alabama Crimson Tide baseball team on June 17, 2016. Currently, Ponomarev is serving as both the companys CEO and the, Read More 10 Things You Didnt Know about Vitaly PonomarevContinue, If youre like most people, you dont have to think very hard to realize how frightening it might be to have a terminal illness or a debilitating disease. Goff: Net-zero is a worthwhile aspiration. In the new job, Romasko, 47, will report directly to Goff and will be responsible for the company's refining, marketing, logistics and marine groups. Eccles: Im afraid youre right but this spurs one last question and I promise it really is the last one. What do they need to do? This includes management, employees, and its overall profitability. Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. And what are some of the most important experiences you had in your career? (Photo by Sean Gallup/Getty Images). Said company is involved in augmented reality. Template. Phil Anderson - President. Portrait, profile, red background. Fast forward to 2021, and hes finally getting the chance to use the full breadth of that experience on the board of Exxon, which operates in all three segments as a vertically integrated oil supermajor. Catherine remembers Greg once saying that working for his uncle at Mount Air was the best preparation for business he could have received. - Greg Goff Catalysts The WTI/Brent spread has rebounded as of late, with Brent appreciating $10+ more than WTI since reaching parity on January 9th, raising refining margins. Goff, whose 29-year energy career began at Conoco in 1981, was unavailable for comment, and ConocoPhillips declined to specify his last day at the company. Tesoro CEO and President Gregory Goff earned total pay of more than $23 million in 2015, according to a recent regulatory filing with the Securities and Exchange Commission. Like other refiners, Tesoro has struggled with paltry margins and sluggish demand for gasoline an diesel fuel, and reported a $140 million loss in 2009. Ive learned a lot. As the story goes, his supervisor intentionally put the upcoming white collar Goff on a bus load of union guys truckers and mechanics. Evan Barbosa - IR Manager. Tenured Harvard Business School professor, now at Oxford University. As CEO of Andeavor, spearheaded a financial Tesoro said it has hired Greg Goff, a former ConocoPhillips executive, as the companys new president and CEO. ExxonMobil faces a number of climate-related votes at the gathering, which went into a one-hour recess late Wednesday morning following speeches from sponsors of the shareholder motions. He began his career at Chevron USA in 1970, according to a company biography. Vote daily now through 5/15 for the 2023 Best Of San Antonio. Smith, 66, will continue as chairman until the companys annual meeting on June 4, when lead director Steven Grapstein will become non-executive chairman. This is a BETA experience. What is missing is the focus on value. Mr. Goff owns over 140 units of Polished.com Inc stock worth over $748,132 and over the last 11 years he sold POL stock worth over $0. We tend to be inclusive of newcomers, and while there are, A sprawling mansion adjacent to country legend George Strait's old house in the Dominion was recently listed for $5 million. The most active insiders traders include Stephen D Newlin, Houman Akhavan, and Richard H Fearon. Prior to joining We have great people who can flourish in this economic system to do the right things. One last question: You know I think the politicization of ESG is crazy and a lot of political theater. Eccles: Finally, and the most controversial, what about the S?. Eccles: You know theres pressure on investors to divest and exclude while others are arguing for shareholders to engage with these companies. Arab world, Middle East, oil industry. When joining Tesoro, the stock price of the company was at $10 a share. Just last October the company had a fire at its Salt Lake City plant. First, continue to eliminate or significantly reduce the CO2 emissions from their business. Like what needs to get done in the next five to 10 years and what issues will take a longer period of time? (Greg) Goff joined Tesoro as President and Chief Executive Officer in 2010. Shortly after Goff joined Tesoro, he took steps to shore up the company's top management team following a spate of departures in mid-2010. Prior to joining Tesoro in 2010, Mr. Goff worked for ConocoPhillips Corporation, an integrated energy company, where he held a number of senior leadership positions, most recently Senior Vice President Commercial from 2008 to 2010.
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