Valero Energy Partners LP General Partner Adds Two Independent Board Members

SAN ANTONIO, Jan. 24, 2014 /PRNewswire/ -- Valero Energy Partners LP (NYSE: VLP), a master limited partnership formed in December 2013 by Valero Energy Corporation ("Valero"), recently appointed two independent members to the board of directors of its general partner. New members Bob Beadle and Tim Fretthold join independent member Randy Larson. The appointment brings the total number of board members to seven, including three independent members.

Beadle retired from Valero as a Corporate Senior Vice President in 2006. He joined Diamond Shamrock Corporation in 1976, and served in various sales, marketing and business management positions, as well as in strategic planning and development. In 1987, Beadle was elected Corporate Vice President of Diamond Shamrock Inc., and held other executive responsibilities there and at successor companies. He joined Valero in 2002, with its acquisition of Ultramar Diamond Shamrock.

Fretthold previously served as Executive Vice President/Chief Administrative & Legal Officer of Ultramar Diamond Shamrock, from 1997 to 2002. He had served as Senior Vice President/Group Executive & General Counsel of Diamond Shamrock Inc., from 1987 to 1996. With predecessor Diamond Shamrock Corporation, from 1977 to 1987, he held positions including Corporate Attorney and Assistant Secretary, Senior Counsel and Corporate Secretary, and Corporate Vice President-Human Resources & Corporate Secretary.

"Bob and Tim are outstanding additions to the board of directors, and we're pleased to welcome them," said Bill Klesse, Chairman of the Board of both the general partner and Valero. "They bring a wealth of experience and knowledge."

In addition to the three independent directors and Klesse, other directors include: Joe Gorder, Valero's President and Chief Operating Officer, who  also serves as the partnership's Chief Executive Officer; Rich Lashway, Valero's Senior Vice President-Commercial Development and Logistics Operations, who also serves as the partnership's President and Chief Operating Officer; and Donna Titzman, Valero's Senior Vice President and Treasurer, who also serves as the partnership's Senior Vice President, Chief Financial Officer and Treasurer. Independent director Larson also serves as a director of the general partner of Oiltanking Partners LP and of MarkWest Energy Partners LP, and served as Chief Executive Officer of the general partner of TransMontaigne Partners LP from September 2006 to August 2009.

About Valero Energy Partners LP
Valero Energy Partners LP is a fee-based, growth-oriented, traditional master limited partnership formed by Valero Energy Corporation to own, operate, develop and acquire crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. With headquarters in San Antonio, Valero Energy Partners' assets include crude oil and refined petroleum products pipeline and terminal systems in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero's refinery located in Port Arthur, Texas, its McKee refinery located in Sunray, Texas, and its refinery located in Memphis, Tennessee.

Contacts
Investors: John Locke, 210-345-3077
Media: Bill Day, 210-345-2928

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SOURCE Valero Energy Partners LP