SAN ANTONIO -- Valero Energy Corp. once again has been named one of Fortune magazine's 100 Best Companies to Work For and one of Forbes magazine's Platinum 400 Best Big Companies.
In the Fortune list, printed in its January 22 issue, Valero ranked No. 22 overall and No. 6 among large employers (defined as companies with 10,000 employees or more). Valero has earned a rank every year it has been eligible since it first appeared on the list in 2000recognizing the company's 1999 results.
Valero CEO Bill Klesse recognized the employees' [image-nocss] hard work and dedication and credited them with making these prestigious rankings possible. As in years past, Valero is the only San Antonio company and the only refining/marketing company represented in the rankings, he said.
Fortune magazine noted, Of the 23 refineries designated by OSHA as having the best safety programs, 11 are Valero units. The article further lauded Valero, Another plus: The company has never laid off a single employee.
Fortune's rankings are compiled by the Great Place to Work Institute in San Francisco, which bases its results on two criteria: an evaluation of each company's policies and culture, and the opinions of employees. Worker feedback is given the most weight, as two-thirds of the total score comes from employee responses to a 57-question confidential survey. It is considered the most extensive employee survey in corporate America, with more than 105,000 employees from 446 companies responding.
Forbes magazine compiles its Platinum 400 list by screening more than 1,000 publicly traded companies with $1 billion or more in revenue, and reviewing financial data such as stock market returns, sales and earnings-per-share growth and debt-to-capitalization ratios.
Valero has often credited the company's unique corporate culture as one of the reasons for its success. Some of Valero's benefits include all-employee bonuses, medical/dental insurance, disability insurance, life insurance and flexible spending accounts. Valero is also one of the few U.S. companies to provide both a pension and 401(k) retirement savings plan.
The company is known for its commitment to employee safety. With 11 Star Sites, Valero has more refineries that have achieved this rigorous safety certification in OSHA's prestigious Voluntary Protection Program than any other refiner.
Valero employees also are known for their strong commitment to their communities. The company's volunteer program gives employees the opportunity to participate in community initiatives on work time as well as volunteer time. In 2006, Valero employees are estimated to have volunteered more than 220,000 hours to help worthy causes in the communities where the company has business operations.
Valero and its employees also gave a record-breaking $13 million to United Way in 2006, and retail employees raised approximately $2.4 million for MDA and Children's Miracle Network through fundraising campaigns in the company's stores. And, the record-breaking $7 million charitable contribution raised through last year's Valero Texas Open and Valero Benefit for Children Golf Classic made history, as it was the largest donation in the PGA TOUR's history.
Valero owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day. It is also one of the nation's largest retail operators with more than 5,500 retail and branded wholesale outlets in the United States, Canada and the Caribbean under brand names including Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon.
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