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Old 12-11-2007, 03:46 PM
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Location: Ohio
17,035 posts, read 34,504,159 times
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Couple of big announcements at two of SA's largest employers today. USAA has announced that it's Chairman and CEO Robert G. Davis has retired. Valero Energy Corp. also announced that President Greg King will resign and leave the company effective Dec. 31.

MySA.com: Clocking In: San Antonio Business News
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Old 12-11-2007, 03:51 PM
 
Location: San Antonio, TX
385 posts, read 566,617 times
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I work at USAA and this is breaking news to me. Today is my day off so I'm sure my co-workers who are working today probably already know. Man I don't know what to think. I just watched the quarterly company meeting the other day and I felt a lot of confidence in where Bobby (we're close like that - not really) had the company headed. I guess I feel a bit saddened by the news.
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Old 12-11-2007, 03:52 PM
 
Location: Texas
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What was the reason?
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Old 12-11-2007, 04:05 PM
 
925 posts, read 975,396 times
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I bet a lot of people at USAA are extremely excited to hear the news today.
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Old 12-11-2007, 06:36 PM
 
592 posts, read 1,872,845 times
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is there something they know that we dont
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Old 12-11-2007, 06:49 PM
 
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Is this just a corporate way of saying that they were fired?
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Old 12-11-2007, 07:07 PM
 
Location: Mid South Central TX
3,215 posts, read 7,752,362 times
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Quote:
Originally Posted by imaterry78259 View Post
Is this just a corporate way of saying that they were fired?
Well, when both McDermott and Herres stepped down, there was a transition period, and it wasn't overnight...
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Old 12-11-2007, 10:45 PM
 
Location: San Antonio, TX
385 posts, read 566,617 times
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Supposedly there's a bit of a scandal involved with Bob Davis "electing" to retire. Read the comments on the article linked on the first post.
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Old 12-16-2007, 05:15 AM
 
Location: Nashville, TN
189 posts, read 858,652 times
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Any additional information on Bob King leaving Valero? I see that Valero was named one of Fortune Magazine's Top Ten Blue Ribbon Companies for 2007. That's their best of the best.
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Old 12-16-2007, 06:34 PM
 
418 posts, read 1,140,885 times
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I read an article saying that Valero was heading in a new direction. Wish I could remember the link. I believe it was in san antonio express.

Ie. Spinning off and/or shutting down refineries. Instead of the growth and consolidation phase they'd been going through.
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