Nustar chairman retiring; CEO takes charge
Bill Greehey, a San Antonio business leader and philanthropist, is stepping down from his longtime role as chairman of Nustar Energy’s board.
Greehey, 86, will become chairman emeritus effective immediately and President and CEO Brad Barron will be the San Antonio pipeline company’s new chairman.
“It is with mixed emotions that I have made the decision to retire,” Greehey said Thursday in a statement. “But I look forward to continuing to be active in philanthropic activities with Nustar in the community and in supporting Haven for Hope and the many vital nonprofits in the San Antonio area.”
He said he will continue to be one of Nustar’s biggest investors in his new role. He had served as chairman of Nustar and its predecessor Valero L.P. since 2001.
Greehey was the founding CEO and chairman of Valero Energy Corp. from the company’s establishment in 1980 until the mid-2000s. The company — which he said he named after Mission San Antonio de Valero, the original name of the Alamo — is the nation’s largest refiner.
He retired as the company’s CEO in 2005 and as chairman in 2007, when Nustar was spun off from Valero.
Greehey then turned Nustar into one of the biggest pipeline and terminal operators in the nation, the company said. It owns more than 10,000 miles of pipeline as well as 63 terminal and storage facilities.
In 2012, The Harvard Business Review named him one of the best-performing CEOS in the world based on his tenure as CEO of Valero, ranking No. 12 in the U.S and No. 31 in the world.
Barron described Greehey as “a pioneer and a legend” in the energy industry and a generous philanthropist who has given millions of dollars to local causes.
“We all owe him a huge debt of gratitude for establishing our strong corporate culture, making Nustar one of the best places to work in corporate America, and
making our communities better places to live and work,” Barron said.
Greehey has a long record of philanthropic efforts in San Antonio.
He created The Greehey Family Foundation in 2003 and has given more than $200 million to it. According
to its website, the foundation’s emphasis is on supporting health and human welfare issues, children’s causes, education, and the homeless.
He raised more than $100 million to found the Haven for Hope homeless shelter in 2010 and continues to serve as its chairman.
Greehey has also donated millions to UT Health for research and treatment of children’s cancer and a cure for Alzheimer’s and more than $31 million to create the Greehey School of Business at St. Mary’s University, his alma mater, Nustar said.
He has also given millions to other local universities and nonprofits.