Mr Goff replaces Bruce Smith in those roles. Mr Smith will continue as chairman of the board until the company’s annual meeting on June 4, at which time he plans to retire after 18 years of service with the company. At that time, Steven Grapstein, currently lead director, will assume the role of non-executive chairman.

Mr Grapstein said: “The board welcomes Greg to Tesoro in his new role. In today’s challenging refining market, the board was determined to find an experienced executive with a broad refining industry background from a leading industry major and a person with a distinguished domestic and international career. We looked for a solutions-oriented executive who could provide the steady leadership needed to move Tesoro into the future. We know we have found that person in Greg Goff.”

Mr Goff said: “I am excited about this opportunity to lead Tesoro going forward. Along with the rest of the management team, I know we will be up to the challenge of leading the company through the difficult refining industry environment that we face and continuing the success that Tesoro has had in the past.”