CFO Change at Tesoro

Sterin to replace departing Spendlove

Published in CSP Daily News

Steven Sterin

SAN ANTONIO -- Tesoro Corp. has announced that Steven Sterin will join Tesoro as executive vice president and chief financial officer, effective Aug. 18, 2014, and Cynthia (CJ) Warner will join Tesoro as executive vice president of strategy and business development, effective Oct. 6, 2014.

Scott Spendlove, who has served as the company's CFO Officer since May 2010, is leaving to pursue other interests.

"I thank Scott for his many contributions to Tesoro during his 12-year tenure and wish him all the best as he moves onto other endeavors," said Tesoro president and CEO Greg Goff.

Sterin joins Tesoro from Celanese Corp., a global technology and specialty materials company, where he held financial leadership positions of increasing scope, including service as senior vice president and CFO. Previously, he worked for Reichhold Inc. and Price Waterhouse LLP.

"With his demonstrated track record of financial and business leadership, Steven will be a great asset to Tesoro. He will be a key member of the executive team that will help us deliver on our ambitious plans," said Goff.

Warner will join Tesoro as executive vice president of strategy and business development from Sapphire Energy, a global leader in the development of renewable crude oil from algae, where she was president, chief executive officer and chairman over the past five years. Prior to joining Sapphire Energy, CJ held numerous leadership positions with BP including group vice president of global refining and group vice president of health, safety, security, environmental and technology.

"CJ is an accomplished executive with a strong track record of delivering results. I am very pleased to have her join Tesoro and our leadership team at this exciting time for our Company. The addition of these two talented executives strengthens our leadership capability and ability to deliver industry leading results," said Goff.

San Antonio-based Tesoro is an independent refiner and marketer of petroleum products. Through its subsidiaries, it operates six refineries in the western United States. Tesoro's retail marketing system includes more than 2,200 gas stations under the ARCO, Shell, Exxon, Mobil, USA Gasoline and Tesoro brands.