Valero eliminates stockholder restriction on removing board members without cause

Stockholders can now remove a member of Valero Energy Corp.'s board of directors without cause following changes to the company's bylaws.

The San Antonio-based refining company's bylaws previously stated that stockholders could only remove board members for cause.

Valero (NYSE: VLO) confirmed the changes in a filing with the U.S. Securities and Exchange Commission on Tuesday afternoon.

In a unanimous decision, the board of directors voted to strike the entire removal clause. The amendment took…