8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 8, 2006

Tesoro Corporation

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation) 1-3473
(Commission File Number) 95-0862768
(IRS Employer Identification No.)

300 Concord Plaza Drive
San Antonio, Texas
(Address of principal executive offices) 78216-6999
(Zip Code)

(210) 828-8484
(Registrant’s telephone number,
including area code)

Not Applicable
(Former name or former address, if
changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On March 8, 2006 Tesoro Corporation (the “Company”) issued a press release (the “Press Release”) announcing that the Company’s Board of Directors had elected Otto C. Schwethelm as Vice President, Finance and Treasurer and G. Scott Spendlove as Vice President and Controller. Mr. Spendlove will assume the role of Principal Accounting Officer. The new appointments were effective on March 8, 2006 after the filing of the Company’s 2005 Form 10-K. Prior to their new assignments, Mr. Spendlove held the position of Vice President, Finance and Treasurer and Mr. Schwethelm held the position of Vice President and Controller. For additional information regarding the previous business experience of Messrs. Schwethelm and Spendlove, see the Company’s Annual Report on Form 10-K filed on March 7, 2006. The Press Release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

     (c)       Exhibits.

99.1      Press Release issued on March 8, 2006 by Tesoro Corporation.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 13, 2006

TESORO CORPORATION
By:	/s/ GREGORY A. WRIGHT
	Gregory A. Wright
	Executive Vice President
	and Chief Financial Officer

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Index to Exhibits

Exhibit Number	Description
99.1	Press Release issued on March 8, 2006 by Tesoro Corporation.

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EX-99.1

NEWS RELEASE

For More Information:
Natalie Silva	Phillip M. Anderson
Corporate Communications	Investor Relations
210-283-2729	210-283-2832
nsilva@tsocorp.com	panderson@tsocorp.com

Tesoro Board of Directors Elects
Vice President, Finance and Treasurer and Vice President and Controller

SAN ANTONIO, TX (March 8, 2006) — Tesoro Corporation (NYSE:TSO) announced today that the board of directors has elected Otto C. Schwethelm as Vice President, Finance and Treasurer and G. Scott Spendlove as Vice President and Controller. Prior to their new assignments, Spendlove held the position of Vice President, Finance and Treasurer and Schwethelm held the position of Vice President and Controller.

     The new appointments were effective on March 8, 2006 after the filing of the company’s 2005 Form 10-K.

     “Over the past year, we have been engaged in career development with an eye toward advancement opportunities for our employees. The new assignments for Otto and Scott are designed to broaden both their understanding of the corporation and their experience in the finance and accounting arenas,” said Greg Wright, Tesoro Executive Vice President and Chief Financial Officer. “We are committed to providing advancement opportunities for our employees and will continue to focus on helping accelerate career development and expanding the knowledge base of our staff.”

     Schwethelm will be responsible for overseeing Tesoro’s public stakeholders including banks, shareholders, lenders, analysts, rating agencies, insurance underwriters and credit counterparties. Spendlove will gain experience in managing a larger organization across all of the company’s locations and functions, expand his understanding of Tesoro’s accounting systems and benefit from working with independent auditors under Sarbanes-Oxley.

     Schwethelm joined Tesoro in 1998 as a Manager of Economics in the Supply and Optimization organization. He has also served as Vice President of Development and Business Analysis and Vice President of Shared Services, a department he started before being named Vice President and Controller in 2003. Schwethelm holds a bachelor’s degree in accounting from the University of Texas at Austin and is a Certified Public Accountant.

     Spendlove joined Tesoro in 2002 as Vice President of Finance and assumed the additional role of Treasurer in 2003. Prior to Tesoro, he held various positions in accounting, finance, forecasting and planning at Ultramar Diamond Shamrock (UDS) and Unocal. His last position at UDS was Vice President, Corporate Planning and Investor Relations. Spendlove holds a bachelor’s degree in accounting from Brigham Young University and an MBA from California State University.

About Tesoro

Tesoro Corporation, a Fortune 200 company headquartered in San Antonio, Texas, is an independent refiner and marketer of petroleum products. Tesoro operates six refineries in the western United States with a combined rated crude oil capacity of more than 560,000 barrels per day. Tesoro’s retail marketing system includes over 475 branded retail stations, of which over 200 are company operated under the Tesoro^® and Mirastar^® brands. Tesoro’s commercial marketing system includes sales of jet fuel and marine fuels.