Anadarko President & CEO James T. Hackett Named Chairman of the Board; Robert J. Allison, Jr. Named Chairman Emeritus.HOUSTON -- Anadarko Petroleum Corporation Anadarko Petroleum Corporation (NYSE: APC) is one of the world’s largest independent oil and gas exploration and production companies, with 2.37 billion barrels of oil equivalent (BOE) of proved reserves and a production of 190 million BOE in 2004. Ranked No. (NYSE NYSE See: New York Stock Exchange :APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. ) announced today that Robert J. Allison, Jr. will resign as Chairman of the Board. Anadarko President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jim Hackett will take on the additional role of Chairman. Both changes will be effective Jan. 1, 2006. Allison will remain as an active director. The Board has bestowed the honorary title Honorary title may refer to:
"I have been very fortunate in my career to have been given the opportunity to lead this company from a small start up with about 150 million barrels of reserves and 280 employees to a multi-national E&P company with over $20 billion in assets, more than two billion barrels of reserves and 3,400 dedicated and talented employees," Allison explained. "Jim Hackett has demonstrated vision and leadership as our CEO, and I have full confidence in his ability going forward to lead Anadarko and its Board." Allison, 66, joined Anadarko Petroleum Company in 1973. He was named President in 1976 and CEO in 1979. In 1986, he was named Chairman and CEO of Anadarko Petroleum Corporation following its spin-off from Panhandle Eastern Corporation. "I came to Anadarko because of my respect for Bob Allison and the company he successfully built over several decades," Hackett said. "It has been a great experience working as a partner of Bob's over the last two years, and I thank him for bringing me to Anadarko. I look forward to many additional years of joint service on the Board as we continue working to grow the company." Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare. As of year-end 2004, the company had 2.37 billion BOE BOE Based on Experience BOE Board of Education BOE BoletÃn Oficial del Estado (Spanish) BOE Bank of England BOE Board of Equalization BOE Board of Elections BOE Barrel of Oil Equivalent BOE Bind on Equip of proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. , making it one of the world's largest independent exploration and production companies. Anadarko's operational focus in North America extends from the deepwater Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , up through the Canadian Rockies and onto the North Slope of Alaska. Anadarko's international operations are focused on its major positions in Algeria, Venezuela and Qatar, and exploration or production operations in several other countries. For more information about how Anadarko is bringing excellence to the surface, please visit: www.anadarko.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion