Texaco announces realignment of Texaco USA Division.realigning its Texaco USA Division, including making several senior management changes within the Division -- all designed to accelerate the implementation of the company's aggressive plan for growth. Texaco USA (TUSA TUSA Tabata USA TUSA Transportadores Universales SA (Spain) TUSA Tonka United Soccer Association (Minnesota, USA) TUSA Turkish Student Association TUSA Third United States Army ) encompasses all aspects of exploration, producing, refining, transportation, and marketing of natural gas, petroleum and petroleum products in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Division also oversees domestic purchases, trades and resale of crude oil, as well as Texaco's extensive U.S. crude and product pipeline systems. In commenting on the announcement, Texaco Inc. Senior Vice President and President of TUSA Glenn F. Tilton said: "The realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. we are announcing today improves our operating efficiencies by reducing layers of management, shortening reporting lines and enhances our agility and effectiveness. In this simplified structure, each discrete business unit has the resources and flexibility to pursue the most appropriate strategy to enhance shareholder value." The realignment changes, effective January 1, 1996, are: - Texaco Natural Gas Inc. (TNGI) will become a stand-alone unit and report directly to the President of TUSA. TNGI is responsible for the company's domestic natural gas processing Natural gas processing plants, or fractionators, are used to purify the raw natural gas extracted from underground gas fields and brought up to the surface by gas wells. The processed natural gas, used as fuel by residential, commercial and industial consumers, is almost pure , gas liquids, gas pipelines, gas sales and marketing, and is expected to play a significant role in the company's growth plans. TNGI currently is a unit of Texaco Exploration and Production Inc. (TEPI TEPI Training Equipment Planning Information ). - Texaco Lubricants Company North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. (TLC TLC total lung capacity; thin-layer chromatography. TLC abbr. 1. thin-layer chromatography 2. ) also becomes a stand-alone unit and will report directly to the President of TUSA. TLC is a major North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. manufacturer and marketer of premium automotive lubricants including Havoline Formula3 Motor Oil, and other commercial and industrial lubricants and antifreeze antifreeze, substance added to a solvent to lower its freezing point. The solution formed is called an antifreeze mixture. Antifreeze is typically added to water in the cooling system of an internal-combustion engine so that it may be cooled below the freezing point coolant coolant (kōō´l  nt),n products. TLC now reports to Texaco Refining and Marketing Inc. (TRMI). - Credit Card Services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. moves from under the TRMI umbrella, reporting directly to TUSA through the Division's Fiscal Director. The Credit Card Services unit is responsible for all credit card sales, which includes bank cards, travel and entertainment cards and all Texaco credit cards. In addition, Credit Card Services handles credit card processing for Star Enterprise, TRMI, Texaco Lubricants Company and Texaco's International Aviation Sales Department. The unit also processes sales for non-Texaco entities. - TRMI, which will focus exclusively on the company's refining and marketing operations on the West Coast and in the Mid- Continent regions, will remain headquartered in Los Angeles and will report to TUSA's President, as will Houston-based Texaco Exploration and Production Inc. (TEPI) and Texaco Trading and Transportation Inc. (TTTI TTTI Technical Teachers' Training Institute ), located in Denver. Management assignments, all effective January 1, include: - Thomas M. Matthews, Texaco Inc. Vice President and currently President of TRMI, assumes responsibility for the company's worldwide operations involved in natural gas processing, gas liquids, gas pipelines, gas sales and marketing. - L. Wilson Berry, Jr., currently Regional Director - U.K. and Ireland, and Managing Director - Manufacturing and Marketing for Texaco Limited in London assumes the position of President of TRMI and will relocate to Los Angeles. - Clarence P. Cazalot, Jr., Texaco Inc. Vice President and President of TEPI, has been named as Texaco's Lead Director on the Star Enterprise Management Committee, which oversees the activities of Star Enterprise, the 50/50 joint venture partnership between subsidiaries of Texaco and Saudi Aramco. Cazalot replaces Matthews in this position and joins Robert C. Oelkers, Texaco Inc. Comptroller, and John F. Boles, Vice President of Planning and Administration for TRMI, as Texaco's representatives on the committee. In addition to the above; Cazalot, Arthur A. Nicoletti and S. Shariq Yosufzai will continue to serve as Presidents of TEPI, TTTI and TLC respectively. Credit Card Services will report to Thomas P. Dougherty, Jr., Fiscal Director and Comptroller of TUSA. "We have set ambitious and rigorous operating and earning targets for each of these units," noted Tilton. "It is critical that each unit be led by individuals who possess a keen understanding and appreciation of the competitive circumstances unique to each business. We have selected experienced and talented executives to set the appropriate strategy and guide each of these businesses during an intensely competitive period in our industry." CONTACT: David J. Dickson, 914-253-4128 Paul E. Weeditz, 713-752-6475 |
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