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CHEVRON ANNOUNCES REALIGNMENT OF TOP CORPORATE RESPONSIBILITIES; VICE PRESIDENT ED LOWRY TO RETIRE

 SAN FRANCISCO, Nov. 18 ~PRNewswire~ -- Chairman Ken Derr today announced a realignment of responsibilities for Chevron's (NYSE: CHV) two vice chairmen, as well as the restructuring of many corporate staff groups into a separate, streamlined operating unit.
 Effective immediately, the major division of responsibilities between the vice chairmen will be: Dennis Bonney -- oil, gas and coal exploration and production (upstream); Jim Sullivan -- refining, marketing and chemicals (downstream). Formerly, their responsibilities were divided between U.S. operations and international operations.
 "The purpose of this change is to bring the senior management structure more into line with the company's current business strategies," said Derr.
 Other responsibilities will be realigned upon the March 1 retirement of Vice President Ed Lowry, after 37 years of service. Lowry, 64, is a member of the corporation's Executive Committee and is responsible for foreign operations and joint ventures. He is also a director of Caltex Petroleum Corp., American Overseas Petroleum Ltd., and P.T. Caltex Pacific Indonesia, all of which are Chevron affiliates.
 Vice President Dave O'Reilly will become a member of the Caltex Board of Directors, effective March 1. Vice President and Director Bill Crain will become the Chevron representative to American Overseas Petroleum and Caltex Pacific Indonesia.
 Membership of the Executive Committee will be expanded to include the presidents of Chevron's four largest operating companies -- Ray Galvin of Chevron U.S.A. Production Co., Dave Hoyer of Chevron U.S.A. Products Co., Dick Matzke of Chevron Overseas Petroleum Inc., and John Peppercorn of Chevron Chemical Co. The four will rotate membership, with two serving on the committee at any one time.
 Effective Jan. 1, a new operating unit, Chevron Services Co., will be created to consolidate a number of corporate support services for operating companies that previously had been mixed with other corporate support activities.
 "These changes are consistent with recommendations of a study team that recently concluded an in-depth evaluation of the corporate headquarters staff," said Derr.
 Corporate Vice President Lloyd Elkins will become president of Chevron Services Co. Among the activities reporting to Elkins will be administrative services, real estate management, purchasing and information services.
 Elkins will remain Corporate Vice President, Environmental Affairs, providing overall corporate guidance in this important area, and he will remain a member of the Caltex Board of Directors.
 -0- 11~18~92
 ~CONTACT: Larry Shushan, 415-894-2978, or Mike Libbey, 415-894-4440, both of Chevron~
 (CHV)


CO: Chevron Corp.; Chevron Services Co. ST: California IN: OIL SU: PER

TM -- SF004 -- 2381 11~18~92 13:01 EST
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Publication:PR Newswire
Date:Nov 18, 1992
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