press release

Chevron Press Release - Chevron Announces Three Executive Changes

SAN FRANCISCO, July 19, 2000 -- Chevron Corp. today announced Corporate Vice President and Treasurer George K. Carter has decided to retire after a distinguished career spanning nearly 40 years in financial management.

"George's contribution to Chevron has been significant," said Chairman and CEO Dave O'Reilly. "Over the past 10 years, George has effectively guided our financing strategy and enhanced our relationship with the financial community."

Carter will be succeeded by David M. Krattebol, a 30-year veteran of Chevron currently serving as president of Chevron San Jorge in Buenos Aires, Argentina. Krattebol will assume his new responsibilities Aug. 1.

In a separate action, Corporate Comptroller Stephen J. Crowe has been named a corporate vice president, reflecting his outstanding contributions and expanded functional responsibilities.

Carter, 64, a native of Toledo, Ohio, was appointed to his current position in 1989. He earned a bachelor's degree in economics and mathematics and subsequently a master of business administration from Stanford University, and he served in the U.S. Navy prior to joining Chevron. He was appointed comptroller of Chevron International in 1971, comptroller of Chevron Chemical in 1973, assistant comptroller for the corporation in 1974, comptroller of Chevron U.S.A. Inc. in 1981, comptroller of the corporation in 1983, and vice-president, finance, for Chevron U.S.A. Inc., in 1986.

Krattebol, 55, an Illinois native, earned a bachelor's degree in economics and mathematics from Wabash College and a master of business administration from Stanford University. After serving in the U.S. Navy, he joined Chevron as a financial analyst.

Following various financial and supervisory positions in San Francisco and abroad, Krattebol was appointed manager of financial controls for Chevron Corp. in 1981.

He was named vice president of finance for Chevron International Oil Co. in 1983, upstream comptroller for Chevron U.S.A. Inc. in 1988, and in 1990 he became vice president of finance for Chevron Overseas Petroleum Inc. (COPI), which included an important role in the formation of Tengizchevroil, Chevron's joint-venture in Kazakstan. Krattebol was named vice-president of finance for Chevron Products Co. in 1996, and vice president of logistics and trading for Chevron Products Co. in 1998.

Crowe was named corporate comptroller in 1996 and will now also be responsible for the corporate auditing department, the Chevron Finance Center, and system support activities. He is currently responsible for corporate-wide accounting, financial reporting, investment analysis and actuarial functions.

A San Francisco native, Crowe received a bachelor's degree in business and a master of business administration from the University of California at Berkeley. After joining Chevron in 1972 he progressed in assignments of increasing responsibility, becoming assistant comptroller of Chevron Corp. in 1990. In 1992, he was named Chevron Product Co.'s vice president of finance.

Updated: July 2000