press release

Chevron Press Release - Chevron Appoints Presidents Of Two Operating Companies

SAN FRANCISCO, Jan. 16, 1998 - Chevron Corp. today announced the appointment of presidents of two operating companies. Gary M. Masada has been named president of Chevron Research and Technology Co., and Haywood A. (Hap) Payne is president of Chevron Real Estate Management Co.

Gary M. Masada

Gary M. Masada

Masada, 52, replaces Bruce Frolich, who retired from Chevron Research and Technology Co. in December after a 30-year career at Chevron. Masada was most recently manager of workforce planning and leadership development for Chevron Corp., and previously held technical and management positions at Chevron Research and Technology Co.

Masada started his career with Chevron in 1972 as a research chemist. He holds a Ph.D. in organic chemistry from the University of Washington and a bachelor's degree in chemistry from the University of California at Berkeley. Masada is a California native.

Chevron Research and Technology Co., based in Richmond, Calif., provides research and technology services for Chevron's refining and petrochemical businesses. The company also provides corporate-wide services, such as environmental technology and refining process control systems.

Haywood A. (Hap) Payne

Haywood A. (Hap) Payne

Payne, 51, replaces John Westmoreland, who left Chevron Real Estate Management Co. to lead Chevron Corp.'s Year 2000 computer conversion. Payne was most recently general manager of technology support and laboratory director for Chevron Petroleum Technology Co. in La Habra, Calif. He previously held technical and management positions at Chevron and Gulf Oil, which merged with Chevron in 1985.

Payne joined Gulf in 1970 as a systems analysis chemist. He holds an M.B.A. from the University of Pittsburgh and a bachelor's degree in chemistry from Randolph-Macon College in Virginia. Payne is a Virginia native.

Chevron Real Estate Management Co., based in San Francisco, manages Chevron's office buildings and property dispositions throughout the United States and in several international locations.

Photos available on request.

Updated: January 1998