press release

Chevron Press Release - Chevron Chairman Receives International Achievement Award

Photo of Ken Derr

SAN FRANCISCO, Sept. 24 Chevron Chairman Ken Derr tonight accepted the International Achievement Award from the World Trade Club of San Francisco.

Derr received the prestigious award at a formal dinner for his outstanding contributions to the enhancement of world trade, for his leadership in guiding Chevron Corporation to world prominence, and for his commitment to establishing mutually beneficial partnerships with governments, companies and communities worldwide.

I am truly honored to receive this award, said Derr, addressing members of the audience, who included past recipients and international dignitaries.

In his acceptance speech, Derr spoke of the growing restrictions on American business in the area of foreign trade policies. Our governments unfortunate tendency to impose unilateral and secondary trade sanctions is putting American business at a severe disadvantage, he said.

I believe that engagement between countries works much better than sanctions or any other restrictive trade policies. I have personally witnessed what engagement has meant to the thousands of citizens of other countries who work in Chevrons operations, and their lives are better for us having been there, said Derr.

And I dont just mean paychecks or improved lifestyles, he said. Im talking about the intangible hard-to-measure benefits that come from the daily interactions between Chevron people in all the countries where we operate. These benefits may not be dramatic or bring instantaneous change, but they have a positive lasting effect nonetheless.

Derr went on to say that Chevrons excellent environmental record has helped the company land several important projects overseas, because we follow the same strict guidelines, for safety and environmental protection, everywhere in the world.

Derr also addressed the global economic crisis, noting that a just few days ago, he along with more than 100 other CEOs sent a letter to the President and all members of Congress urging them to address the mounting crisis. The letter listed four important actions that need to be taken to help stabilize the world economy and to demonstrate that the United States will not abdicate its leadership role:

  • Provide the full $18 billion of U.S. funding for the International Monetary Fund
  • Renew the Presidents fast track trade negotiating authority
  • Reform the use of unilateral trade sanctions
  • Strongly encourage the Federal Reserve to lower U.S. interest rates

By themselves, of course, these four actions wont bring the world back to complete economic health, but they will certainly get us started down the right road to global economic recovery, said Derr.

Among the international dignitaries attending the dinner event were the Consul Generals of the Russian Federation, the Peoples Republic of China, Great Britain, Germany, Korea and Switzerland; and the Deputy Consul General of Brazil and the Consul, Sr. Trade Commissioner of Canada.

Mr. Derrs remarks at the International Achievement Award Dinner at the World Trade Club on Sept. 24.

Updated: September 1998