Chevron Executive Vice-President Pat Woertz to Retire
Michael K. (Mike) Wirth to succeed Woertz
SAN RAMON, Calif., Jan. 30, 2006 -- Chevron Corporation (NYSE: CVX) today announced that Patricia Woertz, executive vice president Downstream, has elected to retire. Effective March 1, 2006, Woertz will be succeeded by Mike Wirth, currently president of Global Supply and Trading.
Commenting on the announcements, Chevron Chairman and CEO Dave O'Reilly said, "As a senior officer of the Company, Pat has made significant contributions to Chevron's success. As Executive Vice President, Downstream, she led the organization through a successful restructuring following the merger with Texaco and has put the organization and strategy in place for future success. Pat's keen focus on safety and enthusiasm for the business will be greatly missed."
Woertz, 52, a native of Pittsburgh, Pennsylvania, graduated in 1974 with a bachelor's degree in accounting from Pennsylvania State University. She joined Ernst & Young as a certified public accountant. In October 1994, Woertz graduated from Columbia University's International Executive Development Program.
In 1977, she joined Gulf Oil Corp. in Pittsburgh and held positions in refining and marketing, strategic planning, and finance. In 1981, she transferred to Houston to head the upstream audit group. From 1985 to 1987, during the merger of Gulf and Chevron, Woertz worked on asset divestitures as part of the debt-reduction process. In 1989, she became finance manager with Chevron Information Technology Co. In 1991, she was named Chevron Corp.'s strategic planning manager.
Woertz was named president of Chevron Canada Ltd. in October 1993. Headquartered in Vancouver, British Columbia, CCL is a refining and marketing company and a wholly owned subsidiary of Chevron Corp.
In January 1996, Woertz was named president of Chevron International Oil Co. and a vice president of logistics and trading for Chevron Products Co. In this dual position, she was responsible for supply and distribution and worldwide trading.
She was elected a corporate officer and became President of Chevron Products Co. in November 1998. She assumed her current position in October 2001.
Woertz serves on the board of directors of the American Petroleum Institute, the board of trustees of the University of San Diego, as well as the board of visitors of Pennsylvania State University. In 2005, she was named a Distinguished Alumna by Pennsylvania State University.
Wirth, 45, a native of Golden, Colorado, joined Chevron in 1982 as a design engineer after earning a bachelor's degree in chemical engineering from the University of Colorado. He advanced through a number of engineering operations and planning positions in the U.S. downstream.
In 1998, Wirth was named senior retail manager of marketing for Western operations and then general manager of retail marketing in 1999. In that capacity, he was responsible for all aspects of the company's U.S. retail activities, including sales, brand management, advertising, pricing, credit card operations, e-business, real estate and construction.
In July 2000, Wirth was named president of marketing for Caltex Corp., based in Singapore. In that capacity, he was responsible for the company's system wide retail, wholesale and aviation fuels marketing businesses in Asia and Africa.
In October 2001, upon the formation of ChevronTexaco, Wirth was named president of marketing for ChevronTexaco's Asia/Middle East/Africa marketing business unit, based in the new company's refining and marketing business.
He assumed his current position in January of 2004. "Mike's strong background and knowledge of many aspects of our global downstream business make him well-suited to lead this important part of our organization forward," said O'Reilly.
Chevron Corporation is one of the world's leading energy companies. With more than 53,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.
Updated: January 2006