press release

Chevron Press Release - Chevron Names John Watson To Head New Mergers And Acquisitions Group

SAN FRANCISCO, Jan. 30, 1998 -- Chevron Corp. today announced creation of a corporate mergers and acquisitions group and named John S. Watson as general manager.

Photo of John S. Watson

John S. Watson

Watson, 41, is currently president of Chevron Canada Limited, based in Vancouver, B.C. Named to replace him was Pat Yarrington, 41, comptroller of Chevron Products Co. Both appointments will take effect March 1.

"Our new group will look strategically at acquisitions ranging from small to large, especially in the exploration and production area," said Chevron Chairman Ken Derr. "Weve achieved the right focus in our portfolio of core businesses, and now we want to expand it more actively, consistent with the growth strategies we established a few years ago.

"Johns financial experience, coupled with his operating company perspective, will help him integrate our mergers and acquisitions activities into our corporate-wide planning process," Derr added.

Watson joined Chevron in 1980 as a financial analyst and moved through a variety of financial and analytical positions of increasing responsibility. He became manager of investor relations for the corporation in 1990, and in 1993 was named manager of credit card enterprises for Chevron U.S.A. Products Co.

In 1995, he became general manager of strategic planning & quality for Chevron U.S.A. Products Co., and was named president of Chevron Canada Limited in January 1996.

Photo of Pat Yarrington

Pat Yarrington

Yarrington joined Chevron in 1980 and worked in a number of finance positions of increasing responsibility. In 1986, she was named manager of investor relations for the corporation. She also served in managerial positions for Chevron Products Co., Chevron Research Technology Co. and the corporation before becoming manager of credit card enterprises in 1995. She has been in her current position since last June.

Updated: January 1998