press release

Chevron Press Release - Chevron Updates Stockholder Annual Meeting Voting Results

SAN FRANCISCO, May 4, 1999 -- Chevron Corp. today released final results from its annual stockholder meeting held April 28 in San Ramon, Calif.

The final stockholder voting demonstrated strong support for Chevron management in all recommendations:

  • An average of 95.8 percent of the total votes cast were for the 13 management nominees to the Board of Directors. An average of 4.2 percent voted against.
  • A stockholder proposal to adopt a toxic chemicals information policy related to company facilities was defeated by 93.4 percent (376,639,206) of the votes cast. About 6.6 percent (26,461,991) voted in favor of the proposal.
  • A stockholder proposal to report on greenhouse gas emissions from company operations was defeated by 92.6 percent (373,447,690) of the votes cast. About 7.4 percent (29,847,863) voted to support the proposal.
  • A stockholder proposal to cancel any future plans for drilling in the coastal plain of the Arctic National Wildlife Refuge was defeated by more than 96 percent (386,098,468) of the votes cast. Nearly 4 percent (15,988,163) voted in favor of the proposal.
  • More than 99.5 percent of the votes cast approved the appointment of PricewaterhouseCoopers LLP as independent public accountants.

A total of 508,147,512 shares was voted out of 653,316,894 outstanding shares of common stock eligible to vote.

Results include votes "for" and "against" and do not include abstention votes. The voting results were tabulated independently by ChaseMellon Shareholder Services L.L.C.

Updated: May 1999