press release

Chevron Press Release - Chevrons Pittsburg & Midway Coal Company President Barry Mcgrath To Retire

ENGLEWOOD, Colo., June 29, 1999 -- Chevron today announced that Barry McGrath, president and chief executive officer of The Pittsburg & Midway Coal Co. (P&M), will retire effective August 1, after 27 years of service. P&M Vice President of Operations Steve Parker will succeed McGrath.

Last August, Chevron announced its intent to exit the coal business and sell P&M, and Parker will also assume management of this withdrawal.

"Barry is recognized as an industry leader in safety and environmental management and will be sorely missed," said Jim Sullivan, vice chairman of Chevron Corp. "This is a critical period for our coal business and I am confident Steve's leadership style and proven track record will ensure a quick and smooth transition."

Parker, 52, joined P&M in 1968 as a mine engineer at the McKinley Mine, near Gallup, N.M., after receiving a bachelor's degree in mining engineering from the South Dakota School of Mines & Technology. He is a native of Lodgepole, S.D.

Parker has held numerous positions with increasing responsibility in P&M, including general manager of the northwestern division and general manager of engineering. In 1987, Parker was appointed vice president of P&M marketing and he assumed the role of vice president of operations in 1990.

McGrath, 55, began his career as an attorney with Gulf Oil Corp. in 1972, in Tulsa, Okla., eventually moving to Kansas City, Mo., and Denver. In 1977, he was named manager of contract administration for P&M, then a Gulf subsidiary, and also served as manager of operations support and manager of corporate development. In 1981, McGrath was named vice president of marketing and became vice president of operations in 1987. Gulf was acquired by Chevron in 1984. In 1990, McGrath became president of P&M.

A native of Topeka, Kan., McGrath earned a bachelor's degree in political science from the University of Kansas in 1965 and a law degree from Washburn University in 1968. Prior to joining Gulf, McGrath served as assistant Attorney General for the State of Kansas and served in Vietnam as an Army officer.

With 1,250 employees, P&M owns and operates five coal mines in four states -- the McKinley and York Canyon surface mines in New Mexico, the open-pit Kemmerer Mine in Wyoming, the underground North River Mine in Alabama, and the Farco surface mine in Texas. P&M also holds a nearly 30 percent interest in Inter-America Coal Holding N.V. of Aruba, which owns a coal mine in Venezuela. P&M's principal customers are electric utilities and industrial concerns in Alabama, Arizona, Idaho, Texas, Wisconsin and Wyoming. In 1998, P&M sold 23.3 million tons of coal, ranking it among the top 12 coal-producing companies in the United States.

Updated: June 1999