press release

Chevron Press Release - Jock Mckenzie Named Caltex Chairman And Chief Executive Officer

SAN FRANCISCO, July 1, 1999 -- Jock McKenzie has been named chairman and chief executive officer of Caltex Corp., it was announced today by Chevron Corp., and Texaco Inc., shareholders of the refining and marketing joint venture which operates in 60 countries.

McKenzie, whose appointment is effective July 1, replaces David J. Law-Smith, who elected early retirement following a distinguished 38-year career at Caltex.

McKenzie began his career in 1973 as a planning analyst with Caltex Oil (S.A.) Pty. Ltd (COSA). Following a series of positions of increasing responsibility in planning, operations and regional management, McKenzie was named corporate vice president with responsibilities for Caltex operating companies in Southeast Asia and New Zealand, including marketing in Singapore, Vietnam, and Cambodia. He was appointed senior vice president and elected a director in 1998.

McKenzie received a bachelor of science degree in chemical engineering from the University of Cape Town in 1969, and a master's degree from the School of Business and Organizational Studies, Lancaster University, United Kingdom, in 1972.

Caltex refines and markets petroleum and convenience products through 13 refineries and 8,500 retail service stations in more than 60 countries of the Asia Pacific region, Africa, and the Middle East. Revenues in 1998 were $16.3 billion. Total employment is approximately 8,000, including subsidiaries. Caltex was formed in 1936 as a 50/50 joint venture company between Standard Oil Company of California (now Chevron) and the Texas Company (now Texaco). It continues to be jointly owned by Chevron Corp. and Texaco Inc.

Updated: July 1999