press release

Texaco Press Release - Carl B. Davidson Completes Tenure as President of Texaco Foundation

Remains Vice President and Secretary of Texaco Inc.


WHITE PLAINS, N.Y., Feb. 11 - Carl B. Davidson has elected to retire as President of the Texaco Foundation. He will remain Vice President and Secretary of Texaco Inc.

"We are grateful to Carl for his years of dedication and significant contributions to the Foundation," said Dr. John Brademas, Chairman of the Texaco Foundation. "He has epitomized strong, effective leadership. Carl strengthened considerably the Foundation's emphasis on corporate citizenship and social responsibility, and was also instrumental in establishing the Foundation's International Program."

Since Davidson was elected President in 1990, the Texaco Foundation has awarded more than $90 million in support of specific projects to a variety of non-profit, tax-exempt organizations in the areas of education, health, social welfare, arts and culture, civic, public and environmental awareness.

The Foundation's International Program provides support for arts and culture, primary healthcare for children, the environment, micro enterprises and economic education. "As Texaco's operations have developed and grown globally, so too has the Foundation's commitment to 'improve the quality of life' in over 150 countries where Texaco has a presence," noted Brademas.

In the area of education, Davidson expanded support of programs to reach kindergarten through university level. The Texaco Foundation has committed millions of dollars aimed at critical points along the continuum of education. These programs include one-on-one reading instruction for first graders, fostering of improved instructional methods in math and science at the primary and secondary levels, and fellowships at premier research institutions.

Davidson is on the Board of Trustees of the Purchase College Foundation, and is a member and Past President of the Stockholder Relations Society of New York.

Updated: February 1998