Texaco Press Release - Charles R. Shoemate Elected to Texaco Inc. Board of Directors
FOR IMMEDIATE RELEASE: MONDAY, OCTOBER 26, 1998.
WHITE PLAINS, N.Y., Oct. 26 - Texaco Inc. announced today that Charles R. Shoemate, Chairman, President and Chief Executive Officer of Bestfoods, has been elected to the company's Board of Directors. His election brings the number of directors on the Texaco board to 14.
Texaco Chairman and Chief Executive Officer Peter I. Bijur commented, "Dick Shoemate is a knowledgeable, respected business leader. As Chairman of a global consumer foods company, he understands the challenge of competing in the worldwide marketplace. We are pleased he has agreed to bring his experience and innovative thinking to our board."
Shoemate, 58, was elected Chief Executive Officer of Bestfoods in August 1990 and was elected Chairman the following month. He joined the company in 1962 and progressed through a variety of positions in manufacturing, finance and business management within the consumer foods and corn refining businesses. Shoemate was elected Vice President of the corporation in 1983 and, in 1986, became President of the Corn Refining Division. He was elected to the Board of Directors at the same time he was named President of Bestfoods in 1988.
Born in Illinois, Shoemate was graduated from Western Illinois University with a bachelor of science degree in 1962. In 1973, he received an MBA in marketing and finance from the University of Chicago.
Shoemate is a director of Cigna Corporation, International Paper Company and is Chairman of The Conference Board. He is a member of the Business Roundtable and the Committee for Economic Development.
Updated: October 1998