press release

Texaco Press Release - Douglas E. Hoffmann Appointed Manager, Accounting and Reporting Policy

WHITE PLAINS, N.Y., April 11, 2000 - Douglas E. Hoffmann has been appointed Manager, Accounting and Reporting Policy, effective April 1, it was announced today by Deputy Comptroller Steven A. Carlson.

In making the announcement, Carlson said, "Doug's in-depth understanding of Texaco's business and his accounting expertise are a valuable asset to the Comptroller's Department. His input will be important as we continue to support the company's business initiatives."

In his new position, Hoffmann will be responsible for recommending appropriate accounting treatment for complex business transactions and establishing accounting and reporting policies. He will also interface with external accounting rule-making bodies and industry councils.

Hoffmann joined Texaco as an accountant in New York in 1967 after graduating from Hofstra University, Hempstead, N.Y. with a bachelor of business administration degree in accounting. In 1971 he received a master of business administration degree from the same university. After holding several positions of increasing responsibility in the Comptroller's Department, he was appointed Senior Coordinator, Accounting Research and Policies in 1993 and was appointed to his most recent position, Manager, Accounting Research and Policies, in 1998.

Updated: April 2000