press release

Texaco Press Release - President and CEO of Equilon Enterprises LLC, Jim Morgan, Elects to Retire


HOUSTON, March 6 - Jim Morgan, President and Chief Executive Officer of Equilon Enterprises LLC has elected to retire, effective April 1. The announcement was made today by Equilon Chairman of the Board and Shell Oil Company Chairman, President and CEO Steve Miller.

Commenting on behalf of the Equilon shareholders, Shell Oil Company and Texaco Inc., Miller said, "Jim Morgan has steered Equilon through its formative years, leading a company that today can boast a healthy asset portfolio and a commanding presence in the mid-western and western U.S. downstream markets. His leadership was central to Equilon surpassing its synergy targets ahead of schedule and he established a resilient company that is ready to tackle the challenges currently facing the industry."

Morgan joined Shell Oil Company in Cleveland, OH in 1969 as a sales trainee after graduating from Pennsylvania State University with a bachelor degree in chemical engineering, and later completed a master of business administration degree at Case Western Reserve. He held a number of business positions of increasing responsibility in the U.S. until he was transferred to Shell International Petroleum Company in London in 1981.

He returned to the U.S. in 1983 and held various managerial positions, including General Manager of Product Economics and General Manager of the Eastern Region of Refining and Marketing. In 1989 he went back to London, where he became Supply Marketing Coordinator for Shell International Petroleum Company. He returned to Houston in 1992 when he was named Vice President of Refining and Marketing for Shell Oil. He became President and CEO of Shell Oil Products Company in 1993 and was named to his current position in 1998 following the formation of Equilon.

Headquartered in Houston, Equilon Enterprises LLC is a U.S. joint venture between Texaco and Shell Oil Company. Equilon refines and markets Shell- and Texaco-branded products in 32 western and midwestern states and includes Shell's and Texaco's nationwide transportation and lubricants businesses.

Updated: March 2000