press release

Texaco Press Release - Thomas P. Dougherty, Jr. Named General Manager - Risk Management Department


WHITE PLAINS, N.Y., June 10 - Thomas P. Dougherty, Jr. has been appointed General Manager of Texaco's Risk Management Department and President and CEO of Heddington Insurance Limited effective July 1, 1999, it was announced today by Patrick J. Lynch, Texaco Inc. Senior Vice President and Chief Financial Officer. Heddington, a wholly owned subsidiary of Texaco, provides property and casualty insurance to Texaco's subsidiaries and affiliates worldwide.

Dougherty succeeds Jennifer B. Cartmell, who has elected early retirement. He currently serves as Assistant General Manager of Heddington.

In making the announcement, Lynch stated, "Tom Dougherty's fiscal expertise and comprehensive knowledge of the company's assets and operations will be of great value as he leads the Risk Management team."

Dougherty was graduated from St. Bonaventure University in Olean, N.Y., with a bachelor of arts degree in literature in 1969. He earned juris doctor and master of law and taxation degrees in 1972 and 1973, respectively, from the Marshall-Wythe School of Law at the College of William and Mary in Virginia.

After serving as a trial attorney with the Internal Revenue Service, Dougherty joined Texaco in 1980 as a tax attorney at the company's worldwide headquarter offices in Harrison, N.Y. He was appointed Senior Tax Attorney in 1985, and in 1990 was named General Tax Attorney. Dougherty joined the Comptroller's Department in 1995 as Fiscal Director and Comptroller of Texaco U.S.A. (TUSA), in Houston, where he had accounting responsibility for the company's U.S. upstream, mid-stream and downstream operations. In 1996, he assumed supervisory responsibility over the company's Credit Card Services unit and, in 1997, was appointed Associate Comptroller of Texaco Inc., with responsibilities in global businesses. Dougherty was named to current assignment in 1998.

Dougherty is a member of the board of trustees of the Houston Ballet and the board of directors of the YMCA of the Greater Houston Area. He will continue to be located in Houston.

Updated: June 1999