Unocal board elects three new independent directors
El Segundo, Calif., Feb 10, 2004 - The board of directors of Unocal Corporation (NYSE: UCL) today elected three new directors to serve as independent members of the board.
Elected to the Unocal board were Craig Arnold, senior vice president and group executive for Eaton Corporation's Fluid Power business; Richard D. McCormick, former chairman of U S West, Inc., and the International Chamber of Commerce; and Mark A. Suwyn, chairman and chief executive officer of Louisiana Pacific Corporation.
"Craig, Dick and Mark are excellent additions to our board," said Charles R. Williamson, Unocal chairman and chief executive officer. "They each bring a depth of experience in the international business arena and a strong record of leadership in the changing global business environment."
Williamson noted that two current independent directors, John C. Amerman and Frank C. Herringer, will retire from the Unocal board at the company's annual meeting in May 2004. Amerman, former chairman and chief executive officer of Mattel, Inc., has been on the board for 13 years; Herringer, chairman of Transamerica Corporation, has served 15 years.
Craig Arnold, 43, is senior vice president and group executive for Eaton Corporation's Fluid Power business. He joined Eaton in 2000 and serves as a member of Eaton's Office of the Chief Operating Officer, including responsibility for the Asia-Pacific region.
Previously, he was a General Electric Company corporate vice president and president of GE Lighting Services, Ltd., in London. He served as corporate vice president and president for GE Plastics, Greater China, and for GE Appliances, Asia.
Arnold holds a bachelor's degree in psychology from California State University San Bernardino and a master of business administration degree from Pepperdine University.
Richard D. McCormick
Richard D. McCormick, 63, has recently completed a two-year term as chairman of the Paris-based International Chamber of Commerce (ICC). Under his leadership, the ICC successfully promoted liberalization of world trade and increased focus on sustainable development.
McCormick previously was chairman and chief executive officer of U S West, Inc., one of the seven regional Bell companies created upon the breakup of AT&T. He currently serves on the board of United Technologies, Wells Fargo and Co., and HealthTrio, Inc. McCormick continues to serve on the board of the ICC and the U.S. Council for International Business.
He holds an electrical engineering degree from Iowa State University.
Mark A. Suwyn
Mark A. Suwyn, 61, is chairman and chief executive officer of Louisiana Pacific Corporation, a supplier of commodity and specialty building products. During his tenure, he has led a strategic refocusing of the company that included a major program of asset sales, debt reduction, and an investment plan to improve the performance of LP's retained businesses.
Previously, Suwyn was an executive vice president with International Paper, Inc., and held a number of positions with E.I. Du Pont.
He earned his PhD in inorganic chemistry from Washington State University, and is a graduate of Hope College, where he received a bachelor's degree in chemistry.
Suwyn served as chairman of Junior Achievement International and on the board of Junior Achievement US for fifteen years. He is also a trustee of the Nature Conservancy of Oregon, co-chairman of the Oregon Watershed Enhancement Board and co-chairman of the Washington State University Foundation.
John W. Amerman
John W. Amerman, 71, has been an independent director for Unocal since 1991 and recently resigned from the board of Aegis Group Plc.
Frank C. Herringer
Frank C. Herringer, 60, has been an independent member of the Unocal board since 1989. He also serves on the board of Charles Schwab Corporation, AT&T Corp., and Mirapoint, Inc.
About Unocal Corporation
Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. The company's primary oil and gas activities are in North America and Asia.
Updated: February 2004