ChevronTexaco names new executives of restructured downstream segment

ChevronTexaco Corp. announced a new management team to oversee the restructuring of its global refining and marketing organization, which is being changed from a geographical to a functional structure.

July 15, 2003

2 min read

By OGJ editors
HOUSTON, July 15 -- ChevronTexaco Corp. announced a new management team to oversee the restructuring of its global refining and marketing organization, which is being changed from a geographical to a functional structure.

Global Downstream Executive Vice-President Patricia A. Woertz said, "We have established as our goal the transformation of our global downstream into one that is competitive everywhere we do business. We are confident that a functional alignment will bring us greater efficiencies in this extremely competitive sector.

The new organization is expected to be fully operational by early 2004.

The company named Jeet S. Bindra global refining president; Michael K. Wirth global supply and trading president; S. Shariq Yosufzai, global marketing president; and Mark A. Nelson, global lubricants president.

In addition, David C. Reeves, currently ChevronTexaco's president of North America products, was named managing director and CEO of Caltex Australia Ltd., replacing Bindra, effective Aug. 11. Matthew J. Foehr, currently vice-president of finance for North America products, was named vice-president of finance, global downstream.

ChevronTexaco said four current executives will resign by early 2004. They are Jim R. Hawn, president of Europe-West Africa products; J. Carey McHugh, president of Latin America products; Jock D. McKenzie, president of Asia-Middle East-Africa products; and C. Michael Bandy, president of Global Trading, Fuel, and Marine Marketing.