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Red Cavaney Announces Retirement from the American Petroleum Institute

WASHINGTON, June 5, 2008 – Red Cavaney has announced his intent to retire and will step down November 1, 2008 as the President and Chief Executive Officer of the American Petroleum Institute (API). Jack Gerard, who is President of the American Chemistry Council (ACC), has been selected as his successor.

“After a decade of representing the interests of America’s oil and natural gas industry, I have informed the API Board of Directors of my decision to retire,” said Cavaney, who has served as API’s President and Chief Executive Officer since 1997. This transition is the result of a long-term succession plan that has been in place for years.

Cavaney, who is 65, has had a distinguished career in Washington. Prior to joining API, Cavaney served for three years as the President and Chief Executive Officer for the American Plastics Council. Cavaney’s other association leadership experience included a nearly 10 year stint as the President of the American Forest & Paper Association. Cavaney began his D.C. career having served on the senior White House staff of three U.S. Presidents, Richard Nixon, Gerald Ford, and Ronald Reagan.

“Our industry owes Red a great debt of gratitude,” said Rex Tillerson, Chairman and Chief Executive Officer of ExxonMobil and the current API board chairman. “Red is one of the true pillars of Washington and has served with distinction as the leader for the oil and natural gas industry. Red has shaped API into an exceptionally strong association with a talented and high caliber staff. The API Board extends its best wishes to Red in his retirement and new endeavors.”

“It is anticipated that the API Board, at its October meeting, will elect Jack Gerard as the President and Chief Executive Officer of the API,” said Tillerson. “Jack brings a stellar track record of experience in association leadership, public policy and strategic communications that are critical for advancing API’s mission.”

“It is never easy replacing a highly successful leader, but I would be honored to be chosen by the API to serve as its President and CEO,” said Gerard. “I look forward to working with the API on delivering its mission of affecting public policy in support of a strong, viable oil and natural gas industry. It is essential to meeting the energy needs of the United States, and I support the API’s goal of satisfying those demands in an environmentally responsible manner,” said Gerard.

Gerard will come from the American Chemistry Council (ACC), where he serves as the association’s President and CEO. The American Chemistry Council represents the leading companies in the business of chemistry, a $635 billion enterprise and key element of the nation’s economy. Gerard was responsible for setting the strategic direction of ACC and served as the organization’s primary representative when advocating public policy with Congress and the Administration.

Earlier in his career, Gerard was President and Chief Executive Officer of the National Mining Association (NMA). Prior to NMA, Gerard was a founding partner, Chairman and Chief Executive Officer of McClure, Gerard and Neuenschwander, Inc., a Washington, D.C.-based government relations consulting firm. He and founding partner, former U.S. Senator James McClure, focused on issues such as energy, mining, international sports and telecommunications. Gerard also spent a decade working in the U.S. Senate and House of Representatives.

The API is the industry’s national trade association representing all aspects of America’s oil and natural gas industry. Its nearly 400 corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry.

Updated: April 9, 2009

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