Amoco Corp., hard hit by troubles afflicting the oil industry, said Tuesday it is strategically restructuring its organization and appointing several senior executives to new positions effective Wednesday.
”The appointments and restructuring will strategically position Amoco to take advantage of opportunities in a very competitive marketplace,” said H. Laurance Fuller, Amoco chairman and chief executive. ”It provides us with a management team that will lead us successfully in the months and years ahead.”
The company, which is in the midst of a cost-cutting effort that involves severance offers to several thousand employees, said earlier this month that it is likely to initiate some involuntary layoffs.
Amoco`s board of directors elected two executives to the newly created post of vice chairman: Lawrason D. Thomas, 58, who had been an executive vice president of Amoco Corp.; and Patrick J. Early, 59, who had been president of Amoco Production Co.
William G. Lowrie, 48, currently president of Amoco Oil Co., was named president of Amoco Production, replacing Early.
W. Douglas Ford, 48, executive vice president of Amoco Oil, was named president of Amoco Oil, replacing Lowrie.
R. Wayne Anderson, 50, vice president of human resources, and George S. Spindler, 54, vice president and general counsel, were named senior vice presidents of Amoco Corp. and given expanded duties.
The two vice chairmen will direct several key operating and staff groups. Reporting to Thomas will be Ford; James E. Fligg, president of Amoco Chemical Co.; Keith W. McHenry, senior vice president, technology; Charles A. Mast, vice president, supply; and Leonard V. Triggiani, president, Amoco Technology Co.
Reporting to Early will be Lowrie; Walter R. Quanstrom, vice president of environment, health, and safety; John R. Reid, vice president, information services; James A. Maish, general manager, international corporate
development; and James A. Unnerstall, executive director of Amoco`s crisis management program.
Thomas, Early, Anderson, and Spindler will report to Fuller. Frederick S. Addy, executive vice president and chief financial officer; Robert D. Cadieux, executive vice president, who has been assigned to review other business development opportunities; and E. David Newman, vice president of planning and economics, also will report to Fuller.
The difficulties affecting the oil industry prompted Standard & Poor`s Corp. Tuesday to predict this year`s results will be ”miserable.”
