UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
October 12, 1999
USX Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-5153 25-0996816
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
600 Grant Street, Pittsburgh, PA 15219-4776
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(Address of principal executive offices) (Zip Code)
(412) 433-1121
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(Registrant's telephone number,
including area code)
<PAGE> 2
Item 5. Other Events
On October 12, 1999, USX Corporation announced that Victor G. Beghini, president
of Marathon Oil Company, will retire October 31. Mr. Beghini's successor has
been selected by the USX Board of Directors and will be announced by year's end.
In the interim, Thomas J. Usher, Chairman and chief executive officer of USX,
will direct the Marathon Group's activities in addition to his other duties. A
copy of the press release announcing Mr. Beghini's retirement is attached.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1. USX Press Release
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
USX CORPORATION
By /s/ Kenneth L. Matheny
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Kenneth L. Matheny
Vice President and Comptroller
Dated: October 13, 1999
-3-
Contact: William E. Keslar
Don H. Herring
(412) 433-6870
FOR IMMEDIATE RELEASE
PITTSBURGH, Oct. 12 - Victor G. Beghini, president of Marathon Oil
Company, will retire October 31, it was announced by Thomas J. Usher, chairman
and chief executive officer of USX.
Beghini's successor has been selected by the USX board of directors
and will be announced by year's end. In the interim, Usher will direct the
Marathon Group's activities in addition to his other duties.
"Vic Beghini is one of the giants of the oil industry, and has led
Marathon for over a decade with distinction and outstanding accomplishment,"
said Usher.
"Under Vic's guidance, Marathon has gone through a period of
unprecedented growth, and has maintained its stature as one of the premier oil
companies in the United States," Usher continued. "The creation of Marathon
Ashland Petroleum LLC, the acquisition of our oil and gas operations in Canada,
and the development of the gigantic multinational exploration and production
project in the Russian Far East all are testaments to Vic's inspired
leadership."
Beghini was born in Greensboro, Pennsylvania, in 1934, and was
graduated from Pennsylvania State University in 1956 with a bachelor of science
degree in petroleum engineering.
He joined Marathon Oil Company in 1956 and worked throughout Michigan,
Illinois, Indiana, Louisiana, and California. He was appointed Casper, Wyoming,
division reservoir engineer in 1971, and was division petroleum engineer prior
to being named manager of Marathon's corporate risk division in 1973. He was
appointed manager of purchasing in 1975 and was appointed manager of the Cody,
Wyoming, operations district later that year. In 1977 he was named coordinating
manager, production operations, United States and Canada.
-more-
In 1978, he was named vice president, supply & transportation.
Beghini was elected president of Marathon Petroleum in 1984. He assumed
responsibilities as senior vice president, domestic exploration and production,
for Marathon Oil in Houston in 1985. In 1986, he was named senior vice
president, worldwide production, Marathon Oil Company.
Beghini was elected president of Marathon Oil in 1987. At the same
time, he was elected to the USX Corporation corporate policy committee. He has
been a member of the board of directors of Marathon Oil Company since 1978 and
served on the boards of directors of Marathon Petroleum Company from 1982 to
1985, and Texas Oil & Gas Corp. from 1987 to 1991.
Beghini was named vice chairman-energy for USX Corporation and was
elected to the USX board of directors in 1990. The next year, Beghini was named
vice chairman-Marathon Group of USX Corporation and continued as president of
Marathon Oil Company. He was on the board of trustees of the USX Foundation.
Beghini is a member of the National Petroleum Council, the All-
American Wildcatters, the 25 Year Club of the Petroleum Industry, the Society of
Petroleum Engineers, and is a registered professional engineer in the state of
Louisiana. Beghini serves on the board of directors of Pitt-Des Moines, Inc.,
Baker Hughes, Inc., the American Petroleum Institute, the Sam Houston Area
Council of the Boy Scouts of America, and the Greater Houston Partnership. He
is a past chairman of the Natural Gas Supply Association, the board of directors
of Spindletop Charities, Inc., and the board of directors of the Sam Houston
Area Council of the Boy Scouts of America.
He was recognized as a Distinguished Alumnus of the Pennsylvania State
University in 1985. He participated in the Harvard University program for
management development in 1974. In 1988, Beghini received an honorary Doctor of
Laws degree from Marietta College. In 1989, he received an honorary Doctor of
Engineering degree from Rose-Hulman Institute of Technology, and in 1993, was
recognized by the University of Findlay with an honorary doctorate of Natural
Resources Management.
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1999-10-12
