FOR IMMEDIATE RELEASE Contact: Guy T. Marcus
July 25, 2000 Vice President-Investor Relations
(214) 978-2691
Dirk Vande Beek
Media Relations
(713) 676-8097
LESAR TO SUCCEED CHENEY AS HALLIBURTON CHAIRMAN AND CEO
DALLAS, Texas -- Halliburton Company's (NYSE:HAL) chairman of the board
and chief executive officer, Dick Cheney, announced today that he has accepted
the invitation of George W. Bush to be Bush's Republican Party vice presidential
running mate.
At a special meeting of Halliburton's board of directors today the
board accepted Cheney's resignation as chairman of the board and chief executive
officer of the company effective at the close of business on August 16, 2000.
The Halliburton board then elected David J. Lesar, 47, to the board of directors
and named him the company's chairman of the board, president and chief executive
officer, also effective at the close of business on August 16.
Lesar, currently the company's president and chief operating officer,
joined Halliburton in 1993 as executive vice president and chief financial
officer of the Halliburton Energy Services business unit. Subsequently, he
served the company in a variety of senior management positions including
executive vice president and chief financial officer of Halliburton Company and
president and chief executive officer of Brown & Root, Inc.
Dick Cheney, who joined Halliburton in 1995, said, "I have greatly
enjoyed working with the worldwide family of Halliburton employees and customers
during my
-more-
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employment with Halliburton. Having worked closely with Dave Lesar and the
Halliburton management team over the past five years, I have great confidence
for the future success of Halliburton."
Dave Lesar commented, "Halliburton has immensely benefited from Dick
Cheney's leadership and the worldwide respect he commands. Together we have
established corporate strategies that will remain in place and continue to lead
Halliburton in the future."
Halliburton Company, founded in 1919, is the world's largest provider
of products and services to the petroleum and energy industries. The company
serves its customers with a broad range of products and services through its
Energy Services Group and Engineering and Construction Group business segments.
The company's World Wide Web site can be accessed at http://www.halliburton.com.
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