SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 30, 1998
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ATLANTIC RICHFIELD COMPANY
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-1196 23-0371610
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(Commission File Number) (IRS Employer
Identification No.)
515 South Flower Street, Los Angeles, California 90071
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (213) 486-3511
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
Press Release, dated September 30, 1998, announcing
the appointments of Mr. Michael E. Wiley to the position
of President and Chief Operating Officer and Mr. Donald R.
Voelte, Jr. to the position of Executive Vice President
effective October 1, 1998. Also announced today are the
retirements of ARCO's President Mr. William E. Wade, Jr.
and ARCO's Executive Vice President Anthony G. Fernandes.
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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.
ATLANTIC RICHFIELD COMPANY
/s/ BRUCE G. WHITMORE
________________________________
Bruce G. Whitmore
Senior Vice President, General
Counsel and Corporate Secretary
Dated: September 30, 1998
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ARCO [LOGO] Media Relations N E W S
515 South Flower Street
Los Angeles CA 90071-2201
Telephone 213 486 3385
Facsimile 213 486 0169
FOR IMMEDIATE RELEASE September 30, 1998
ARCO REALIGNS EXECUTIVE MANAGEMENT TEAM
LOS ANGELES (ARC: NYSE) -- ARCO Chairman and CEO Mike
Bowlin announced today a realignment of the company's
executive management team. "The changes will help improve
execution of the company's core strategies," said Bowlin,
"and focus our resources on areas and businesses where we
have or can attain a market leadership position."
Bowlin said that Michael E. Wiley, Executive Vice President,
will become President and assume the newly created position
of Chief Operating Officer. He will report to Bowlin.
Bowlin also announced that Donald R. Voelte, Senior Vice
President, Corporate Planning, will become Executive Vice
President, reporting to Wiley. Voelte will have
responsibility for Latin America, Europe, Africa, the Middle
East, Commonwealth of Independent States, and Permian Basin.
Both appointments are effective October 1.
J. Kenneth Thompson, Executive Vice President, continues in
his role, reporting to Wiley. Thompson has responsibility
for Alaska, the Asia Pacific, including China, Indonesia and
Southeast Asia, as well as natural gas marketing. ARCO
Products Company, led by Senior Vice President Roger E.
Truitt; Exploration, led by Vice President Dodd W. DeCamp;
and a newly formed Technology and Operations Services unit,
will also report to Wiley.
In separate announcements, Bowlin said that ARCO President
William E. Wade and Executive Vice President Anthony G.
Fernandes will both retire from the company.
In describing the changes, Bowlin said, "We continue to
prepare for the future and execute the realignment of ARCO
that began last year. The restructuring of our senior
management group represents the logical next step."
Bowlin said that Wiley brings considerable exploration and
production expertise to his new role. "Mike Wiley grew up
in the oil industry and knows this business inside and out.
His leadership will be invaluable as we move forward."
Bowlin said that over a 26-year career, Wiley has held a
number of key positions both domestically and
internationally, and has had leadership responsibilities in
engineering, planning, research and development, drilling
and production. Bowlin said that Wiley's leadership of the
initial public offering of Houston-based Vastar Resources,
Inc. (82.3 percent owned by ARCO) resulted in the creation
of a premier independent exploration and production company
and strengthened the company's position in the Gulf of
Mexico. He will continue as Chairman of the Board of
Vastar. Bowlin also cited Wiley's successful integration of
Union Texas Petroleum into ARCO, a move that has been
accomplished ahead of schedule and exceeded our projected
cost savings targets.
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Wiley holds a degree in petroleum engineering from the
University of Tulsa and an MBA from the University of
Dallas.
Commenting on Voelte's appointment, Bowlin said, "We
recruited Don less than two years ago with the challenge to
provide ARCO with new perspectives and planning initiatives.
He has delivered."
Bowlin said that Voelte brings more than 23 years of
exploration and production experience to his new role and a
strong background in international oil and gas operations.
Voelte came to ARCO in 1997 from Mobil Corporation where he
held a number of senior level exploration and production
assignments. He is a graduate of the University of Nebraska
with a B.S. in Civil Engineering.
Bowlin said that with Wiley's appointment, he has also
realigned his direct reports. Reporting to him will be
Wiley; Marie L. Knowles, Executive Vice President and Chief
Financial Officer; John H. Kelly, Senior Vice President,
Human Resources; and Bruce G. Whitmore, Senior Vice
President and General Counsel.
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For information, contact:
Lee Tashjian, ARCO Corporate Communications (213) 486-2364
Tom Goff, ARCO Media Relations (213) 486-3384
or e-mail to: [email protected]
