TotalFinaElf Announces Management Changes

Bernard de Combret, Vice Chairman of the TotalFinaElf Executive Committee and President, Trading/Gas & Power will leave the company at the end of the year.

Thierry Desmarest, Chairman and CEO of TotalFinaElf, on behalf of the Group, expressed his thanks to Mr. de Combret for the outstanding contribution he made during the 22 years of service to Elf Aquitaine, in the International Trading and Refining & Marketing businesses as well as for his assistance in strengthening the Gas & Power business and in building the new Group over the past two years.

The Group's organization will be changed effective January 1, 2002:

  • A new Upstream Division will be established, combining the Exploration-Production and Gas & Power Divisions.
  • Jean-Luc Vermeulen, TotalFinaElf Executive Vice President, will be President of Upstream.
  • Christophe de Margerie, TotalFinaElf Executive Vice President, will be President of Exploration & Production.
  • Jean Privey will be President of Gas & Power.
  • Trading & Shipping will report to Robert Castaigne, TotalFinaElf ExecutiveVice President and Chief Financial Officer.
  • Francois Groh will be President of Trading & Shipping.
  • The Audit and Corporate Purchasing Divisions, which previously reported to the Finance Division, will now report to Bruno Weymuller, TotalFinaElf Executive Vice President and President, Strategy & Risk Assessment.

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