Arco President to Retire
LOS ANGELES (AP) _ Robert E. Wycoff will step down as Atlantic Richfield Co.’s president and chief operating officer in a management change that includes the retirement of three top vice presidents, the company said Monday.
Wycoff, 63, will be replaced on June 1 by Mike R. Bowlin, now executive vice president of the oil company.
The changes are part of a management succession strategy developed in recent years, said Lodwrick M. Cook, Arco’s chairman and chief executive officer. Cook is scheduled to retire in 1995.
Wycoff joined Arco in 1953 and was named to his current posts in 1985. He will assume the title of president emeritus and remain chairman of Lyondell Petrochemical Co., in which Arco is the major shareholder.
Bowlin, 50, began work with Arco in 1969 following graduation from North Texas State University with bachelor and master of arts degrees in business administration. He served as president of Arco Coal Co. and Arco International Oil and Gas Co. before becoming executive vice president and a member of the board of directors in 1992.
William E. Wade Jr., 50, a senior vice president, will replace Bowlin as executive vice president.
Also retiring effective June 1 are James S. Morrison, executive vice president, Vice President Donald A. Murray and Senior Vice President George H. Babikian, who also is president of Arco Products Co.
Babikian will be succeeded by William C. Rusnack, 48, a senior vice president and president of Arco Transportation Co.
Arco spokesman Albert Greenstein said the retirements will give Cook time to work with the company’s new management before his retirement in two years.
″You’re looking obviously at a management succession. It was inevitable the transition was to occur. There was no question of that. It was just a matter of timing whether now or several months later,″ Greenstein said. ″These changes were all in the works.″