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Dynegy Board Adds Former Texaco Exec

August 7, 2002

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HOUSTON (AP) _ Dynegy Inc. added a former Texaco Inc. executive to its board and audit committee.

The Houston-based energy marketer said Wednesday that Robert C. Oelkers, a former senior executive in charge of auditing and accounting functions and major business units at Texaco, was elected to the board.

In the late 1990s, Oelkers was Texaco’s president and controller. Just prior to Texaco’s merger with Chevron Corp., which was finalized last October, Oelkers headed the company’s worldwide supply and trading unit, Texaco International Trader.

Dynegy is among several energy merchants under investigation by the Securities and Exchange Commission for accounting and trading practices.

Oelkers replaced telecommunications consultant Patricia Eckert, who recently resigned. His addition brings Dynegy’s board membership to 12. Of those, three represent ChevronTexaco Corp., which owns 26.5 percent of Dynegy.

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