Pennzoil Chairman, Four Other Directors To Retire
HOUSTON (AP) _ The chairman of Pennzoil Co. said Tuesday he and four other directors will retire from the firm’s board next month.
Chairman J. Hugh Liedtke, 72, is retiring after 27 years as chairman. He retired as Pennzoil’s chief executive officer and president in 1988. Robert Harper, a Pennzoil spokesman, declined to mention any contenders to fill Liedtke’s post.
Liedtke said in a statement that he and board members Douglas J. Bourne, Allen H. Carruth, C.W. Flint Jr. and Baine P. Kerr will retire at the company’s annual shareholders meeting on May 19.
″At the present time, we are each pushing 70 at various distances from its far side,″ he said.
James L. Pate is the current Pennzoil president and CEO, titles held since March 1990.