Smeal College Graduate Named To Fortune’s List Of Most Powerful Women For Fifth Consecutive Year
Smeal College Graduate Named To Fortune’s List Of Most Powerful Women For Fifth Consecutive Year
UNIVERSITY PARK, PA -- For the fifth straight year, ChevronTexaco's Patricia Woertz, a 1974 graduate of Penn State's Smeal College of Business, has been named to Fortune magazine's annual list of the "Most Powerful Women in American Business." Woertz, executive vice president of ChevronTexaco's Downstream business, appears at No. 9 in the October 13 report.
Fortune notes that Woertz's cost cutting has helped first-half earnings grow by more than 200 percent to $3.5 billion.
To arrive at its list, Fortune consults with analysts, industry experts and executive headhunters, as well as the candidates, their bosses, and their peers. Final standing is based on four criteria: the size and importance of the woman’s business in the global economy, her clout inside her company, the arc of her career, and her influence on mass culture and society.
The highest-ranking woman in the global energy industry on the Fortune list, Woertz assumed her current position in 2001 when Chevron and Texaco merged. She is responsible for the company’s worldwide refining, marketing, and transportation business, and oversees more than 20 refineries, 25,000 service stations, and more than 26,000 employees working in 180 countries.
The Penn State Alumni Association named Woertz, who holds a bachelor’s degree in accounting from Smeal, an Alumni Fellow in 2002. She has remained active in the college and University, and presented Smeal’s annual Arlene Shapiro Kaplan Lecture in 2002. Woertz will be the Fall 2003 Commencement Speaker for The Pennsylvania State University.
Woertz currently serves on the board of directors in the American Petroleum Institute and the California Chamber of Commerce.
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REPORTERS & EDITORS: For more information, please contact Wyatt DuBois in the Smeal College of Business Media Relations Office at 814-863-3798 or wed112@psu.edu.
Penn State's Smeal College of Business offers highly ranked undergraduate, MBA, executive MBA, Ph.D., and executive education opportunities to more than 5,500 students at all levels. Featuring academic departments of accounting, finance, marketing, insurance and real estate, management, and supply chain and information systems, the college is also home to major research centers such as the Center for Supply Chain Research, the Institute for the Study of Business Markets, the Center for Digital Transformation, the Farrell Center for Corporate Innovation and Entrepreneurship, the Center for Global Business Studies, and the Center for the Management of Technological and Organizational Change.
