Elf Aquitaine shareholders approved the nomination of two non-French directors, Messrs. Jürgen Sarrazin and Robert Studer to the Board of Directors.
Jürgen Sarrazin, 62, born in Freiberg, Germany, is the former Chairman of the Board of Managing Directors of the Dresdner Bank in Frankfurt. He is also a member of the supervisory boards of such well-known German companies such as Daimler Benz, Krupp, Henkel and Hoechst and a member of the Board of Directors of the French bank, Banque Nationale de Paris.
Mr. Sarrazin studied law and history in Germany and the United States and holds a law degree from Heidelberg University. He joined the Dresdner Bank in 1960, was named senior general manager in 1975 and a member of the Board of Managing Directors in 1983, he held the position of Chairman until December 31, 1997.
Robert Studer, 59, born in Lucerne, Switzerland, is presently Chairman of the Board of Directors of Union Bank of Switzerland (UBS) in Zurich. He is also a member of the Board of Directors of Nestlé, BASF and Schindler. He has a diploma in business administration from the Zurich Management Institute.
Mr. Studer joined UBS in 1957, where he has held various positions such as representative in Beirut and New York, head of the foreign exchange department, head of the financial division and member of the Executive Board. From 1988 to 1996, Mr Studer was President of the Executive Board. Since 1996, he has been Chairman of the UBS Board of Directors.
In additon, the shareholders ratified the nomination of and approved the reelection of Messrs. Xavier Dupont and Mr. Frédéric Isoard. as members of the Elf Aquitaine Board of Directors.
Mr. Xavier Dupont, 65, former Chairman of the Société des Bourses Françaises, is Vice-Chairman of the Supervisory Committee of Paluel Marmont Banque. He was coopted by the Board of Directors on December 17, 1997, replacing Mr. Bernard Mirat who had reached the statutory age limit.
Mr. Frédéric Isoard, 65, the former Executive Vice President of the Elf Aquitaine Oil and Gas Division was coopted by the Board of Directors on April 1, 1998. He replaces Mr. Gilbert Rutman, who also had reached the statutory age limit.
The shareholders also renewed Mr. Philippe Jaffré's term as a Director for a period of six years.
Following the Annual Shareholder's Meeting, the Board of Directors reelected Mr. Jaffré Chairman of the Board of Directors of Elf Aquitaine.
Thomas Saunders (33.1) 47.44.42.30
Catherine Durand (33.1) 47.44.37.76
