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Pioneer Expands Board of Directors
DALLAS--(BUSINESS WIRE)--April 4, 2002--Pioneer Natural Resources Company ("Pioneer") (NYSE:PXD) (TSE:PXD.) today announced that it plans to add three new members to its board of directors to replace one vacancy and to prepare for the mandatory retirement of two existing board members in May of 2003. The board currently consists of five outside directors and one inside director, Scott D. Sheffield, who is Chairman, President and Chief Executive Officer. Linda K. Lawson and Robert "Bob" A. Solberg have been appointed to the board effective May 14, 2002, and Edison "Ted" C. Buchanan has been nominated to stand for election at Pioneer's annual shareholder meeting to be held on May 14, 2002.
Ms. Lawson brings significant energy industry experience having had a 20-year career with The Williams Companies where she most recently served as Vice President of Human Resource Operations. Prior to that, she was Chief Operating Officer (COO) of a teleconferencing business acquired by Williams Communications, a business unit of The Williams Companies. She was also COO of three associated telecommunications businesses, Vice President of Investor Relations, Controller, Assistant Treasurer and Assistant Secretary of Williams Pipeline Company. Throughout her corporate career, Ms. Lawson has displayed her leadership capacities by serving on numerous boards, committees and task forces and has served the Tulsa community through a variety of non-profit organizations. She earned her Bachelor's degree in Accounting from the University of Denver and is a Certified Public Accountant. She resides in Denver, Colorado.
Mr. Solberg joins the board with an impressive background in oil and gas operations and management having spent 33 years with Texaco, Inc., most recently as Vice President. Prior to that, he was President of Upstream Commercial Development, President of International Exploration and Production and President of divisions in Texas, London and the Middle East. He earned his Bachelor's degree in Civil Engineering from the University of North Dakota and is a licensed Petroleum Engineer. Mr. Solberg resides in Houston, Texas, where he has a long history of community leadership and participation including several directorships in non-profit organizations.
Mr. Buchanan comes to Pioneer with extensive investment banking finance experience. He spent 20 years in the Investment Banking divisions of Credit Suisse First Boston, Morgan Stanley Dean Witter and Dean Witter Reynolds and served as Managing Director at each company. He currently serves as Corporate Advisor to The Trust for Public Land (TPL) where he works with corporations throughout the country on land use and conservation issues and helps to strengthen TPL's effectiveness within the business community. Mr. Buchanan earned his Bachelor's degree in Civil Engineering from Tulane University and his MBA in Finance and International Business from Columbia University. He resides in Santa Fe, New Mexico.
"We are honored that Linda, Bob and Ted have agreed to join our board of directors, and I am extremely pleased to be adding such highly-qualified outside board members," stated Scott Sheffield. "Their experience and knowledge will complement that of our existing board and will prove to be very valuable to Pioneer as we pursue oil and gas activities throughout the world."
Pioneer is a large independent oil and gas exploration and production company with operations in the United States, Canada, Argentina, South Africa, Gabon and Tunisia. Pioneer's headquarters are in Dallas. For more information, visit Pioneer's website at www.pioneernrc.com.
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