Word: swearingen
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COUPLING yesterday's sense of thrift with today's management-by-computer techniques, John Eldred Swearingen, 45, has sharply raised earnings in the five years that he has been president of Standard Oil (Indiana). Last week he took pride in a 35% earnings jump to $140 million for the first nine months of 1963, and in winning a big oil concession in Egypt. One of the youngest men ever to head a major U.S. oil company, South Carolina-born Swearingen joined Standard as a chemical engineer at 20, rose through research and production to become president...
Ready to Wait. For Indiana's enterprisers, who are bidding for a choice zone around the capital city of Riyadh, Tariki hiked his opening demand to a 60-40 profit split, also "integrated1' right up to the gas pump. Indiana's President John Eldred Swearingen publicly rejected these terms last week, but was obviously ready to bargain further. Foreign oilmen pointed out that Tariki's deal with the Japanese promised at best small profit in limited markets, and only after years of waiting; Western companies alone, with their tanker fleets, refining facilities and extensive marketing systems...
...Frank Oscar Prior, 62, president since 1955 of Standard Oil Co. (Ind.), was named chairman of the board and chief executive officer to succeed Robert E. Wilson, who retired after 13 years as chairman. A Stanford graduate and onetime oilfield roughneck, Prior will be succeeded by John Eldred Swearingen Jr., 39, executive vice president since 1956. Swearingen, a South Carolinian, went to Standard in 1939 from Carnegie Tech, won a reputation as a top production man, became general manager of Standard's production in 1951, vice president in charge of production in 1954. Prior and Swearingen have worked together...
...SWEARINGEN...
...Swearingen said the conference was reported in a Tokyo news bulletin four days before the invasion...