SAN FRANCISCO, Jan. 16 /PRNewswire/ -- Condoleezza Rice, a Chevron Corp. (NYSE: CHV) director since 1991, resigned from the company's board, effective Jan. 15. Rice was named President-elect George W. Bush's national security adviser-designate.

"Condi is extraordinarily capable," said Chairman Dave O'Reilly. "Her leadership skills and breadth of experience in government, academia and business have been a tremendous asset to Chevron and will serve her well in the new administration."

For the past two years Rice chaired the board's Public Policy Committee. SOURCE Chevron Corporation