Oil executive succumbs to pneumonia
BIRMINGHAM, Ala. -- Chicago banker and oil executive John E. Swearingen, who led Standard Oil Co. of Indiana to become the sixth-largest U.S. company, died at a Birmingham hospital. He was 89.
Swearingen died of pneumonia Friday at Brookwood Medical Center, according to his wife, Bonnie Bolding Swearingen. She said he also suffered from Alzheimer's disease. He was in Birmingham to visit relatives.
During his lengthy business career, Swearingen met with world leaders and socialized with U.S. presidents from Richard Nixon and Gerald Ford to Jimmy Carter.
He was at the helm of the American Petroleum Institute in the 1970s in the role of industry spokesman during the energy crisis.
A native of Columbia, S.C., Swearingen was awarded honorary degrees by 15 colleges and universities and served on the board of major banks and corporations, including Sara Lee Corp.
Swearingen graduated from the University of South Carolina and patterned his life on his father's admonition: "work hard, wash clean and always tell the truth."
After earning a master's degree in chemical engineering from Carnegie-Mellon University at 20, Swearingen began research work for Standard Oil.
He rose through the ranks, eventually becoming chairman. He retired from Standard Oil in 1983. During his 44-year tenure, the company's profits rose from $84 million to $1.8 billion, according to his 2004 memoir, Think Ahead.
After he left, he took over the troubled Continental Illinois Bank, where he served until 1989.
Meanwhile, Standard Oil became part of BPAmoco, which is now known as BP PLC.
Among his many professional and civic honors, Swearingen was decorated by the governments of Egypt, Italy and Iran for his global oil activities.
Besides his wife, Swearingen is survived by two daughters, seven grandchildren and four great-grandchildren.
Private services are planned in South Carolina.