Chevron to Change Some Organizational, Leadership Structures
May 26 2022 - 8:54AM
Dow Jones News
By Chris Wack
Chevron Corp. is simplifying its organizational structure and
making senior leadership changes, the company said Thursday.
The changes are intended to strengthen execution and pace to
deliver on objectives such as higher returns and reduced carbon,
the company said.
Starting Oct. 1, the company expects to consolidate its
Upstream, Midstream and Downstream business segments under a new
executive vice president of Oil, Products & Gas, who would
oversee the full value chain.
Nigel Hearne was named to lead Oil, Products & Gas.
As part of this change, Chevron plans to consolidate its two
Upstream regions into Americas Exploration & Production and
International Exploration & Production. Clay Neff was named
president of International Exploration & Production and Bruce
Niemeyer was named president of Americas Exploration &
Production.
The company also is organizing its Strategy &
Sustainability, Corporate Affairs and Business Development
functions under a new executive vice president of Strategy, Policy
& Development. The company named Mark Nelson to this position,
it said.
Chevron also named Balaji Krishnamurthy as vice president of
Strategy & Sustainability.
The changes build on the company's enterprise-wide
transformation in 2020, which it said has produced improved
operational and financial results. The new leadership structure is
expected to enable a more integrated approach to capital
allocation, asset class excellence and value chain optimization,
and use more effective external engagement and business development
impact.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 26, 2022 09:39 ET (13:39 GMT)
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