No Major Strategic Changes Likely if Chevron CEO Watson Departs; Exemplary Stewardship Rating Intact
John Watson’s run as Chevron's CEO appears to be nearing an end, with news reports indicating he will step down next month. There are three likely successors--Michael Wirth (vice chairman and executive vice president, midstream and development), Pierre Breber (executive vice president, downstream and chemicals), and James Johnson (executive vice president, upstream)--with Wirth reported as the most likely to take the post. We think this is reasonable, given his success running the downstream ope...Chevron is engaged in energy and chemicals operations. Upstream operations consist primarily of, among others, exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas, storage and marketing of natural gas; and a gas-to-liquids plant. Downstream operations consist primarily of, among others, refining crude oil into petroleum products; marketing of crude oil and refined products; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
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