Chevron Announces Leadership Changes Ahead of CEO Transition

Chevron has announced a major leadership reshuffle, effective January 1. Eimear Bonner, the current Chief Financial Officer, will take over as president of the company’s oil, products, and gas business. Jeff Gustavson, who currently heads Chevron’s new energies business, will replace Bonner as CFO.

The changes come as Chevron prepares for a transition at the top. CEO Mike Wirth, who has led the company for over eight years, is in discussions with the board about succession planning. Both Bonner and Gustavson are seen as potential candidates to succeed Wirth.

Mark Nelson, the current head of the oil, products, and gas business, will step down from his role on January 1 but will remain as vice chairman, focusing on strategy and business development.

Bonner has been a prominent representative of Chevron in recent months, frequently appearing on TV and at conferences. Prior to her role as CFO, she served as the company’s first female chief technology officer and led Chevron’s joint venture in Kazakhstan.

Gustavson has been instrumental in Chevron’s initial steps into powering data centers with natural gas, a key area of growth for the company’s new energies division.