Chevron Promotes CFO and New Energies Head in Leadership Shuffle

Chevron is making significant leadership changes, effective January 1. Eimear Bonner, the current chief financial officer, will take over as president of Chevron’s oil, products, and gas business. Jeff Gustavson, who currently leads Chevron’s new energies business, will replace Bonner as CFO. These shifts come as the company prepares for a potential change in its top executive role, with CEO Mike Wirth nearing the end of his tenure after more than eight years in the position.

The executive reshuffle highlights the company’s robust succession planning process. Both Bonner and Gustavson are viewed by investors as potential candidates to succeed Wirth. Mark Metz, a senior investment analyst at American Century Investments, noted that the new roles bring them one step closer to being potential successors. Bonner has been increasingly visible in representing the company in media appearances, while Gustavson has overseen Chevron’s venture into powering data centers with natural gas.

Additionally, 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 to oversee strategy and business development. A company spokesperson emphasized Chevron’s strong leadership bench, ensuring a smooth transition as the company navigates its next phase of leadership.