Chevron reshuffles leadership as CEO transition looms

Chevron has announced a major leadership shuffle, effective January 1. Eimear Bonner, currently the company's Chief Financial Officer, will take over as president of its oil, products, and gas business. She is the first woman to hold the position. Jeff Gustavson, head of Chevron's new energies business, will replace Bonner as CFO.

The changes come as the company prepares for a potential transition at the top. CEO Mike Wirth, who has led Chevron for over eight years, recently indicated he may step down soon. Both Bonner and Gustavson are seen as potential successors, according to investors speaking to Reuters.

Mark Nelson, currently head of the oil, products, and gas business, will leave his role on January 1 but remain as vice chairman, focusing on strategy and business development. Bonner has gained prominence in recent months, frequently representing the company in public appearances.

Gustavson, meanwhile, has overseen Chevron's entry into powering data centers with natural gas. The company emphasized its robust succession planning process, with a deep bench of experienced executives ready to lead.