Chevron names new CEO

John S. Watson is stepping down from Chevron after 37 years. His replacement has been with the US oil major for 35 years.

US oil major Chevron is reshuffling the chief executive position next February, announces the company.

The CEO and President of the past eight years, John S. Watson, is stepping down after 37 years with the company and will be replaced by the current Vice Chairman of the Board and Executive Vice President of Midstream and Development, 54-year-old Michael K. Wirth.

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