Mike Wirth will remain Chevron’s chief executive officer as the US energy giant waived a mandatory retirement age of 65.
Chevron said in a statement on Sunday that its independent directors waived the company’s mandatory retirement age for its chairman and CEO, Wirth, who will turn 63 later this year.
Wirth has been chairman of the board and CEO of Chevron since 2018. He joined Chevron as a design engineer in 1982.
“Chevron’s board regularly reviews its long-term succession plans, and concluded it has the right leader and strategy in place to continue the company’s successful trajectory,” Wanda Austin, lead independent director for Chevron, said.
“Mike has done an extraordinary job leading Chevron in a dynamic environment and delivering outstanding financial and operational results. We look forward to his continued leadership,” Austin said.
CFO to retire
Besides this move, Chevron also announced several senior leadership changes.
Pierre Breber, vice president and chief financial officer, will retire from Chevron in 2024 after 35 years of service to the company.
Eimear Bonner, currently vice president and chief technology officer and president of the Chevron Technical Center, will succeed Breber as chief financial officer, effective March 1, 2024.
Bonner joined Chevron in 1998. Over her 24-year career with Chevron, she has held numerous leadership and operating positions.
Moreover, Balaji Krishnamurthy, currently vice president of strategy and sustainability, will become vice president of the Chevron Technical Center.
Molly Laegeler, currently vice president of Chevron’s San Joaquin Valley Business Unit, will become vice president of strategy and sustainability.
And Frank Mount, currently vice president of m&a and origination, will become vice president of business development.