Chevron Appoints John B. Hess to Board of Directors for Enhanced Strategic Leadership

Chevron Corp (CVX) has appointed John B. Hess to its Board of Directors, bringing decades of experience in the energy sector. Hess previously served as CEO of Hess Corporation and is expected to enhance Chevron's strategic leadership with his global experience and industry relationships. His appointment may positively influence Chevron's stock performance and position the company favorably in the competitive landscape.

Houston, TX - Chevron Corporation (NYSE: CVX), a leading player in the Oil, Gas & Consumable Fuels industry, has announced the appointment of John B. Hess to its Board of Directors. Hess, 71, previously served as CEO of Hess Corporation from 1995 to 2025 and as Chairman from 1995 to 2013. During his tenure at Hess, he led the company's transformation from an integrated oil company into a focused global independent exploration and production company [1].

Mike Wirth, Chevron’s Chairman and CEO, expressed excitement about Hess’s appointment. "John not only built a great company, he is a highly respected industry leader, and our Board will benefit from his global experience, relationships, and expertise," Wirth said. Hess, in turn, looks forward to working with Chevron's leadership team to meet global energy needs and create shareholder value [2].

Currently, Hess serves on the Board of Directors of Goldman Sachs and as a trustee at the Center for Strategic and International Studies. He previously held positions such as serving on the Secretary of Energy Advisory Board and as Chairman of the American Petroleum Institute [2].

Chevron, with a market capitalization of $320 billion, focuses on crude oil and natural gas production, manufacturing transportation fuels, and developing technologies for the energy industry. The company has maintained dividend payments for 55 consecutive years, currently offering a 4.38% yield, and generates annual revenue of $195 billion. InvestingPro analysis indicates the stock is currently trading near its Fair Value [1].

Chevron’s recent acquisition of Hess Corp. for $55 billion has been a significant development. Following the merger, Hess Midstream Operations LP received an upgrade from S&P Global Ratings to 'BBB-', with a stable outlook. Chevron also disclosed the elimination of 575 positions in Houston [1]. UBS has reiterated its Buy rating for Chevron, maintaining a price target of $177.00, reflecting optimism after the acquisition’s completion [1].

The appointment of John B. Hess to Chevron’s Board of Directors is seen as a strategic move that could positively influence the company’s stock performance and position it favorably in the competitive landscape. His extensive experience and industry relationships are expected to enhance Chevron’s strategic leadership and drive value for shareholders [3].

References:
[1] https://www.investing.com/news/company-news/former-hess-ceo-john-b-hess-joins-chevrons-board-of-directors-93CH-4157309
[2] https://www.theglobeandmail.com/investing/markets/stocks/CVX-N/pressreleases/33708899/john-b-hess-joins-chevrons-board-of-directors/
[3] https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46730519/exxon-chevron-could-be-wall-streets-best-kept-secrets-this-quarter