Hess Midstream LP Announces Board Changes, Leadership Transition Following Chevron Merger.

Hess Midstream LP has announced changes to its Board of Directors and leadership following the merger between Hess Corporation and Chevron Corporation. The general partner has appointed new members to the Board and new executive officers. Chevron owns approximately 37.8% of Hess Midstream on a consolidated basis. The independent directors remain unchanged, and Chevron leadership has been appointed to the Hess Midstream Board.

HOUSTON, July 2, 2025—Hess Midstream LP (NYSE: HESM) has announced significant changes to its Board of Directors and executive leadership following the completion of the merger between Hess Corporation and Chevron Corporation. The general partner has appointed new members to the Board and new executive officers, reflecting the new ownership structure and strategic direction of the company.

The merger, which was completed recently, has resulted in Chevron owning approximately 37.8% of Hess Midstream on a consolidated basis. As part of the changes, John B. Hess, Chairman and Chief Executive Officer, Gregory P. Hill, President and Chief Operating Officer of Hess Corporation, and John P. Rielly, Executive Vice President and Chief Financial Officer of Hess Corporation, have left the Hess Midstream Board. Andy Walz, President, Chevron Downstream, Midstream & Chemicals, has joined the Board and will serve as Chairman. Joining Walz are Kristen Ghattas and Kristi McCarthy from Chevron. Gerbert Schoonman will remain on the Board.

The three independent directors—Stephen J.J. Letwin, David W. Niemiec, and John P. Reddy—will continue to serve on the Board and will continue to serve on the Audit Committee. Hess Midstream expects to appoint a fourth independent Board member in the future.

Executive officer appointments have also been made. Jonathan C. Stein, currently the Chief Financial Officer of Hess Midstream, has been named Chief Executive Officer, succeeding John B. Hess. Michael J. Chadwick has been appointed Chief Financial Officer, succeeding Mr. Stein. Chadwick has held increasingly senior financial roles since joining Hess in 2000, most recently serving as Vice President and Controller since 2022.

"These changes reflect the strategic partnership between Hess and Chevron and our commitment to driving shareholder value," said Andy Walz, Chairman of the Hess Midstream Board. "We are excited for the future and look forward to working together to enhance Hess Midstream's performance."

Hess Midstream is a fee-based, growth-oriented midstream company that owns, operates, develops, and acquires a diverse set of midstream assets to provide services to Chevron, its subsidiaries, and third-party customers. The company's assets are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.

References:
[1] https://finance.yahoo.com/news/hess-midstream-lp-announces-changes-130000722.html
[2] https://www.ogj.com/general-interest/personnel-moves-promotions/article/55304202/hess-midstream-makes-leadership-board-changes-following-chevron-deal-completion
[3] https://www.marketscreener.com/news/hess-midstream-mixes-up-leadership-team-following-chevron-hess-merger-ce7c5cdede80f02c