Common stock, par value $.75 per share
- Symbol
- CVX
- Exchange
- NYSE
- Classification
- COMMON
- Status
- Current
Current Report · Items 5.02 · 8-K
Chevron Corporation
CVXNYSEEQUITYCurrent
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) On September 30, 2026, the Board of Directors (the “Board”) of Chevron Corporation (”Chevron”) approved certain officer elections. Mark A.…
Company context
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of operations, and grow new energies businesses. More information about Chevron is available at www.chevron.com.
Current securities
Registered securities in this filing
Chevron Corporation · 8-K · Filed 2026-10-05
Disclosure sections
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On September 30, 2026, the Board of Directors (the “Board”) of Chevron Corporation (”Chevron”) approved certain officer elections. Mark A. Nelson, currently Chevron’s Vice Chairman and Executive Vice President of Oil, Products & Gas, will remain Vice Chairman with responsibility for Strategy and Business Development in addition to his corporate duties, and will no longer serve as Executive Vice President, Oil, Products & Gas, in each case, effective January 1, 2027. Further, Eimear P. Bonner, currently Chevron’s Chief Financial Officer, will become President, Oil, Products & Gas, and will no longer serve as Chief Financial Officer, in each case, effective January 1, 2027.
(c) On September 30, 2026, the Board elected Jeff B. Gustavson to the position of Chief Financial Officer of Chevron, effective January 1, 2027. In this role, Mr. Gustavson will serve as Chevron’s principal financial officer.
Mr. Gustavson, age 54, joined Chevron in 1999, and currently serves as President, New Energies, a position he has held since August 2021. From February 2018 to July 2021, Mr. Gustavson served as the Vice President of Chevron North America Exploration and Production Company, a division of Chevron U.S.A. Inc., an indirect, wholly owned subsidiary of Chevron, overseeing its Mid-Continent Business Unit and, prior to that, served as President of Chevron Canada Limited, an indirect, wholly owned subsidiary of Chevron, where he was responsible for upstream interests in Canada. Prior to these roles, Mr. Gustavson has held positions in finance, mergers and acquisitions, corporate strategic planning, supply and trading, investor relations, and upstream while at Chevron, with numerous assignments in the United States, as well as Canada, the United Kingdom, and Venezuela.
In connection with this election, the non-employee Directors of the Board ratified the decision of the Management Compensation Committee of the Board to provide Mr. Gustavson an annual base salary of $1,000,000, effective January 1, 2027. In addition, effective January 1, 2027, Mr. Gustavson’s target bonus percentage under the Chevron Incentive Plan will be 110%.