Restructuring At Chevron Corporation (NYSE:CVX)

Posted by Samantha Donahue October 8, 2013 0 Comment 1229 views

On Monday, Chevron Corporation (NYSE:CVX) announced that it is now making 3 new appointments to the company’s executive team. It is also restructuring its service organizations and existing technology. With effect from 1 January 2014, Jay Johnson will be the Senior Vice-president of Upstream while Joe Gaegea will be Senior Vice-President of Technology, Projects & Services.

They will report to the Vice-Chairman and Executive Vice-President of Upstream, George Kirkland. W.E.F the same date, Pierre Breber will take over the Corporate Vice-President and President of Chevron Gas & Midstream post and will be reporting in to John Watson who is Chevron Corporation (NYSE:CVX)’s Chairman and CEO. Once Kirkland retires in 2015, both Geagea and Johnson will be reporting in to Watson.

Monday’s trading session

In Monday’s trading, Chevron Corporation (NYSE:CVX) dropped by 0.22%. The opening price of the shares was $117.43, which climbed to an intraday high of $118.50 and dipped to a close of $117.87. Approximately 5.68 million shares were traded on Monday while an average volume of 5.38 million shares were traded over a 30 day period. The 52-week low of Chevron Corporation (NYSE:CVX) shares is $100.66 and its 52-week high is $127.83. The company has a market capitalization of $227.73 billion.

About the company

Chevron Corporation (NYSE:CVX) manages the company’s investments in its subsidiaries & affiliates and provides financial, administrative, technology and management support to the subsidiaries in the U.S as well as across the world. These subsidiaries are involved in fully-integrated petroleum-operations, chemicals-operations, mining-activities, power-generation and energy-services.

Upstream’s projects

Upstream’s operations are mainly made up of exploring developing & producing crude-oil and natural-gas; processing & transportation as well as re-gasification that are associated with liquefied natural-gas. It is also involved in transporting crude-oil by international oil-export pipelines; transportation, storage & marketing of natural-gas, as well as a gas-to-liquids project.

About Samantha Donahue

Samantha Donahue is a digital fellow with GDP insider. Samantha earned a Bachelor's degree in Government from Cornell University and later his Master's degree in Journalism from Columbia University. She has also received numerous awards from the Associated Press, Society of Professional Journalists, and other media organizations for many of her exclusive stories. Samantha thrives reporting on breaking news and as a general assignments news reporter.

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