Restructuring At Chevron Corporation (NYSE:CVX)
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 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.