Former Hess CEO John B. Hess joins Chevron’s board of directors

HOUSTON - Chevron Corporation (NYSE:CVX), a prominent player in the Oil, Gas & Consumable Fuels industry with a market capitalization of $320 billion, announced on Tuesday 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, he led the company’s transformation from an integrated oil company into a focused global independent exploration and production company. According to InvestingPro, Chevron demonstrates strong financial health with robust cash flows and moderate debt levels.

"We are excited to welcome John Hess to Chevron’s Board," said Mike Wirth, Chevron’s Chairman and CEO. "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."

Hess expressed his enthusiasm about joining Chevron’s board, stating he looks forward to working with the leadership team to meet global energy needs and create shareholder value.

Currently, Hess serves on the Board of Directors of Goldman Sachs and as a trustee at the Center for Strategic and International Studies. His previous roles include serving on the Secretary of Energy Advisory Board and as Chairman of the American Petroleum Institute.

Hess holds a bachelor’s degree from Harvard College and an MBA from Harvard Business School, where he also serves as a member of the Board of Dean’s Advisors.

Chevron, one of the world’s leading integrated energy companies, 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, with additional insights available in the comprehensive Pro Research Report, part of the coverage of 1,400+ US equities.

The information in this article is based on a company press release statement and enhanced with financial data from InvestingPro, which offers 8 additional exclusive tips and detailed metrics for Chevron Corporation.

In other recent news, Chevron has completed its $55 billion acquisition of Hess Corp., leading to significant developments for the companies involved. Following the merger, Hess Midstream Operations LP received an upgrade from S&P Global Ratings to ’BBB-’, with a stable outlook based on its contract profile and debt expectations. Chevron also disclosed the elimination of 575 positions in Houston, as reported in a Texas Workforce Commission filing. UBS has reiterated its Buy rating for Chevron, maintaining a price target of $177.00, reflecting optimism after the acquisition’s completion. Additionally, Block Inc is set to join the S&P 500 index, replacing Hess Corp, as a result of the merger. In another development, Chevron and Exxon Mobil are expected to collaborate more closely following a legal victory that resolved a dispute over Chevron’s acquisition of Hess. This resolution allows Chevron to gain a significant stake in Guyana’s oil discoveries, where Exxon remains the majority owner. The new partnership between Chevron and Exxon is seen as a positive step for future collaborations in the region.

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