John Watson intends to step down as chief executive officer of Chevron Corp., The Wall Street Journal reported on Aug. 22.
Michael Wirth, Chevron’s vice-chairman and executive vice-president of midstream and development, is seen as the favorite to succeed Watson. Wirth previously was executive vice-president of downstream and chemicals.
WSJ’s source said an announcement is expected next month, with Watson staying aboard during a transition period. Chevron has not commented on the report.
Watson has been Chevron’s chairman and chief executive officer since 2010 and was vice-chairman in 2009-10. He joined the company in 1980 as a financial analyst. Wirth joined Chevron in 1982 as a design engineer.
