On September 1, 2019, Chevron Corporation, one of the world's largest integrated energy companies, named John S. Watson as its new Chief Executive Officer and Chairman. Watson had served as the company's Chief Financial Officer and Vice President since 2010 and was a member of board since 2010. He succeeds Michael K. Wirth, who had been at the helm of the company since February 2018.
Watson has been a significant part of the Chevron team for more than a decade and is well-versed in the specifics of the company. With a background in finance, Watson has held various roles in Chevron’s finance department, including overseeing mergers and acquisitions, corporate restructurings, and joint venture activities. In addition, Watson is experienced in strategic planning and regulatory compliance, project finance and strategic investments.
Prior to joining the Chevron Corporation, Watson served as Vice Chairman of the Global Investment Banking Group at JPMorgan Chase. He also served as Chief Financial Officer and Vice President of Exploration and Production for Phillips Petroleum Company for 10 years. Watson has been a director of Occidental Petroleum Corporation since 2018 and a director of Schlumberger Limited since 2014.
Under Watson’s leadership, the company is focused on being the best integrated energy company. It is pursuing a strategy of balanced investments in development of conventional and unconventional oil and natural gas, investing responsibly in renewables and advancing energy solutions that lower emissions.
Chevron is committed to delivering reliable, responsibly produced energy necessary to fuel and improve global economic progress. To this end, Watson has made a point of emphasizing Chevron’s commitment to safety, environmental protection and social responsibility, with a goal to have a net zero emission by 2050.
In addition, Watson has been quick to point out that while the company is focused on increasing profits, it is doing so responsibly. With a strong emphasis on innovation, diversifying its portfolio, improving operational excellence and technology integration to optimize returns, Watson understands that in order to be successful and remain competitive, Chevron must remain focused on its core business and stay on the leading technology edge to remain economically viable.
In his remarks upon assuming the role of CEO, Watson noted the importance of making the right investments to ensure Chevron’s continued growth. He specifically mentioned the importance of staying competitive, being agile and leaning into today’s digital transformation, coupled with maintaining a focus on long-term growth and sustainability.
Chevron’s board of directors is confident that Watson has the necessary experience, competency and vision to lead the company forward. With his proven record of strong financial, operational and strategic leadership, Watson is well-positioned to capitalize on Chevron’s opportunities and build on the successes it has accomplished under Wirth’s tenure.
Watson also approaches Chevron’s leadership with an attitude of collaboration, staying true to the company’s integrated business model. He has vowed to leverage the company’s long-term commitment to operational excellence, development of renewable energy sources, and improved sustainability practices. On the collaboration front, Watson believes that continued partnership and engagement with communities and all stakeholders are essential to Chevron’s success in the years and decades to come.
Watson believes his team can leverage Chevron’s strong global presence in order to set the gold standard for integrated energy companies. He has demonstrated his commitment to this goal, as from day one as CEO, he and his team have been looking for ways to drive performance, explore new strategic partnerships and become the world leader in a rapidly changing and competitive energy industry.
Overall, Watson is committed to Chevron’s goal of providing safe and responsible energy in a sustainable way. Watson and those at Chevron understand the critical role energy plays in the world and are dedicated to providing it at the highest quality and in the most responsible way possible. He understands the importance of remaining efficient, innovative and financially prudent while still growing the company responsibly and leading the industry. With Watson at the helm, Chevron’s future has never been brighter.
