ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 28.Jul.2025, Words: 342) â The board of directors of Chevron Corporation appointed John B. Hess as a member of the board, effective 28 Jul. 2025.
Mr. Hess will also serve as a member of the public policy and sustainability committee of the board.
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Mr. Hess, age 71, served as chief executive officer of Hess Corporation from 1995 until 18 Jul. 2025, and as chairman and chief executive officer of Hess Midstream GP LLC, the general partner of Hess Midstream LP, from 2014 until 18 Jul. 2025, Chevron announced on 28 Jul. 2025 in a Form 8-K filing with the US Securities and Exchange Commission (SEC).
Mr. Hess was a director of Hess from 1978 until 18 Jul. 2025, and previously served as its chairman of the board from 1995 until 2013. He has served as a director of The Goldman Sachs Group, Inc. since June 2024 and previously served as a director of KKR & Co. Inc. from Jul. 2011 until Jun. 2023.
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Restricted stock
On 28 Jul. 2025, the Chevron board also approved a prorated grant to Mr. Hess of the annual restricted stock unit award granted to non-employee directors under the Chevron non-employee directorsâ equity compensation and deferral plan (the NED Plan), to be granted on the effective date.Â
The number of restricted stock units to be received by Mr. Hess is equal to the product of (x) $235,000 and (y) a fraction, the numerator of which is the number of days remaining in the annual compensation cycle (as defined in the NED Plan) beginning on the effective date and the denominator of which is the total number of days in the annual compensation cycle, and dividing that product by the closing Chevron common stock price on the effective date.Â
Chevron
Mr. Hess will also be entitled to receive the annual cash retainer for non-employee directors of $155,000, which will be prorated, Chevron said.
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By Chad Archey reporting from Atlanta. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
