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One-time Chevron Canada president to drive company’s acquisitions

San Ramon, CA -- Chevron Corporation has announced that John S. Watson will become executive vice-president, Strate...


San Ramon, CA — Chevron Corporation has announced that John S. Watson will become executive vice-president, Strategy and Development. The new position will take effect January 1, 2008.

Watson, 50, is currently president of Chevron International Exploration and Production. In his new position, he will oversee business development, mergers and acquisitions, strategic planning and the Project Resources Company, which supports the development of major capital projects within Chevron.

Chevron also announced that it will restructure its global upstream operations into four operating companies to strengthen the company’s focus on long-term growth opportunities and enhance key business partnerships.

“These changes reflect our strong focus on growth, partner engagement and a disciplined approach to running our company,” said Dave O’Reilly, chairman and chief executive officer.

Watson joined Chevron in 1980 as a financial analyst and has held positions of increasing responsibility in his career. He was appointed president of Chevron Canada Ltd. in January 1996 and in February 1998 became vice-president, Strategic Planning, for Chevron Corporation. Watson served as the integration executive for the merger of Chevron and Texaco, and in October 2001 he was named vice-president and chief financial officer of the corporation. He assumed his current role in December 2004.

George Kirkland, executive vice-president Upstream and Gas, announced a new management team and organizational structure for Chevron’s worldwide exploration and production group. The organization will expand from two companies (Chevron International Exploration and Production and Chevron North America Exploration and Production) to four: Africa and Latin America; Asia Pacific; Eurasia, Europe and Middle East; and North America.

“These changes reflect the significant growth of Chevron’s global upstream operations over the past 15 years and position our company to manage continuing growth in the future,” Kirkland said. “It will also help expand leadership capacity across the upstream organization and create growth opportunities for the company’s next generation of leaders.”

More information about Chevron is available at www.chevron.com.