Chevron Corp on Thursday unveiled a set of senior leadership changes slated to take effect in 2026, detailing retirements of long-serving executives and promotions from within its ranks. The company said the moves align with ongoing work to integrate assets from Hess and with broader industry pressures, including volatile oil prices, stronger capital discipline and increased investor scrutiny of returns.
Among the announced departures, Frank Mount, president of corporate business development, will retire in November after 33 years with Chevron. Jake Spiering, who currently serves as director of investor relations, is scheduled to succeed Mount on August 1. In turn, Jeanine Wai will step into the director of investor relations role effective April 1.
Chevron also disclosed that Patricia Leigh, president of supply and trading, intends to retire in July after 35 years with the company. Molly Laegeler, presently chief strategy officer, has been named Leigh's successor and will take charge of supply, logistics and trading effective March 1. On that same date, Kevin Lyon - who is leading Chevron's integration of Hess - will assume Laegeler's current responsibilities as chief strategy officer.
In the company's upstream ranks, Bruce Niemeyer, president of shale and tight, will retire in October after 26 years at Chevron. Gerbert Schoonman has been designated to succeed Niemeyer effective April 1. Chevron said Niemeyer will remain engaged with the company as a senior executive advisor through October, providing continuity during the transition.
The company framed these changes as part of a broader leadership renewal taking place while Chevron works through the practical and strategic implications of integrating Hess assets. Chevron cited a challenging market environment in which oil-price swings, a renewed emphasis on capital discipline and investor demands for returns are shaping corporate priorities.
The timeline laid out by Chevron staggers the handovers across the first three quarters of the year, with several successor appointments taking effect in March and April and retirements concluding later in the year. The appointments are internal promotions for the roles identified, maintaining continuity in key functions such as investor communications, corporate strategy, supply, logistics and trading, and the shale and tight business.
Summary: Chevron will implement a set of leadership transitions in 2026, including retirements of several senior executives and promotions from within, while the company continues integrating Hess assets amid a volatile energy market.
Key points:
- Multiple long-tenured executives are set to retire in 2026, including Frank Mount, Patricia Leigh and Bruce Niemeyer.
- Internal candidates will fill key roles: Jake Spiering, Jeanine Wai, Molly Laegeler, Kevin Lyon and Gerbert Schoonman have been named to succeed outgoing leaders on specified dates.
- The changes occur as Chevron integrates Hess assets and operates amid fluctuating oil prices, rising capital discipline and heightened investor focus on returns - factors that affect energy, upstream and trading sectors.
Risks and uncertainties:
- Transition risk - staggered retirements and role handovers through the year could affect continuity in strategy, supply and trading operations, with implications for energy and trading functions.
- Integration risk - Kevin Lyon's role leading Hess integration highlights ongoing integration work that could influence corporate strategy and operational priorities.
- Market volatility - the company noted fluctuating oil prices and increased investor focus on returns, creating uncertainty for capital allocation and performance in upstream and broader energy markets.