One of the successors of John D. Rockefeller's original Standard Oil Company, Chevron Corporation (NYSE: CVX) was founded in 1879. Chevron has since grown to become one of the world's largest multinational oil and gas industry companies, with substantial business activities in 25 countries. As of November 2021, the company is ranked at number 75 on Fortune's 500 Global List.
Chevron's two primary business divisions are upstream and downstream operations. The upstream division is involved in the exploration and production of oil and natural gas, while the downstream operations cover refining, transportation, and marketing. Chevron is also involved in debt financing, insurance, real estate, and technology development.
Chevron announced its Q3 2021 results on Oct. 29, 2021. The oil and gas company reported $43 billion in sales and other operating revenues this quarter, compared to $24 billion over the same period in the previous year.
Chevron's three largest individual shareholders are members of the company's board of directors or Chevron corporate officers. Below are their stories.
- Chevron is one of the largest multinational oil and gas industry companies in the world, with substantial business activities in 25 countries.
- As of the most recently available information, chief executive officer (CEO) Michael K. Wirth is Chevron's largest individual holder of Chevron common stock.
- Executive vice president, Upstream, James W. Johnson, is the second-largest individual shareholder.
- Executive vice president Joseph C. Geagea is the third-largest individual shareholder.
Michael K. Wirth
Michael K. Wirth has been chief executive officer (CEO) and chairman of the board of Chevron Corporation since Feb. 1, 2018. Wirth has had a long career at Chevron, joining the company in 1982 as a design engineer after earning a bachelor’s degree in chemical engineering from the University of Colorado.
Wirth worked his way up the ranks, becoming president in 2001 of Marketing for Chevron’s Asia/Middle East/Africa business based in Singapore. From 2003 to 2006, he served as president of Global Supply and Trading before being named executive vice president of Downstream and Chemicals, a role he held from 2006 to 2015.
Before becoming Chevron's CEO, Wirth served as vice chairman of the board in 2017 and executive vice president of Midstream and Development from 2016 to 2018. Over his decades of employment with the company, Wirth has been responsible for overseeing supply and trading, pipeline and power operating units, business development, corporate strategy, and corporate governance.
As of March 15, 2021, Wirth was Chevron's single largest shareholder, beneficially owning 1,245,835 shares of the company.
According to Chevron's proxy statement filing with the Securities and Exchange Commission (SEC) on March 15, 2021, Pierre R. Breber, vice president and chief financial officer (CFO) of Chevron, owns 668,851 shares and is the fourth-largest individual shareholder. Mark A. Nelson, executive vice president of Downstream and Chemicals, owns 301,141 shares and is the fifth-largest individual shareholder.
James W. Johnson
James W. Johnson has been Chevron's executive vice president, Upstream, since 2015. His responsibilities include overseeing global exploration and production for crude oil and natural gas. Similar to Michael Wirth, James Johnson has enjoyed a long career at Chevron.
In 1981, Johnson earned a bachelor’s degree in electrical engineering from the University of Illinois. That same year he joined Chevron as a design and construction engineer. In 1987, he earned a master’s degree in business administration from Louisiana State University.
Johnson worked as managing director of Chevron's Australasia business unit from 2003 to 2008. His duties included the exploration and development of the Wheatstone and Greater Gorgon area gas fields. In 2008, he was named managing director of the Eurasia business unit. He then became president of Chevron Europe, Eurasia and Middle East Exploration and Production Company in 2011, a role he held until 2014.
As of March 15, 2021, Johnson was Chevron's second-largest individual shareholder, beneficially owning 976,813 shares of the company.
Joseph C. Geagea
In August 2021, Joseph C. Geagea assumed the position of executive vice president and senior advisor to Chevron’s Chairman and CEO. Geagea has held many top management and executive roles at Chevron since joining the company in 1982 as a design engineer. These include executive vice president of Technology, Projects and Services and president of Chevron Gas and Midstream.
His duties have encompassed managing energy technology; delivery of capital projects; procurement; information technology; health, safety, and environment; environmental management; and business and real estate services. Geagea holds a bachelor’s degree and a master’s degree in civil engineering from the University of Illinois.
As of March 15, 2021, Geagea was Chevron's third-largest individual shareholder, beneficially owning 796,295 shares of the company.