Clay Neff tapped to lead Chevron’s upstream segment; Bruce Niemeyer to head up shale division
Chevron has tapped two of its executives to lead its upstream and shale efforts as part of a broader organisational restructure amid the US supermajor’s plans to trim costs in 2025.
Clay Neff, currently Chevron’s president of international exploration and production, has been named president of the company’s upstream segment.
Chevron also named Bruce Niemeyer, president of its Americas exploration and production efforts, as president of the company’s shale and tight endeavours.
Both appointments are effective 1 July.
More broadly, Chevron is splitting its oil, products and gas segment into two divisions: upstream; and downstream, midstream and chemicals. Andy Walz will continue his role as president of downstream, midstream and chemicals for Chevron.
Despite the restructure, Chevron vice chairman Mark Nelson will continue to lead both of those divisions under the oil, products and gas banner.
In other moves, Ryder Booth was named vice president of technology, projects and execution. He will replace Balaji Krishnamurthy, who has been named president of Chevron’s Australia operations.
The changes come after Chevron said it would lay off thousands of workers, or upward of 20% of its workforce, by 2026.
Chevron said the leadership shuffles are “part of the company’s efforts to simplify its organisational structure” and operate more efficiently.
“Our new organizational structure and leadership appointments are designed to improve our operational efficiency and position Chevron for sustained growth,” Chevron chief executive Mike Wirth said in a statement. “These changes will help enable us to drive innovation and execution and deliver value for our shareholders.”
Neff’s appointment as Chevron’s upstream boss follows a similar move from rival ExxonMobil in December when Dan Ammann was named president of ExxonMobil Upstream Company.
It’s also another stark change for Chevron, which began the process last year of moving its headquarters from its longtime home of California to Houston.
Chevron shares were flat in early trading Monday.
