New CFO appointed as Chevron shuffles leadership roles

U.S. oil major Chevron has made several senior leadership changes including the appointment of a new chief financial officer (CFO).

Sign in front of Chevron’s Houston office; Image: Jonathan McIntosh; Source: Flickr – under the CC BY 2.0 license (image is cropped)

Chevron said on Monday that it named Pierre Breber as the vice president and CFO, effective April 1. He replaces Patricia Yarrington who chose to retire after 38 years of service with the company.

In related staff moves, Mark Nelson, the current VP of midstream, strategy, and planning, will succeed Breber as the executive VP of downstream and chemicals.

Colin Parfitt, currently the president of supply and trading, will become vice president of midstream. Both appointments are effective on March 1.

Michael Wirth, Chevron’s chairman and CEO, said: “Pat’s leadership, insight, and judgment were instrumental in directing our financial strategy over the last decade and essential in guiding our company through unpredictable commodity market conditions in recent years.”

Breber joined Chevron in 1989. He became vice president and treasurer in 2009, vice president of gas and midstream in 2014, executive VP of gas and midstream in 2015, and executive VP of downstream and chemicals, his current position, in 2016.

“Pierre is uniquely qualified to be our next CFO, having served in senior finance roles and operating roles across our downstream, midstream, and upstream businesses. Pierre’s deep financial background and broad knowledge of our operations will be valuable in ensuring we remain financially strong and create lasting shareholder value,” Wirth said.

Nelson brings more than three decades of marketing, operations, and strategic planning experience to his new role. Prior to his current position, which he assumed in 2018, Nelson served as VP of corporate strategic planning; president of international products, with responsibility for Chevron’s refining and marketing businesses in Europe, Africa, Middle East, and Asia; and president of Chevron’s Canadian upstream business in Calgary.

“Mark’s breadth of experience, results-driven leadership and deep knowledge of our downstream and chemicals business makes him the right person to take the helm of this significant segment of Chevron,” added Wirth.

Parfitt began his career with Chevron in 1995 with the Chevron International Oil Company, based in London. Since that time, he has held a variety of leadership, sales and marketing positions in Chevron’s supply and trading, Oronite Additives, Lubricants, and Americas Products businesses.

Wirth stated: “Colin is an experienced leader who will ensure that our midstream business continues to create value in supporting our upstream and downstream assets and enabling Chevron to continue to deliver the energy that improves lives and powers the world forward.”

It is worth noting that Breber, Nelson, and Parfitt will all report to Wirth following them taking on their new roles.

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