Chevron Corporation has named Jeff Gustavson president, Chevron New Energies, effective August 2, 2021. Gustavson will serve as a corporate officer and report to Chevron Chairman and CEO Michael Wirth.
Gustavson will lead a new, dedicated organissation focused on low carbon business prospects that have the potential to scale. Chevron New Energies’ initial focus will include commercialisation opportunities in hydrogen, carbon capture, and offsets and support of ongoing growth in biofuels. Additional detail about these efforts will be provided on September 14th during the company’s Energy Transition Spotlight investor presentation.
“Chevron New Energies reflects our higher returns, lower carbon strategy,” says Wirth. “We believe the dedication of resources in a new organisation will accelerate growth in multiple business lines that we expect to be part of a lower carbon energy system.”
Gustavson is currently vice president of Chevron North America Exploration & Production Company and oversees its Mid-Continent Business Unit. He previously served as president of Chevron Canada Limited, and has held positions in Investor Relations, Corporate Strategic Planning, Finance, Mergers & Acquisitions, and Supply & Trading.
In a separate appointment, Ryder Booth has been named vice president of Chevron North America Exploration & Production Company, leading the Mid-Continent Business Unit and succeeding Gustavson. Booth, currently vice president, Capital Projects, will be responsible for a large resource base of oil and liquids-rich assets in the mid-continent United States, including Chevron’s significant Permian assets in Texas and New Mexico. His appointment is effective August 2, 2021.