Chevron (NYSE:CVX) released its preliminary Q2 results along with announcing some changes in its management. As a result, shares gained more than 2% intra-day today.
For Q2, the company’s earnings stood at $6 billion, with adjusted earnings amounting to $5.8 billion. EPS was recorded at $3.20, surpassing the expected figure of $2.99.
In addition to the financial results, Chevron made notable management announcements. They decided to waive the mandatory retirement age provision for the current chairman and CEO, Mike Wirth. Furthermore, Pierre Breber, who has served as the CFO for a long time, is set to step down on March 1, 2024.
The company revealed that Eimear Bonner, who presently holds the position of vice president and chief technology officer and also serves as the president of the Chevron Technical Center, will be taking over as the new chief financial officer, succeeding Breber in that role.