Good news and not a common sight, the splitting of the Chairman and CEO positions.
Two different jobs held by two different individuals is good governance.
I congratulate Mr. O´Reilly!
Onésimo Alvarez-Moro
See article:
The Chevron Corporation announced yesterday that it would separate the positions of chief executive and board chairman and make it easier for shareholders to remove directors.
The chairman will now be elected annually by the board, the company, based in San Ramon, Calif., said in a public filing. Previously, the oil producer’s chief executive automatically occupied the role of chairman.
David J. O’Reilly, 60, has held both positions since January 2000. During his tenure, Chevron stock delivered annual average returns of 11 percent, assuming reinvestment of dividends. The decision to split the top jobs was approved by the 13-member board at a Jan. 31 meeting, the filing said.
See full Article.
Posts
