chevron corp (CVX) Key Developments
Chevron Corporation to Move Some Jobs to Houston
Feb 20 15
Chevron Corp. plans to bring some jobs to Houston. The company said it will move 100 jobs from its corporate headquarters to Houston in 2015. However, the company's headquarters will remain in California.
Chevron Corporation Presents at Credit Suisse Energy Summit 2015, Feb-23-2015
Feb 19 15
Chevron Corporation Presents at Credit Suisse Energy Summit 2015, Feb-23-2015 . Venue: Vail Cascade Resort & Spa, 1300 Westhaven Drive, Vail, Colorado, United States. Speakers: Jeff Shellebarger, President of Chevron North America Exploration and Production Company.
Chevron Corporation Reaches Lawsuit Settlement Agreement with James Russell Deleon
Feb 16 15
Chevron Corporation has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. Chevron brought claims against DeLeon in Gibraltar, where DeLeon maintains a residence, for his role in funding and advancing the fraudulent lawsuit. In the settlement, DeLeon has resolved those claims by withdrawing financial support from the Ecuador litigation and assigning his interests in the litigation to Chevron. Chevron, in turn, has agreed to release all claims against DeLeon. In filings with the Gibraltar court, DeLeon previously disclosed having invested approximately $23 million in the case in exchange for an approximate 7% stake in the $9.5 billion Ecuadorian judgment against Chevron. DeLeon's funding entity, Torvia Limited, and his associate, Julian Jarvis, are also parties to the settlement. On March 4, 2014, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New Yorkruled that the $9.5 billion judgment against Chevron in Ecuador was the product of fraud and racketeering activity, finding it unenforceable in the United States and holding Steven Donziger, the lead lawyer behind the lawsuit, liable for RICO violations. The judgment also discussed DeLeon's involvement, which included providing the main source of funding for the propaganda film Crude, contributing approximately 60% of the film's total funding. As part of the settlement, DeLeon has agreed to assign to Chevron all of his financial interests in Crude.
Inge Thulin Joins Chevron's Board
Feb 7 15
Chevron Corp. reported that Inge G. Thulin has been elected to Chevron's board of directors. He will serve on the company's Board Nominating and Governance Committee and Management Compensation Committee.
Chevron Corporation Announces Executive Changes
Feb 2 15
Chevron Corporation named Jeanette L. Ourada as corporate vice president and comptroller effective April 1. Ourada succeeds Matthew J. Foehr, who will retire from the company March 31 after 33 years of outstanding service. In her new role Ourada will lead corporate wide accounting, financial reporting and analysis, and internal controls. Additionally she will oversee Finance Shared Services, the organization she has led since July 2013. Since joining Chevron as part of the Unocal acquisition in 2005, Ourada, 49, has held a series of leadership roles within the finance organization. Before assuming her current role as the general manager of Finance Shared Services, Ourada served as assistant treasurer, operating company support and intercompany financing.