Chevron Hands Mantle to Ex-Refining Boss Mike Wirth

Mike Wirth, who spent his entire career with Chevron Corp., will succeed John Watson as chairman and chief executive as the world’s third-largest publicly traded oil explorer recovers from a global oil market hammered by a price-killing supply glut.

Wirth, 56, was named vice chairman in February and brings 35 years of experience in refining, chemicals, fuel sales and pipeline management to the c-suite at the San Ramon, California-based company. His crowning achievement was selling off low-performing assets like oil refineries and storage terminals that were a drag of Chevron’s profits.