During an interview at the Wall Street Journal CEO Council Summit, Chevron's chief executive discussed his tenure and the company's operations in Venezuela.

Succession Planning

The CEO revealed that conversations have begun with Chevron's board regarding his future and identifying a potential successor, as he approaches eight years in the role. He stated that his responsibility is to prepare the next leader and then step aside for someone better prepared. When asked for advice for a successor, he indicated he has not fully considered that yet. In response to a moderator's comment about peak CEO performance occurring after ten years, the executive expressed skepticism about serving many years beyond that point.

Operations in Venezuela

The discussion also covered Chevron's challenging situation in Venezuela. The company has been forced to curtail its operations there due to pressure from the U.S. government and ongoing sanctions. The CEO confirmed having spoken to former President Donald Trump about Venezuela, though not recently, and noted that Trump had not ruled out using U.S. troops in the country. Despite the political pressure, Chevron maintains a concern for the safety of its employees in Venezuela. The executive emphasized that the company has consistently communicated to multiple U.S. administrations the importance of maintaining an American presence on the ground to ensure continuity through political changes.