John Watson, CEO of Chevron, will step down from the global oil company, and Michael Wirth, Chevron’s vice chairman, may replace him, according to The Wall Street Journal.
Watson was named CEO after he oversaw the integration of Texaco and Unocal Corp. into Chevron.
Under his leadership, the company quit processing crude in Western Europe as that market matured and growth slowed, and sharpened its focus on expanding demand centers in East Asia and Latin America, according to Bloomberg.