Chevron Corp’s CVX-N board of directors is considering an extension of Chief Executive Officer Mike Wirth’s mandatory retirement age, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Company veteran Wirth has been the board chairman and chief executive officer of Chevron since 2018 and will reach the energy giant’s fixed retirement age of 65 in late 2025.
Some board members believe the company does not have any internal candidates to succeed Wirth and the extra time will allow him to prepare a successor, the report said.
Wirth has been with Chevron since 1982.
Chevron did not immediately respond to Reuters request for comment.