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# Chevron Picks New Energies Head Jeff Gustavson As Next CFO, Shifting Eimear Bonner To Oil
- URL: https://www.bullished.co/chevron-picks-new-energies-head-jeff-gustavson-as-next-cfo-shifting-eimear-bonner-to-oil-1d799f3b/
- Published: 2026-10-05T13:20:52.000Z
- Updated: 2026-10-05T13:20:52.000Z
- Description: An 8-K says three senior roles change January 1, 2027, with Gustavson on a $1,000,000 base salary and a 110% target bonus.
- Author: Matteo Parrino
- Tags: SEC Filings, CVX, Industry: Energy

Chevron's board elected New Energies president Jeff B. Gustavson, 54, as [chief financial officer](https://www.sec.gov/Archives/edgar/data/0000093410/000009341026000188/cvx-20260930.htm?ref=bullished.co) effective January 1, 2027, according to an 8-K the company filed Monday. The board approved the changes on Wednesday, September 30.

## What the 8-K says

Gustavson will serve as Chevron's principal financial officer. Current CFO Eimear P. Bonner becomes President, Oil, Products & Gas on the same date and stops being CFO, the filing says.

Vice Chairman Mark A. Nelson, who is also executive vice president of Oil, Products & Gas, keeps the vice chairman title. He takes responsibility for Strategy and Business Development and gives up the oil role, also effective January 1, 2027.

Gustavson's pay was set by the Management Compensation Committee, and the board's non-employee directors ratified it. It includes a [$1,000,000 annual base salary](https://www.sec.gov/Archives/edgar/data/0000093410/000009341026000188/cvx-20260930.htm?ref=bullished.co) and a 110% target bonus under the Chevron Incentive Plan, both starting January 1, 2027.

## An internal promotion

Gustavson joined Chevron in 1999 and has been President, New Energies since August 2021, per the filing. From February 2018 to July 2021 he was a vice president at Chevron North America Exploration and Production Company, overseeing its Mid-Continent Business Unit. Before that he was president of Chevron Canada Limited, where he was responsible for upstream interests in Canada.

His earlier work at Chevron covered finance, mergers and acquisitions, corporate strategic planning, supply and trading, investor relations and upstream. Assignments took him to the United States, Canada, the United Kingdom and Venezuela.

## What changes for holders

The finance chief's seat passes from an executive with an oil-side future to one who currently runs New Energies. The filing gives no reason for the moves. It does not say who will lead New Energies after Gustavson.

In Monday trading, as of 9:16 a.m. ET, CVX shares were at $206.69, down 0.20%.

All three moves take effect January 1, 2027, when Gustavson becomes CFO and Bonner and Nelson start their new roles.

### Sources

- [8-K Filing — CHEVRON CORP (CVX)](https://www.sec.gov/Archives/edgar/data/0000093410/000009341026000188/cvx-20260930.htm?ref=bullished.co) — SEC EDGAR