Randolph S. Richards Named Chevron Treasurer

SAN RAMON, Calif.--(BUSINESS WIRE)--

Chevron Corporation CVX today announced that Randolph S. Richards has been named corporate vice president and treasurer, effective May 1, 2016. Richards replaces Paul V. Bennett, who is retiring from the position after 36 years of service with the company.

"Paul has demonstrated a tremendous capability to both assess and manage risk, and has played an important role in helping to guide our financing strategies for the last several years," said Patricia E. Yarrington, Chevron's chief financial officer. "He has proven leadership skills and financial expertise, both of which were evident in multiple ways, multiple times over the course of his career."

Richards, 61, is currently vice president of Finance for Upstream. In his new role, Richards will lead Chevron's banking, financing, cash management, insurance, pension investments, and credit and receivables activities. "Randy's financial acumen and breadth of experience make him well qualified to guide our financing strategies at this important juncture," said Yarrington.

Richards joined Chevron in 1979. Since then, he has held a variety of senior corporate and operations-related financial positions, including deputy comptroller, general manager Investor Relations and manager of corporate financing within the Treasury Department.

Richards earned his bachelor's degree in Industrial Engineering at Stanford in 1977 and his Master's in Business Administration from the University of Chicago in 1979.

Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power and produces geothermal energy; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160404006552/en/