Chevron Shareholders Re-elect Board with 97% Support, Reject Independent Chair
CVX•At Chevron’s annual meeting, stockholders re-elected all 12 board nominees with an average of 97% support and ratified the appointment of PricewaterhouseCoopers with 96% approval. Proposals for an independent board chair, Indigenous Peoples’ rights report and a third-party human rights review received only 15%, 9% and 9% backing, respectively.
1. Meeting Overview
Chevron hosted its Annual Meeting of Stockholders in Houston, spotlighting its continued focus on delivering energy and advancing lower-carbon initiatives. CEO Mike Wirth reaffirmed the company’s consistent strategy to leverage strengths in oil and gas while gradually expanding new energy businesses.
2. Board Elections and Approvals
Stockholders cast votes on six agenda items, with 97% average support for all 12 director nominees and 96% backing for ratifying PricewaterhouseCoopers as independent auditor. The named executive officer compensation plan also received 97% approval, reflecting strong investor confidence in leadership incentives.
3. Governance and ESG Proposals
Governance and environmental, social and governance (ESG) measures fared poorly, with only 15% support for separating the board chair from the CEO role. Proposals to publish a report on Indigenous Peoples’ rights and to commission a third-party human rights review each garnered just 9% backing, indicating limited shareholder appetite for these disclosures.
4. Shareholder Participation
More than 1.6 billion shares—about 85% of Chevron’s outstanding common stock—were represented by proxy, underscoring high engagement on governance matters. Final voting results will be filed in a Form 8-K and posted on Chevron’s investor website once certified.
