Hess Midstream names new board and CEO following Chevron merger

Hess Midstream LP (NYSE: HESM) announced board changes and leadership appointments following the completion of the merger between Hess Corporation and Chevron Corporation. Chevron now beneficially owns Hess' approximately 37.8% interest in Hess Midstream on a consolidated basis.

John B. Hess, Gregory P. Hill, and John P. Rielly from Hess Corporation departed the board effective immediately. Andy Walz, President of Chevron Downstream, Midstream & Chemicals, joined as Chairman alongside new board members Kristen Ghattas and Kristi McCarthy from Chevron. Gerbert Schoonman remained on the board.

Three independent directors Stephen J.J. Letwin, David W. Niemiec, and John P. Reddy will continue serving on the board and audit committee. The company expects to appoint a fourth independent board member.

Jonathan C. Stein, previously Chief Financial Officer, was named Chief Executive Officer, replacing John B. Hess. Michael J. Chadwick was appointed Chief Financial Officer, succeeding Stein. Chadwick has held senior financial roles at Hess since 2000, most recently serving as Vice President and Controller since 2022.

Hess Midstream operates fee-based midstream assets primarily in the Bakken and Three Forks Shale plays in North Dakota's Williston Basin area. The company provides oil, gas, and produced water handling services to Chevron, its subsidiaries, and third-party customers.

The information is based on a company press release statement.

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