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Chevron CEO Watson Plans to Step Down, WSJ Reports

John Watson, who has led Chevron Corp. since 2010, is planning to step down as the oil major seeks a new chief executive officer, the Wall Street Journal said, citing people familiar with the matter.

While the San Ramon, California-based producer has not made a final decision on a successor, Michael Wirth, a 56-year-old Chevron lifer whose elevation was telegraphed in January when the company announced his promotion to vice chairman, has been seen as a leading candidate. An announcement will likely be made next month, the Journal said.

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