Latest news with #JohnHess
Yahoo
3 hours ago
- Automotive
- Yahoo
Hess is now owned by Chevron, but Hess toy trucks will remain owned by the Hess family
John , CEO of the Hess Corp., has struck a deal to keep the gas company's toy line in the family following its buyout by Chevron. Hess will also join the Chevron board of directors. The Hess trucks have been a holiday offering since 1964. The Hess gas-station chain's acquisition by Chevron may have wrapped up earlier this month, but when it comes to the Hess toy trucks that are a regular presence each holiday season, those are going to stay in the hands of the family. John Hess, CEO of the Hess Corp, plans to buy back the toy-truck business from Chevron. The price has yet to be determined, but the deal is expected to close next year. News of the return of Hess trucks to the Hess family came in a filing with the SEC on Wednesday. John Hess was also appointed to the Chevron board, the company announced in that filing. Hess and the toy trucks have been linked together for decades—and they're popular enough that when the merger was Chevron was announced, Mike Wirth, the CEO of that company, felt the need to announce the truck sales would continue when the merger closed. It's not just trucks. All Hess-themed toys, which have included helicopters, rescue vehicles, airplanes and even space shuttles, will revert to the Hess family. Hess also has struck a deal to retain the trademarks associated with his family name. Independent appraisers will determine the value of the toy business, the filing said. Hess toys have been sold since 1964 and have a rabid fan based. Some collectors have spend as much as $2,500 for past models. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
- Business
- Business Wire
John B. Hess Joins Chevron's Board of Directors
HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced that John B. Hess has been appointed to Chevron's Board of Directors. Hess, 71, served as CEO of Hess Corporation from 1995 to 2025 and as Chairman from 1995 to 2013. He led the company through its strategic transformation from an integrated oil company into a focused global independent exploration and production company. "We are excited to welcome John Hess to Chevron's Board," said Mike Wirth, Chevron's Chairman and CEO. "John not only built a great company, he is a highly respected industry leader, and our Board will benefit from his global experience, relationships and expertise.' 'I am delighted to join Chevron's Board of Directors at such an important time for the energy industry,' said John Hess. 'I look forward to working with the Board and leadership team to advance the company's mission to meet the world's growing energy needs safely and responsibly and to create significant value for shareholders.' Hess is a member of the Board of Directors of Goldman Sachs and the Board of Trustees at the Center for Strategic and International Studies. He previously served on the Secretary of Energy Advisory Board Quadrennial Review Task Force and as Chairman of the Board of the American Petroleum Institute. Hess is also a member of The Business Council, the Trilateral Commission and the Council on Foreign Relations. In addition, he serves on the Board of Directors of the Lincoln Center for the Performing Arts and the New York Philharmonic, and on the Board of Trustees at Mount Sinai Hospital. Hess holds a bachelor's degree from Harvard College and an MBA from the Harvard Business School. A member of the Board of Dean's Advisors at Harvard Business School, he was also Chairman of the Harvard Business School Campaign. Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow new businesses in renewable fuels, carbon capture and offsets, hydrogen, power generation for data centers, and emerging technologies. More information about Chevron is available at
Globe and Mail
3 days ago
- Business
- Globe and Mail
John B. Hess Joins Chevron's Board of Directors
Chevron Corporation (NYSE: CVX) announced that John B. Hess has been appointed to Chevron's Board of Directors. Hess, 71, served as CEO of Hess Corporation from 1995 to 2025 and as Chairman from 1995 to 2013. He led the company through its strategic transformation from an integrated oil company into a focused global independent exploration and production company. "We are excited to welcome John Hess to Chevron's Board," said Mike Wirth, Chevron's Chairman and CEO. "John not only built a great company, he is a highly respected industry leader, and our Board will benefit from his global experience, relationships and expertise.' 'I am delighted to join Chevron's Board of Directors at such an important time for the energy industry,' said John Hess. 'I look forward to working with the Board and leadership team to advance the company's mission to meet the world's growing energy needs safely and responsibly and to create significant value for shareholders.' Hess is a member of the Board of Directors of Goldman Sachs and the Board of Trustees at the Center for Strategic and International Studies. He previously served on the Secretary of Energy Advisory Board Quadrennial Review Task Force and as Chairman of the Board of the American Petroleum Institute. Hess is also a member of The Business Council, the Trilateral Commission and the Council on Foreign Relations. In addition, he serves on the Board of Directors of the Lincoln Center for the Performing Arts and the New York Philharmonic, and on the Board of Trustees at Mount Sinai Hospital. Hess holds a bachelor's degree from Harvard College and an MBA from the Harvard Business School. A member of the Board of Dean's Advisors at Harvard Business School, he was also Chairman of the Harvard Business School Campaign. Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow new businesses in renewable fuels, carbon capture and offsets, hydrogen, power generation for data centers, and emerging technologies. More information about Chevron is available at
Fibre2Fashion
22-07-2025
- Business
- Fibre2Fashion
Chevron finalises Hess deal, adds Guyana & Bakken assets
Chevron Corporation (NYSE: CVX) announced that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess' offshore Guyana asset. The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in critical energy markets around the world and a high cash margin production profile. In addition, on July 17, 2025, the Federal Trade Commission (FTC) lifted its earlier restriction, clearing the way for John Hess to join Chevron's Board of Directors, subject to Board approval. 'This merger of two great American companies brings together the best in the industry,' said Chevron Chairman and CEO Mike Wirth. 'The combination enhances and extends our growth profile well into the next decade, which we believe will drive greater long-term value to shareholders. Additionally, I'm pleased with the FTC's unanimous decision. John is a respected industry leader, and our Board would benefit from his experience, relationships and expertise.' 'We are proud of everyone at Hess for building one of the industry's best growth portfolios including Guyana, the world's largest oil discovery in the last 10 years, and the Bakken shale, where we are a leading oil and gas producer,' former Hess Corporation CEO John Hess said. 'The strategic combination of Chevron and Hess creates a premier energy company positioned for the future.' The acquisition adds world class assets, including Guyana and U.S. Bakken, to Chevron's diversified global portfolio where it is a leader in the Permian Basin, Gulf of America, DJ Basin, Kazakhstan, Eastern Mediterranean and Australia. Chevron now owns a 30% position in the Guyana Stabroek Block, which has more than 11 billion barrels of oil equivalent discovered recoverable resource; 463 thousand net acres of high-quality inventory in the Bakken; complementary assets in the Gulf of America with 31 thousand barrels of oil equivalent per day; and natural gas assets in Southeast Asia with 57 thousand barrels of oil equivalent per day. 'This accretive transaction is expected to drive significant free cash flow and production growth into the 2030s,' added Chief Financial Officer Eimear Bonner. 'We are quickly integrating our two companies and expect to achieve $1 billion in annual run-rate cost synergies by the end of 2025. All of this should enable even higher returns to shareholders over the long-term.' Under the terms of the merger agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. As a result, Chevron intends to issue approximately 301 million shares of common stock out of treasury to Hess stockholders in connection with the transaction. The 15.38 million shares of Hess common stock (which were acquired in open market transactions) beneficially owned by Chevron immediately prior to the closing were cancelled for no consideration. Chevron expects to achieve the following transaction benefits: Accretive to cash flow per share and extends growth into 2030s Expected to be accretive to cash flow per share in 2025 after achieving synergies and start-up of the fourth floating production storage and offloading vessel in Guyana. Increases Chevron's estimated five-year production and free cash flow growth rates and expected to extend such growth into the next decade. Capital and cost efficient The combined company's capital expenditures budget is expected to be between $19 and $22 billion. After closing, Chevron will target to sustain a double-digit Return on Capital Employed (ROCE) at mid-cycle prices. The transaction is expected to achieve run-rate cost synergies of $1 billion by the end of 2025. Chevron will provide updated long-term financial and operational information and guidance to reflect the acquisition of Hess at its Investor Day in New York City on November 12. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Chevron has completed its acquisition of Hess Corporation, adding key assets in Guyana and the Bakken to its global portfolio. The deal enhances long-term growth and cash flow, with $1 billion in expected synergies by end-2025. John Hess may join Chevron's board following FTC clearance. Hess shareholders receive 1.025 Chevron shares per Hess share. ALCHEMPro News Desk (HU)
Daily Mail
20-07-2025
- Entertainment
- Daily Mail
BBC radio legend dies after incredible two-decade career as devastated colleagues pay tribute
BBC radio legend Charlie Partridge has died, sparking an out pour of condolences from fans and colleagues. The broadcaster ran BBC Radio Lincolnshire for over 20 years and has been praised for his incredible work. Tributes flooded in for the radio veteran including his former BBC News Foreign Correspondent and colleague Jonathan Charles sharing a heartfelt message on X. He said: 'I am very sorry to hear of the loss of Charlie Partridge. 'More than 45 years ago, he taught me a lot about broadcasting at BBC Nottingham. 'He was a great guy and we stayed in touch, occasionally swapping messages in the years since. 'Sometimes discussing Springsteen. My thoughts are with his family.' Another responded: 'Sad to hear Jonathan, John. Charlie was a lovely man, who believed in truly local radio. 'He was also very kind and supportive. Thoughts with his family.' John Hess also shared a message for the late broadcaster, writing: 'As others have posted online, I'm deeply saddened to have learnt yesterday of the death of Charlie Partridge.' John Gelson wrote on Facebook: 'I'm sharing Lip Dub Lincoln again tonight in tribute to the man who was the creative genius behind it, former BBC Radio Lincolnshire Editor Charlie Partridge, who has sadly passed away. 'When I returned to the BBC as a freelance journalist at BBC Radio York in 2016, Charlie was acting Editor there- we got on well from my first day, as we swapped tales of local radio over the years. 'Thoughts are with Charlie's family and many friends in broadcasting. RIP.' It comes after last month radio presenter Simon Marlow, who had worked for the British Forces Broadcasting Service since 2007, sadly died in London on June 27. The presenter, who made his first break on radio as a freelance voice in 1987, had several stints at UK stations like Radio City, 2-TEN, Chiltern Radio and Classic FM. Tributes flooded in for the radio veteran including his former BBC News Foreign Correspondent and colleague Jonathan Charles sharing a heartfelt message on X He later became a familiar star at BFBS both on the radio and helping behind the scenes with production. During his time with BFBS, Simon was posted across the globe including Afghanistan, Cyprus, Brunei, Germany, the Falklands and Northern Ireland. Known for his deep love of music and his passion for bringing the armed forces community together, Simon's voice was a constant companion to troops stationed around the world. He was described as a 'force of nature' by colleagues. During the 2020 Coronavirus pandemic, Simon was based in Gibraltar and shortly after planned to retire just across the border in Spain. The broadcaster was most recently based in Northern Ireland working as a station manager for BFBS. Tributes have poured in for the star including from BFBS CEO, Ben Chapman who described Simon has 'making a difference'. He said: 'Wherever Simon was, whoever he was with, there was always laughter. He made a difference.' The BFBS official X account also shared the news, writing: 'It is with great sadness that we announce the death of our much-loved colleague, Simon Marlow. Simon worked for BFBS worldwide as a radio presenter and producer, most recently as Station Manager at BFBS Northern Ireland.'
