Randolph S. Richards was named corporate vice president and treasurer at Chevron Corp., San Ramon, Calif., effective May 1, the company announced Monday.
Mr. Richards will replace Paul V. Bennett, who is retiring after 36 years with the company.
Mr. Richards will lead Chevron’s banking, financing, cash management insurance, pension investments, and credit and receivables activities, according to a news release from the energy company.
Currently, Mr. Richards is vice president of finance for Chevron’s upstream unit. He will be replaced by Rex Mitchell, general manager — benefit plan investments, a Chevron spokesman said. Mr. Mitchell will be replaced by Irene Melitas, deputy comptroller.
Since joining Chevron in 1979, Mr. Richards has also served as deputy comptroller; general manager, investor relations; and manager of corporate financing within the company’s treasury department.
As of Dec. 31, Chevron’s U.S. and international pension fund assets totaled $10.3 billion and $4.1 billion, respectively, according to its most recent 10-K filing. Chevron also administers a $19 billion 401(k) plan.