Chevron Corp. has elevated John Watson to the role of executive vice president of strategy and development. Watson is currently president of Chevron International Exploration and Production. In his new post, which he will fill in January, Watson will oversee business development, mergers and acquisitions, strategic planning and the Project Resources Co., which supports the development of major capital projects within Chevron.

Watson joined Chevron in 1980 as a financial analyst. He was appointed president of Chevron Canada Ltd. in January 1996 and in February 1998 became vice president, strategic planning, for Chevron.

Chevron reported net income of $5.4 billion for the second quarter of 2007, compared with $4.4 billion in the corresponding 2006 period. For the first half of 2007, net income was $10.1 billion, a 21% increase from $8.3 billion in 2006.

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