Leon Hess founded Hess Corp. with a secondhand truck delivering fuel oil during the depression. Ninety years later, his son, John Hess, has agreed to sell the US oil producer to Chevron Corp. in a deal that crystallizes the value of the stake controlled by the family at about $5 billion.
John Hess, who has been chief executive officer of Hess since 1995, is expected to take a seat on the Chevron board following the completion of the deal.
Hess Family Stake Valued at $5 Billion With Chevron Takeover bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
COMCAST AND UNITED WAY ANNOUNCE EXPANSION OF DIGITAL NAVIGATOR SUPPORT TO HELP CONNECT MORE GREATER PHILADELPHIA RESIDENTS TO THE INTERNET tmcnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tmcnet.com Daily Mail and Mail on Sunday newspapers.