Chevron Shareholders Reject Splitting Chair,CEO Roles

Chevron Corp shareholders rejected a proposal on Wednesday to split the roles of chairman and chief executive, both currently held by John Watson.

About 81 percent of the 1.5 billion shares cast at the company's annual meeting in Midland, Texas, voted against the proposal, which was sponsored by the Unitarian Universalist Association.

Chevron's shareholders also rejected a non-binding say on executive compensation, as well as proposals that would have required the company to disclose more information on its fracking operations and all corporate donations in excess of $5,000.