FTC Bars Hess CEO From Joining Chevron Board in Merger

The Federal Trade Commission has said Hess Corp’s CEO must not join the board of Chevron if it is to give the green light to the merger of the two. Reuters reported that the regulator did not give reasons for its demand. Earlier in the week, media reported, citing unnamed sources, that the FTC was set to approve the deal, although its finalization depends on the outcome of an arbitration case brought against Chevron and Hess by the latter’s partner in Guyana, Exxon. Chevron announced its plan to acquire Hess Corp. for $53 billion last…