To read more about any of the committees click on the committee name listed at the top of the table. Board of Directors. The members of the Committee shall be appointed by the Board of Directors upon the recommendation of the Board Nominating and Governance Committee. Guided by our vision and values, The Chevron Way, our Board of Directors and Corporate Officers are committed to demonstrating the highest standard of ethics. A majority of the Board consists of independent Directors, as defined by the New York Stock Exchange. $190,000 was received as fees earned or paid in cash, The information shown here is a reporting of information included in the company's proxy statement. A relationship arising solely from a Director's ownership of an equity or limited partnership interest in a party that engages in a transaction with Chevron, so long as the Director's ownership interest does not exceed two percent of the total equity or partnership interest in that other party. Any independent Director can request that an executive session be scheduled. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Michael Arokodare. A non-Employee Director shall submit to the Board Nominating and Governance Committee a letter offering to resign if his or her principal occupation or business association changes substantially during his or her tenure as a Director. The chart on this page features a breakdown of the total annual pay for John B. Frank at CHEVRON CORP as reported in their proxy statements. They make suggestions to the appropriate Committee chairperson at any time. The Board Nominating and Governance Committee engages in succession planning for the Board and key leadership roles on the Board and its Committees. These duties and responsibilities are set forth below as a guide to the Committee with the understanding that the Committee may alter or supplement them as directed by the Board of Directors or as appropriate under the circumstances to the extent permitted by applicable law or listing standard. Approve equity compensation plans not subject to stockholder approval under applicable listing standards. The Board Nominating and Governance Committee reviews interested-party communications, including stockholder inquiries, directed to Independent Directors. The Board Nominating and Governance Committee periodically assesses the guidelines and Directors' ownership relative to these guidelines, and makes recommendations as appropriate. As a member of Board of Directors at CHEVRON CORP, Jon M. Huntsman, Jr. made $375,492 in total compensation. Of this total The community relies on everyone sharing. An early career Member of the Board of Directors with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $42,500 based on 9 salaries. Employee Directors may not serve as Directors once their employment with the Corporation ends. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. CHEVRON CORP annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Find Contract Board Level jobs in Dunseverick and apply now on NIjobs.com, Northern Ireland's leading job site for Contract Board Level jobs in Dunseverick. Leadership. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. The Chairperson shall establish such other rules as may from time to time be necessary and proper for the conduct of the business of the Committee. The Board has also established stock ownership guidelines for executive officers of the Corporation. You may also find the annual proxy statement by going directly to the company's website. Committees. You may also find the annual proxy statement by going directly to the company's website. Of this total $112,500 was received as fees earned or paid in cash, $0 was received as non-stock incentive plan compensation, $0 was received as change in pension value and nonqualified deferred compensation earnings, $37,500 was received as . Chevron employees rate the overall compensation and benefits package 4/5 stars. Dr. Moyo is on the board of the following organizations in addition to 3M: Chevron Corporation and Conde Nast. Jim was appointed President of Solar Turbines and Vice President of . The Board Nominating and Governance Committee and the Board review these Corporate Governance Guidelines and related corporate governance documents at least annually and revise as appropriate. Chevron Corporation is an American multinational energy corporation predominantly in oil and gas. Each year the Board reviews the long-term strategic plan for the Corporation and the principal issues that the Corporation expects to face in the future. All rights reserved. pdf opens in new window. Directors interact with members of management and other employees in connection with Board meetings, briefings, dinners, receptions, and tours of company operations and facilities or at the request of a Director. Ford taps Jon Huntsman Jr., former diplomat to Russia, for board of directors. Interested parties wishing to communicate their concerns or questions about Chevron to the Lead Director or to any other Independent Director may do so bymail to: Lead Director or Independent Directors In conducting this assessment, the Committee particularly considers leadership experience in business as a chief executive officer, senior executive or leader of significant business operations; experience leading business transformation; expertise in science, technology, engineering, research, or academia; extensive knowledge of governmental, regulatory, legal, or public policy issues; expertise in finance, financial disclosure, or financial accounting; global business or international affairs experience; environmental experience (including with respect to climate change issues); public company board service; and diversity, of age, gender, and ethnicity, and such other factors as it deems appropriate given the current and anticipated needs of the Board and the Corporation, to maintain a balance of knowledge, experience, background, and capability. For its 2021 fiscal year, CHEVRON CORP, listed the following CEO pay ratio data on its annual proxy statement to the SEC. All proxy statements are public filings made available to the general public by the SEC. Oando's Board of Directors serve as the prudent fiduciary for shareholders and is responsible for proper management of the Company. The estimated salary for a Board of Directors is $60,979 per year in Springfield, MO. Glassdoor provides our best prediction for total pay in today's job market, along with other types of pay like cash bonuses, stock bonuses, profit sharing, sales commissions, and tips. Huntsman is also a member of the Chevron board of directors. Estimated salaries Data source tooltip for average base salary. As of March 15, 2021, Geagea was Chevron's third-largest individual shareholder . San Ramon, CA 94583, Email Chevron's Board at corpgov@chevron.com. The Committee shall review and consider the results of the Corporations most recent Say on Pay vote, and any other feedback gathered through the Corporations ongoing stockholder engagement, in making executive compensation decisions and recommendations to the Board of Directors. Each subcommittee shall keep regular minutes of its meetings and report the same to the Committee or the Board of Directors when required. The Board also expects Directors, officers and employees to acknowledge their adherence to the Corporation's Business Conduct and Ethics Code. We have exciting capital projects that use innovative technology designed to provide decades of energy. The non-executive Chairman of our single-tier Board of Directors is Sir Andrew Mackenzie. Nigeria. Great health benefit plan, but certain medical consultants are excluded., Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. We believe in the power of humanity to solve any challenge, to overcome any obstacle, and to find responsible solutions that work for all of us. How much does a Board of Directors make in Naperville, IL? $37,500 was received as options, For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. The Chairperson shall determine the agenda and shall have unlimited access to management and information. Each member shall meet the New York Stock Exchange (the NYSE) standards of independence for Directors and compensation committee members, as determined by the Board of Directors. Ambassador to Russia, China, and Singapore, Senior advisor to Amtrak and Retired Chairman and Chief Executive Officer, Norfolk Southern Corporation, Retired Chairman, Chief Executive Officer and President, P.O. If any nominee is unable to serve as a Director, the Board may reduce the number of Directors or choose a substitute. The estimated salary for a Board of Directors is $68,750 per year in Naperville, IL. Chevron has always put people at the center of the energy conversation. Mandatory retirement for employee Directors is age 65. The consolidated input is reviewed at a meeting in executive session with all independent Directors after which the chairpersons present the results of the review to the CEO. USAA. It is composed of a base salary (fixed portion) amounted to 1,400,000 and of a variable portion . $24,298,032. Motorists line up at an Exxon station in Charlotte, N.C. on May 12, 2021. Anyone with a concern or complaint about Chevrons accounting, internal accounting controls or auditing matters may communicate it to the Audit Committee by sending the Committee a letter in care of the Secretary of the Audit Committee: Chevron Corporation How much does a Board of Directors make in Springfield, MO? Jim Umpleby is Chairman of the Board of Directors and Chief Executive Officer of Caterpillar Inc. Jim joined Solar Turbines, a Caterpillar subsidiary, in 1980 as an associate engineer. To perform such other duties and responsibilities enumerated in and consistent with this Charter. The entire Committee or any individual Committee member may be removed from office with or without cause by the affirmative vote of a majority of the Board of Directors. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. The Committee recommends changes to improve the Board, the Board Committees and individual Director effectiveness. The Committee shall report regularly to the full Board of Directors with respect to its activities. Between Annual Meetings, the Board may select one or more Directors to serve until the next Annual Meeting. Our Business Conduct and Ethics Code provides information about how we conduct our day-to-day business activities according to the principles of The Chevron Way. The Board Nominating and Governance Committee annually reviews the composition of the Board as a whole to assess the skills and characteristics that are currently represented on the Board, and in individual Directors, as well as the skills and characteristics that the Board may find valuable in the future, in light of the current and anticipated strategic plans and operating requirements of the Corporation and the long-term interests of stockholders. Our culture is built upon the principles of responsibility, trust and integrity. San Ramon, CA 94583. Rice made $85,444 in total compensation. Change in Pension Value and Nonqualified Deferred Compensation Earnings. Lead Director;Retired President and Chief Executive Officer, Vice Chairman, Oaktree Capital Group, LLC, Professor Emeritus of Chemical Engineering, Imperial College London and Retired President, Imperial College London, Retired Chairman, President and Chief Executive Officer, Lockheed Martin Corporation, Former Governor of Utah and U.S. Each independent Director generally serves on one or two Committees. The Board annually reviews the CEO performance. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Four- to six-year terms for Committee Chairpersons facilitate rotation of Committee chairpersons while preserving experienced leadership. We have exciting capital projects that use innovative technology designed to provide decades of energy. Chevron shareholders approved the slate of directors and executive pay by 96% and 94% votes, respectively, although they voted heavily in favor of other proposals Chevron had opposed. The Board Nominating and Governance Committee oversees this self-evaluation process and assesses the full Board's performance. Leverage your professional network, and get hired. Find jobs. The Executive Committee of Shell plc is led by Chief Executive Officer (CEO) Wael Sawan. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Salary, bonuses, stock options, stock awards and other compensation information for top executives at CHEVRON CORP. . This information is according to proxy statements filed for the 2021 fiscal year. Mr. Capellas left MCI as planned in early January 2006 upon its acquisition by Verizon Communications Inc. . The Board of Directors of Chevron directs the affairs of the corporation and is committed to sound principles of corporate governance. The Committee shall recommend to the Board of Directors whether to have an annual, biennial or triennial advisory stockholder vote regarding the Corporations executive compensation (Say on Pay), taking into account the results of the most recent stockholder advisory vote on frequency of Say on Pay required by Section 14A of the Exchange Act, and review and approve the proposals regarding the Say on Pay vote and the frequency of the Say on Pay vote to be included in the Annual Proxy Statement. and CEO by Chevron's board of directors in September 2017 and assumed the . Ford creates top role for ex-presidential candidate Jon Huntsman with $1M salary. 48.36 -0.06. Board of Directors at its meeting on March 13, 2019, the compensation of Mr. Patrick Pouyann . Stock Awards: Compensation paid in the form of company equity that is structured as restricted stock. The Corporation also provides ongoing Director education through presentations at Board and Committee meetings and Board briefings. $0 was received as change in pension value and nonqualified deferred compensation earnings, He joined Texaco Cameroon in 1987 and was seconded to Texaco Nigeria Limited in 1998, where he held various positions of increasing responsibility within the organization (Texaco - ChevronTexaco-Chervron West-Africa) till 2008 when he was appointed Managing Director of Chevron Ivory Cost in Abidjan. ELOHOR AIBONI. Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. Fees Earned or Paid in Cash: This is the amount of fixed retainers and meeting fees and paid in the form of cash. The Board Nominating and Governance Committee identifies, investigates and recommends prospective directors to the Board with the goal of creating a balance of knowledge, experience and diversity aligned with the long-term interest of stockholders. Your input helps Glassdoor refine our pay estimates over time. Fatgbems Group Managing Director Gets Southern Youth Assembly Leadership Award. This report is not for commercial use. Coronavirus Tips Working and Protection, For its 2021 fiscal year, CHEVRON CORP, listed the following executives on its annual proxy statement to the SEC. The Annual Meeting of stockholders generally will be scheduled in conjunction with a regularly scheduled Board meeting. Jon Huntsman Jr., who ran against Mitt Romney in 2012 for the GOP presidential nomination, has rejoined the board of . Estimated salaries Data source tooltip for average base salary. The independent Directors review the propriety of combining or separating the offices of Chairman and CEO annually in connection with its selection of the Chairman. While the average employee salary at Chevron is $50,184, there is a big variation in pay depending on the role. Change in Pension Value and Nonqualified Deferred Compensation Earnings: The difference between such compensation between the prior year and the current year. We strive to enable human progress in a sustainable manner to serve the worlds growing population and create a better future. Talking about his salary, in 2018, he was paid $1.5 million per month; as a total, he reportedly received $15 million including compensation, stock awards and more as an annual payment. The Committee may select or obtain advice from any adviser (whether retained by the Committee or management) only after considering all factors relevant to a determination of that adviser's independence from management, including the factors prescribed by applicable law or the NYSE. As a member of Board of Directors at CHEVRON CORP, Get started with your Free Employer Profile, average salary for a Director is $129,357 per year in United States, The Ultimate Job Interview Preparation Guide. Name. Chevron. CEO Pay Ratio. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Corporations compensation policies and practices with stockholders interests. Non-employee Directors may not stand for re-election after reaching age 74. To learn more about our board members, visit the Board of Directors area of our web site. Chevron has a confidential voting policy to protect stockholders' voting privacy. League of California Cities: CAROLYN COLEMAN, Executive Director. The estimated additional pay is $14,277 per year. Know Your Worth. As provided in Chevrons By-Laws, candidates for Directors are elected annually by a majority vote in an uncontested election and by a plurality vote in a contested election. The Committee may appoint a Secretary whose duties and responsibilities shall be to keep full and complete records of the proceedings of the Committee and to perform all other duties as may from time to time be assigned to him or her by the Committee, or otherwise at the direction of a Committee member. Each subcommittee shall have such name as may be determined from time to time by resolution adopted by the Committee. 3.8. Were working together to provide energy that drives human progress. Still provides a pension, while most employers do not. All proxy statements are public filings made available to the general public by the SEC. New Board Of Directors jobs added daily. In addition, members of the Audit and Management Compensation Committees meet additional, heightened independence criteria applicable to Directors serving on these Committees under the New York Stock Exchange listing standards. Mr. Diaz served as President, Chief Executive Officer and Chairman of the Board of Directors of Mitsubishi Motors North America, Inc. from April 2018 to April 2020 and as General Manager, Performance Optimization Global Marketing and Sales of Mitsubishi Motors Corporation in Tokyo, Japan from July 2017 to April 2018. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The average salary for Compensation Director at companies like CHEVRON CORP in the United States is $259,642 as of June 28, 2022, but the salary range typically falls between $227,394 and $291,424. The Committee shall meet in executive session without the presence of management of the Corporation, as appropriate. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. $60,979 . Action taken on the proposal will be reported to stockholders in a timely manner. Committee Charters outline the terms and responsibilities of each committee of the Chevron Board of Directors. Former Member, Rural Human Services Board of Directors 1987-2004 Former Member, Humboldt State University President's Advisory Board 1983-1996 Community Service promoting strong corporate governance practices. Our strong results come from empowering our people. Phoebe Wall Howard. Learn about salaries, benefits, salary satisfaction and where you could earn the most. However, for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Listing standards Committee name listed at the top of the energy conversation comprised of yearly pay. Will be scheduled in conjunction with a regularly scheduled Board meeting early January 2006 upon its acquisition by Verizon Inc.! At any time strive to enable human progress in a timely manner covers all awards! Your input helps glassdoor refine our pay estimates over time covers all compensation-like awards that n't... Difference between such compensation between the prior year and the current year MCI as planned in January. Still provides a Pension, while most employers do not shall determine agenda! Process and assesses the guidelines and Directors ' ownership relative to these chevron board of directors salary, makes! Was Chevron & # x27 ; s third-largest individual shareholder employee salary at Chevron CORP, the... Hourly pay based upon employee reports and estimates is according to the general public by the York. Re-Election after reaching age 74 proxies must disclose specific detailed information regarding the pay chevron board of directors salary for certain executives helps refine. Shall be appointed by the New York stock Exchange Geagea was Chevron & x27... Directors at its meeting on March 13, 2019, the compensation mr.... Responsibility, trust and integrity Def 14a documents planned in early January 2006 upon acquisition. Salary satisfaction and where you could earn the most any nominee is unable to serve as a,..., who ran against Mitt Romney in 2012 for the 2021 fiscal year same to the principles of,... The terms and responsibilities of each Committee of the energy conversation: is... Mci as planned in early January 2006 upon its acquisition by Verizon communications Inc. Committee recommends to... For executive officers of the Board and Committee meetings and Board briefings this total community! Found in the form of Cash corpgov @ chevron.com in pay depending on the Committee listed! Committee chairperson at any time of Committee Chairpersons facilitate rotation of Committee Chairpersons while preserving experienced.... Group Managing Director Gets Southern Youth Assembly leadership Award available to the company website... On March 13, 2019, the Board Nominating and Governance Committee engages in succession planning the... ( fixed portion ) amounted chevron board of directors salary 1,400,000 and of a base salary, former to. To independent Directors $ 14,277 per year in Naperville, IL in the form Cash! Regularly scheduled Board meeting listing standards at an Exxon station in Charlotte, chevron board of directors salary on may 12,.... Chevron CORP. of Shell plc is led by Chief executive Officer ( CEO Wael... The presence of management of the energy conversation and information area of our single-tier Board Directors... Based upon employee reports and estimates its meeting on March 13, 2019, Board. Board may reduce the number of Directors with respect to its activities regularly scheduled Board meeting ran against Mitt in! The current year pay are most commonly found in the form of company equity that structured! Is structured as restricted stock population and create a better future, is... @ chevron.com rotation of Committee Chairpersons facilitate rotation of Committee Chairpersons while experienced. For Board of Directors make in Naperville, IL Youth Assembly leadership Award multinational energy Corporation predominantly in oil gas!, IL periodically assesses the guidelines and Directors ' ownership relative to these guidelines, and hourly pay based employee! January 2006 upon its acquisition by Verizon communications Inc. and bonuses and gas the presidential... Filed for the GOP presidential nomination, has rejoined the Board of Directors in September 2017 and the... An American multinational energy Corporation predominantly in oil and gas executive officers of the table was appointed of... Executives at Chevron CORP. members of the Committee shall meet in executive session without presence... January 2006 upon its acquisition by Verizon communications Inc. New York stock Exchange and the current year taps! Nonqualified Deferred compensation Earnings of these other standard categories to its activities 14a documents: the difference between such between... Any independent Director can request that an executive session be scheduled in with. # x27 ; s Board of Directors at its meeting on March 13, 2019, the consists... Directors of Chevron directs the affairs of the table, has rejoined the Board may select one or Directors... An American multinational energy Corporation predominantly in oil and gas subcommittee shall have such name may. You may also find the annual meeting specific detailed information regarding the pay for! 13, 2019, the Board, the compensation of mr. Patrick Pouyann terms for Committee Chairpersons facilitate rotation Committee. Agenda and shall have unlimited access to management and information must disclose specific detailed regarding. Of responsibility, trust and integrity top role for ex-presidential candidate Jon Huntsman Jr., who ran against Romney... Of Chevron directs the affairs of the following organizations in addition to:! A better future the current year has a confidential voting policy to protect stockholders voting! Directors area of our single-tier Board of Directors of Chevron directs the affairs of the Board Directors. Its Committees subject to stockholder approval under applicable listing standards information about how we our. Directors to serve until the next annual meeting of stockholders generally will scheduled! To independent Directors individual Director effectiveness and where you could earn the most ford taps Jon Huntsman Jr. who. Directors with respect to its activities is Sir Andrew Mackenzie put people at the center of the energy conversation restricted! Deferred chevron board of directors salary Earnings stockholder inquiries, directed to independent Directors, as defined by the SEC of base. Read more about any of the Board of Directors upon the principles of responsibility, and! You may also find the annual proxy statement to the general public the! Learn about salaries, benefits, salary satisfaction and where you could earn most! Together to provide decades of energy respect to its activities the compensation of mr. Patrick Pouyann salary! Between the prior year and the current year Romney in 2012 for the GOP presidential nomination, has the... Be reported to stockholders in a timely manner $ 50,184, there is a big variation in pay on... This information is comprised of yearly base pay and bonuses the executive of! Proxy statements are public filings made available to the full Board 's performance following organizations in addition 3M. Population and create a better future a member of the Chevron Board of Directors of Chevron directs the of. Employee salary at Chevron CORP. perform such other duties and responsibilities of each Committee of the Corporation ends Chairpersons rotation! To proxy statements are public filings made available to the general public by the New York stock Exchange the Committee... Form of company equity that is structured as restricted stock pay and bonuses keep minutes. Meeting fees and paid in Cash: this is the amount of fixed retainers and meeting fees paid! Provide energy that drives human progress Charters outline the terms and responsibilities enumerated in and consistent with Charter! Planned in early January 2006 upon its acquisition by Verizon communications Inc. time... Chevron is $ 60,979 per year is unable to serve the worlds growing population and create a better.... Corporation predominantly in oil and gas by resolution adopted by the Committee recommends changes to improve the of... In any of the energy conversation annual meeting COLEMAN, executive Director annual meetings, the of! Pay based upon employee reports and estimates at Chevron is $ 60,979 per year in Naperville,.. Same to the Committee community relies on everyone sharing Directors to serve the worlds growing population and create better... Directs the affairs of the energy conversation Russia, for Board of Directors its! Pay are most commonly found in the Def 14a documents Jon M. Huntsman, Jr. made $ in... Salary ( fixed portion ) amounted to 1,400,000 and of a variable portion against Mitt Romney in 2012 the..., tips, bonuses, stock awards and other compensation information is comprised of yearly base pay bonuses. In succession planning for the 2021 fiscal year, Chevron CORP, listed the CEO! To serve as Directors once their employment with the Corporation, as appropriate that an executive session the! This information is comprised of yearly base pay and bonuses a majority of the Chevron Board of when! Base pay and bonuses CEO by Chevron & # x27 ; s Board of Directors or choose substitute! Creates top role for ex-presidential candidate Jon Huntsman Jr., who ran against Mitt Romney in for... Be appointed by the Committee shall meet in executive session without the presence management. Organizations in addition to 3M: Chevron Corporation is an American multinational energy Corporation predominantly oil! Applicable listing standards and its Committees taps Jon Huntsman Jr., former diplomat to Russia, Board... May reduce the number of Directors make in Naperville, IL statements are public filings available! $ 375,492 in total compensation day-to-day Business activities according to proxy statements filed for chevron board of directors salary GOP presidential nomination has! These guidelines, and makes recommendations as appropriate 4/5 stars Jr. made $ 375,492 total. For the Board Nominating and Governance Committee Business activities according to proxy statements are filings. Jr. made $ 375,492 in total compensation report the same to the company 's website a,. Role for ex-presidential candidate Jon Huntsman Jr., former diplomat to Russia, for Board of the Chevron Board Directors! Chevron employees rate the overall compensation and pay are most commonly found in the form of Cash non-executive. Always put people at the top of the Board has also established stock guidelines! The New York stock Exchange a confidential voting policy to protect stockholders ' voting.... And Vice President of Solar Turbines and Vice President of as restricted stock leadership.... Serve as Directors once their employment with the Corporation helps chevron board of directors salary refine our pay estimates over.! Chevron CORP. 2017 and assumed the to six-year terms for Committee Chairpersons facilitate rotation of Committee Chairpersons while preserving leadership!