Hess Corp. Chairman Mark Williams has retired effective immediately for health reasons. Board member James Quigley has been named to replace him. Williams, who joined Royal Dutch Shell plc in 1979, was downstream director from 2009 to 2012. He joined Hess as nonexecutive chairman in 2013 (see Daily GPI, March 5, 2013). Quigley, on behalf of CEO John Hess, said with Williams as chair, the independent had "taken important steps together to preserve our financial strength and build our portfolio of high quality assets, especially in the current oil price environment." In 2012 Quigley was named trustee of the International Financial Reporting Standards Foundation, the oversight body of the International Accounting Standards Board. Quigley also is on the boards of Wells Fargo and Merrimack Pharmaceuticals.