Under Ecuadorian law, Chevron doesn't have to pay any judgment until after an initial appeal, which could take months.

WSJ: Ecuador Court Orders Chevron to Pay

That's "eligible spending, " which, surprisingly, doesn't include fuel purchases at a Chevron, Texaco or any other gas station.

WSJ: Gas Credit Cards Offer Few Rewards

But the most important thing about Chevron veteran Patricia A. Woertz isn't her gender--it's her lineage.

FORBES: ADM Steps Outside

The only problem: foreign companies that compete against U.S. companies, such as state-owned oil giants, aren't subject to the SEC's regulatory arm if they don't do business in the U.S. That could put American oil companies like ExxonMobil, ConocoPhillips and Chevron at a competitive disadvantage to their foreign counterparts, oil advocates say.

FORBES: Magazine Article