Original Article on The Epoch Times By Jana J. Pruet
Chevron Corporation announced Friday its plans to relocate its headquarters from California to Texas before the end of the year.
“The company expects all corporate functions to migrate to Houston over the next five years,” the company said. “Positions in support of the company’s California operations will remain in San Ramon.”
Mr. Wirth and Mr. Nelson are expected to move before Jan. 1, 2025. Chevron already has about 7,000 employees in Houston, compared to approximately 2,000 in San Ramon.
Along with its headquarters move, the company also announced several leadership changes.
Nigel Hearne, executive vice president of oil production, is retiring after 35 years with the company.
He will be succeeded by Chevron Vice Chairman Mark Nelson beginning Oct. 1.
Vice President and Chief Human Resources Officer Rhonda Morris will retire after more than 30 years with Chevron. Michelle Green, currently the vice president of human resources of oil production, will succeed Ms. Morris beginning Jan. 1, 2025.
Midstream Vice President Colin Parfitt is also retiring after nearly 30 years with Chevron. Andy Walz, president of America’s products, will take over the Midstream & Chemicals division on Oct. 1.
Missed Second-Quarter Earnings
Chevron reported second-quarter earnings on Friday, missing expectations and sending shares down 1.5 percent in premarket trading.
It reported adjusted earnings of $4.7 billion, or $2.55 per share, down from expectations of $2.93 per share.
