Chevron announces it is moving headquarters from California to Houston, Texas

SAN RAMON, California (KTRK) -- Chevron announced Friday morning it is moving its headquarters from San Ramon to Houston, Texas.

The oil major says there won't be much immediate relocation and expects all corporate functions to migrate to Houston over the next five years.

"Chevron Chairman and CEO, Mike Wirth, and Vice Chairman, Mark Nelson, will move to Houston before the end of 2024 to co-locate with other senior leaders and enable better collaboration and engagement with executives, employees, and business partners," the company said in a statement.

Positions for its California operations will remain in San Ramon.

Chevron currently has about 2,000 employees in San Ramon and 7,000 employees in the Houston area.

The company also announced several leadership changes, including several corporate retirements. Among them is Executive Vice President Nigel Hearne, who is retiring after 35 years of service to the company.