Chevron Ditches California for Texas, Joining Exxon in Abandoning Regulatory 'Obstacles'

Chevron is moving on. The oil giant announced Friday its headquarters will relocate from California to Texas by year-end. In a press release, Chevron revealed that Houston will be its new home, with Chairman and CEO Mike Wirth, and other senior leaders, making the move to facilitate the transition.

"...minimum immediate relocation impacts." — Chevron, referring to its San Ramon employees.

The approximately 2,000 employees in San Ramon, Chevron's HQ since 2001, will mostly stay put, with only gradual changes over the next five years. Meanwhile, Chevron's 7,000-strong workforce in Houston just got bigger.

Leadership Changes and California's Fossil Fuel Decline

The move to Texas comes as California shifts away from fossil fuels. Chevron, following Exxon Mobil, is reducing its California assets amidst regulatory challenges. The state, once known for its booming oil industry, is moving on from fossil fuels, and these companies are missing out on a combined $5 billion in assets, reports Reuters.

Chevron also announced several leadership changes, effective October 1:

• Retirement of Executive Vice President of Oil, Products & Gas, Nigel Hearne, after 35 years. Vice Chairman Mark Nelson steps up.
• Vice President of Midstream & Chemicals, Colin Parfitt, retires after 29 years. Replaced by Andy Walz, current President of America's Products.
• Retirement of VP and Chief Human Resources Officer, Rhonda Morris, after 31 years. Michelle Green, current VP of HR, succeeds Morris on Jan 1, 2025.