Chevron’s new company headquarters is heading south to Houston, Texas, after previously being based out of San Ramon, California. The migration from San Ramon to Houston is expected to take about five years.

According to the company: “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.”

Positions that support Chevron’s California operations will remain in San Ramon. The company said that there are roughly 7,000 employees currently working in the Houston area, and 2,000 are currently based out of San Ramon.

The announcement of the new HQ was also accompanied by several leadership change announcements that will be effective for the company over the next several months.

Mark Nelson, Chevron’s vice chairman, will take responsibility for Oil, Products and Gas. Michelle Green, vice president, Human Resources, Oil, Products and Gas, will become vice president and chief human resources officer. The company appointed Andy Walz, currently president, America’s Products, to president, Downstream, Midstream and Chemicals.

This announcement comes at a time when major oil companies have begun to reemerge on the retail landscape, reversing a decade-plus trend that reduced their share of the market to less than 0.5% by 2017.