I'm guessing 5yrs or less...even though they keep claiming we're a California company with history
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I wouldn't be surprised to see a shareholder proposal in our proxy pushing for HQ move out of CA. Too expensive and inefficient to continue to stay in that anti-business state. Shareholders will eventually say enough.
Just thinking out loud, is Chevron the only major (or even just sizeable oil company) with a significant California presence? Newsome will continue to pressure us as persona non grata. I've always said that SR will be maintained until the current group of executive management can retire in California. +/- 5 years is a very good bet. EB can claim this is the "new Chevron", but will they move that SR hall of portraits of all the former (male) CEOs to Houston, or will EB put them in storage as a diversity victory?
@bkh, read beyond the headline: "...The study notes recent laws, including outlawing diversity and inclusion offices in higher education institutions, banning healthcare for transgender minors and the state's strict abortion ban as a few examples." The article is a thinly veiled political agenda piece. What the headline should read is, "Texas is the worst state for liberals to live in."
Now now, does anyone think the elite want to go to Houston! Not gonna happen….ever! They love Cali and that weather in “Ramon”. They shudder and get nauseous at the thought of melting in Houston.
EB will take over when she is 55. That is when MW will retire. The Houston move will come much sooner as MW wants to claim credit for savings and escape California before the state gets any more of his earnings, stock sales, or, heaven forbid, pension lump sum.
I think CVX will consolidate in HOU just before Mike Wirth retires (makes it easier for EB not to be the catalyst behind this change).
With the waiver of MW's formerly mandatory retirement at 65, he will work, at a minimum 3 more years, but likely 5-6 more years. I'd set the over/under at 6 years for betting purposes (does DraftKings offer a betting line on this ?)
It will stay as long as MW is in power. The new lease is short term. If NH is next in line, it might stay. If EB or JG take over, it will move.
https://www.chron.com/news/houston-texas/article/texas-worst-state-work-18204395.php