Chevron to move headquarters from Northern California to Houston, Texas

SAN RAMON, Calif. -- Chevron announced Friday morning it is moving its headquarters from Northern California to Houston, Texas.

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

Positions for its California operations will remain in San Ramon, located in the Bay Area.

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 this morning.

A Chevron refinery spokesman says the corporate move from San Ramon to Texas will have "no impact " on their Richmond, California refinery.