Chevron named a new chief financial officer and reshuffled three other senior roles at its Springwoods Village headquarters. All four changes take effect Jan. 1, 2027.

The company, which employs thousands at its CityPlace campus along the I-45 corridor, announced the moves Monday, Oct. 5. The changes were approved following a Sept. 30 board of directors meeting, according to GuruFocus, which cited SEC filings.

Eimear Bonner, Chevron's current CFO, will move to president of Oil, Products & Gas, overseeing operations across the company's entire value chain. She replaces Mark Nelson in that role.

Nelson, currently vice chairman and executive vice president of Oil, Products & Gas, will keep his vice chairman title but shift to leading strategy and business development.

Jeff Gustavson, 54, will step into the CFO seat Bonner vacates. Gustavson has led Chevron's New Energies division since August 2021 and joined the company in 1999. His career has spanned finance, mergers and acquisitions, corporate planning, and upstream operations across the United States, Canada, the United Kingdom and Venezuela, according to GuruFocus.

Chevron's board approved a $1 million annual base salary for Gustavson as incoming CFO, with a target bonus of 110% under the company's incentive plan, GuruFocus reported.

Brent Gros, currently president of Chevron's offshore division, will take over New Energies from Gustavson. That unit covers hydrogen, power, carbon capture, offsets and biofuels. Gros will also oversee Chevron's artificial intelligence strategy.

Chairman and CEO Mike Wirth said the four executives "bring a combination of operational expertise, strategic perspective and a proven ability to deliver results across our business."

Chevron relocated its corporate headquarters from San Ramon, California, to Houston in 2024. Wirth and Nelson both moved to the Houston area before the end of that year, according to a Chevron press release at the time. The company reported roughly 7,000 Houston-area employees as of August 2024.

The new leadership structure takes hold at the start of 2027.