Chevron kicked off the second-quarter earnings report season with the announcement of several “senior leadership changes” and one big surprise: waiving the mandatory retirement age of 65, allowing Mike Wirth, chief executive since 2018, to carry on in the top spot indefinitely.

Wirth has more than two years to go before he reaches that milestone, suggesting that the California-based company’s board was eager to stave off any speculation about succession while Chevron gears up for several start-ups in the deep-water Gulf of Mexico, carries out expansion projects at its giant Tengiz and Korolev assets in Kazakhstan, builds on its East Mediterranean production and ramps up oil and gas output in North American onshore plays.