Chevron on Sunday said the company’s Chief Financial Officer Pierre Breber will retire next year, and named long-time company veteran Eimear Bonner, chief technology officer of Chevron Technical Center, as his successor.

Separately, the company also said it waived the mandatory retirement age requirement for its Chief Executive Officer Mike Wirth.

Bonner, 49, has been with Chevron for over 24 years. Bonner will report to Chevron’s chief’s executive in her new role.

The upcoming chief executive will take the position starting March 1, 2024, the company said in a statement.

The second-largest U.S. oil firm also reported preliminary second-quarter earnings results. Net profit fell to $5.8 billion, or $3.08 a share. It was not immediately clear how that compared with analysts’ estimates.

Chevron noted, however, that the financial results reported Sunday don’t represent a comprehensive statement of its second-quarter results and said it will issue its complete second-quarter earnings figures on Friday, July 28.

Chevron said it issued record shareholder distributions of $7.2 billion in the latest quarter, including dividends of $2.8 billion and share repurchases of $4.4 billion.

Chevron also produced 772,000 barrels of oil equivalent at the Permian Basin, another record quarter. The company said that early 2023 Permian well performance in company-operated assets is on track with its full-year guidance.