What is the main event reported in this 8-K filing?

The main event is the election of Stephen I. Chazen to the position of President and Chief Financial Officer of Occidental Petroleum Corporation, effective immediately as of December 13, 2007.

What is Mr. Chazen's previous role and tenure at Occidental?

Mr. Chazen has been the Chief Financial Officer of Occidental Petroleum Corporation since 1999.

Will Mr. Chazen's compensation change as a result of this promotion?

Yes, Mr. Chazen's annual base salary will be increased to $800,000, effective January 1, 2008.

Who remains in the top leadership positions at Occidental?

Dr. Ray R. Irani continues to serve as Chairman and Chief Executive Officer of Occidental Petroleum Corporation.

OXY/OXY-WT 8-K: Leadership Changes

Summary

Occidental Petroleum Corporation (OXY) announced a significant leadership change on December 14, 2007, with the election of Stephen I. Chazen as President and Chief Financial Officer, effective immediately. Mr. Chazen, who has served as CFO since 1999, will now assume a dual role, while Dr. Ray R. Irani continues as Chairman and CEO. This appointment positions Mr. Chazen for increased strategic influence within the company.

Key Highlights

1Stephen I. Chazen appointed President and Chief Financial Officer, effective December 13, 2007.
2Mr. Chazen previously held the position of Chief Financial Officer since 1999.
3Dr. Ray R. Irani remains Chairman and Chief Executive Officer.
4Mr. Chazen's annual base salary will increase to $800,000 effective January 1, 2008.
5This move indicates a potential succession plan or increased responsibility for Mr. Chazen.
6The press release announcing this change is attached as Exhibit 99.1.

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report, Executive Changes (Dec 14, 2007)

Summary

Key Highlights

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