8-KLeadership ChangesRegulation FDExhibits & Filings

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report, Executive Changes (Dec 11, 2015)

Filed December 11, 2015For Securities:OXYOXY-WT

Summary

Occidental Petroleum Corporation (OXY) announced significant leadership changes on December 10, 2015, as detailed in their Form 8-K filing dated December 11, 2015. The most impactful news for investors is the promotion of Vicki A. Hollub to President and Chief Operating Officer, along with her immediate appointment to the Board of Directors. This move is part of a pre-announced succession plan, with Ms. Hollub slated to become CEO at the 2016 annual meeting, succeeding Stephen I. Chazen. Ms. Hollub brings extensive experience, with over 35 years in the oil and gas industry and a long tenure at Occidental since 1982. Her most recent role was Senior Executive Vice President and President of Oxy Oil and Gas. This transition signals continuity and a deep internal talent pool for leadership. Investors should note that there are no disclosed arrangements or related party transactions that would raise concerns regarding Ms. Hollub's appointment.

Key Highlights

  • 1Vicki A. Hollub appointed President and Chief Operating Officer, effective December 10, 2015.
  • 2Vicki A. Hollub appointed to the Board of Directors.
  • 3Vicki A. Hollub is set to succeed Stephen I. Chazen as CEO at the 2016 annual meeting.
  • 4Ms. Hollub has over 35 years of experience in the oil and gas sector.
  • 5Ms. Hollub has been an employee of Occidental since 1982, demonstrating internal career progression.
  • 6No related party transactions or undisclosed arrangements were reported concerning Ms. Hollub's appointment.

Frequently Asked Questions

Vicki A. Hollub has been promoted to President and Chief Operating Officer of Occidental Petroleum Corporation and appointed to the Board of Directors, effective December 10, 2015. She is also slated to become the Chief Executive Officer in 2016.

Ms. Hollub is scheduled to succeed Stephen I. Chazen as Chief Executive Officer of Occidental Petroleum Corporation at the company's 2016 annual meeting of stockholders.

Ms. Hollub has more than 35 years of experience in the oil and gas industry, holding various technical and leadership positions both domestically and internationally. She has been with Occidental since 1982 and has held numerous senior roles, including most recently as Senior Executive Vice President and President of Oxy Oil and Gas.

The filing states that there are no arrangements or understandings between Ms. Hollub and any other person concerning her selection as a director, and no reportable related party transactions involving her under Item 404(a) of Regulation S-K.