Summary
Occidental Petroleum Corporation (OXY) announced on April 3, 2020, a significant leadership change with the appointment of Robert Peterson as its new Senior Vice President and Chief Financial Officer (CFO). This appointment marks a shift for Mr. Peterson, who previously held the position of Senior Vice President, Permian EOR. He will be taking over CFO responsibilities from Cedric Burgher, who is transitioning to a different role within the company. Mr. Peterson brings a wealth of experience to the CFO role, with a strong background in both the company's chemical subsidiary (OxyChem) and its core oil and gas operations, particularly in the Permian region. His prior roles highlight a track record of improving profitability and managing significant capital investments, which should be valuable as OXY navigates the challenging market conditions at the time of the filing. The filing also includes standard disclosures regarding Mr. Peterson's background and confirms no related-party transactions.
Key Highlights
- 1Robert Peterson appointed as Senior Vice President and Chief Financial Officer (CFO) effective April 3, 2020.
- 2Cedric Burgher will transition to another role within Occidental Petroleum.
- 3Mr. Peterson has prior experience as President of OxyChem and in various leadership roles within Occidental Oil and Gas, including a focus on the Permian region.
- 4His background includes instrumental work in completing major capital investments and improving business profitability.
- 5Mr. Peterson holds a Bachelor's degree in Mechanical Engineering and an MBA in Corporate Finance.
- 6No family relationships or reportable related-party transactions were disclosed for Mr. Peterson.
- 7The filing also references OXY's preliminary proxy statement for its 2020 Annual Meeting, urging investors to review it for further important information.