8-KLeadership ChangesExhibits & Filings

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report, Executive Changes (Apr 3, 2020)

Filed April 3, 2020For Securities:OXYOXY-WT

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.

Frequently Asked Questions

Robert Peterson has been appointed as the new Senior Vice President and Chief Financial Officer (CFO) of Occidental Petroleum, effective April 3, 2020.

Robert Peterson has extensive experience within Occidental Petroleum. He most recently served as Senior Vice President, Permian EOR, and previously held roles such as Vice President, Permian Strategy, and President of OxyChem. His experience includes developing strategies for the Permian business, managing capital investments, and improving profitability.

Cedric Burgher will be transitioning to another role within Occidental Petroleum.

The filing states that Robert Peterson has no family relationships with any directors or executive officers, and there are no arrangements or understandings pursuant to which he was appointed. Furthermore, there are no reportable related-party transactions involving Mr. Peterson.