Occidental Petroleum Names Vicki Hollub As President And CEO

Occidental Petroleum Corporation

revealed that its Board has selected Vicki Hollub as its President and Chief Executive Officer. According to the company, he would complete the previously announced succession plan. Occidental Petroleum said that Hollub succeeded Stephen I. Chazen, who resigned as CEO following the company's annual meeting of the shareholders. She was elected to the Board of Directors in December last year. The company's Chairman, Eugene Batchelder, said that "Vicki is a proven and respected leader with extensive knowledge and command of Occidental's business, and she has the strategic vision necessary to make Occidental the top performing and safest company in our industry. The Board looks forward to working with Vicki in her new role to enhance value for our shareholders." He added further that "We are also grateful for the leadership and vision Steve Chazen has provided Occidental as CEO and a member of the senior management team for the past two decades, and are pleased that he will remain on the Board. Steve has led the transformation of Occidental into a more focused company with a strong balance sheet, making it a formidable industry competitor." Shares of the company traded 0.16% higher on Friday.