OXY-WT · Occidental Petroleum Corporation

Occidental Petroleum Corporation's announcement of CEO Vicki Hollub's retirement effective June 1, 2026, marks a significant leadership transition planned as part of management succession. Hollub, who has led since 2016, will remain on the Board, providing continuity amid her praised transformation of the company's portfolio and technical expertise. Richard A. Jackson, internally promoted from Senior Vice President and COO since October 2025, brings over 25 years of oil and gas experience, including key roles in U.S. Onshore Resources and Carbon Management. His compensation package, featuring a $1.4 million base salary, 150% target incentive, and $6 million in RSUs vesting over three years, aligns incentives with long-term performance. No family relationships or related party transactions are involved. Concurrently, the 2026 Annual Meeting results show strong shareholder support, with all ten director nominees elected at high margins (96.66%-99.18% for), executive pay approved at 94.34%, and KPMG ratification at 97.70%, signaling alignment and stability for investors during this CEO change.