Occidental Petroleum Corporation declares that its Board of Directors has promoted Vicki A. Hollub to President and Chief Operating Officer and appointed her to the Board. As part of the previously disclosed succession plan, the Board also announced that Ms. Hollub will succeed Stephen I. Chazen as Occidental's Chief Executive Officer effective at the company's 2016 annual shareholder meeting. She was appointed Senior Executive Vice President of Occidental and President - Oxy Oil and Gas, earlier this year.
'The Board selected Vicki following a thorough succession planning process. She is a proven leader who has demonstrated success at every level during her 35 years with Occidental. She has the full trust and confidence of the Board, and we look forward to working with her to continue to build value for Occidental's shareholders,' said Eugene L. Batchelder, Chairman of Occidental's Board of Directors.