UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 30, 2010
OCCIDENTAL PETROLEUM CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware
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1-9210
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95-4035997
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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10889 Wilshire Boulevard
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Los Angeles, California
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90024
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(Address of principal executive offices)
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(ZIP code)
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Registrant’s telephone number, including area code:
(310) 208-8800
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 5 – Corporate Governance and Management
Item 5.02(c). Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On July 30, 2010, the Board of Directors of Occidental Petroleum Corporation (“Occidental”) named Stephen I. Chazen, 63, to the position of President and Chief Operating Officer, effective immediately. Mr. Chazen has served as President and Chief Financial Officer since 2007 and as Chief Financial Officer since 1999. Mr. Chazen will continue to serve as Chief Financial Officer until August 15. James M. Lienert, 58, was named to the position of Executive Vice President and Chief Financial Officer, effective August 15. Mr. Lienert has served as Executive Vice President, Finance and Planning since 2006.
Occidental’s press releases announcing the election of Mr. Chazen and Mr. Lienert are attached hereto as Exhibits 99.1 and 99.2 and are incorporated into this Item 5.02 by reference.
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Item 9.01.
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Financial Statements and Exhibits
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(d)
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Exhibits
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99.1
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Press release dated August 2, 2010 (Chazen).
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99.2
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Press release dated August 2, 2010 (Lienert).
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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OCCIDENTAL PETROLEUM CORPORATION
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(Registrant)
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DATE: August 3, 2010
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/s/ ROY PINECI
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Roy Pineci, Vice President, Controller
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and Principal Accounting Officer
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EXHIBIT INDEX
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99.1
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Press release dated August 2, 2010 (Chazen).
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99.2
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Press release dated August 2, 2010 (Lienert).
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EXHIBIT 99.1
For Immediate Release: August 2, 2010
Occidental Petroleum Elects Stephen I. Chazen President and
Chief Operating Officer
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Expanded responsibilities for 16-year Oxy executive
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LOS ANGELES, August 2, 2010 ¾ The Board of Directors of Occidental Petroleum Corporation (NYSE:OXY) today announced that it has elected Stephen I. Chazen as President and Chief Operating Officer. Mr. Chazen has served as President and Chief Financial Officer since 2007.
Dr. Ray R. Irani, Chairman and Chief Executive Officer of Occidental said, “I congratulate Steve on his well-deserved promotion. Since joining Oxy 16 years ago, the two of us have worked closely to position the company for continued profitable growth and to deliver increasing value to shareholders. The Board of Directors looks forward to his continued contributions.”
Mr. Aziz D. Syriani, Lead Independent Director, commented, “Steve Chazen is a strong executive and leader. As we move forward, the Board of Directors will work closely with Ray and Steve as we continue to build the company and its management team.”
“I appreciate the confidence put in me by the Board and Ray. I look forward to working as a team with Ray and the Board of Directors as we continue to build Occidental, develop our workforce and deliver top quartile shareholder returns,” said Mr. Chazen.
Mr. Chazen, 63, has 30 years experience in the oil and gas industry. He joined Occidental in 1994 as Executive Vice President – Corporate Development. He was named Chief Financial Officer in 1999 and elected President and Chief Financial Officer in 2007. He was elected to the Board of Directors in 2010. Prior to joining Occidental, Mr. Chazen was a managing director in the investment banking group of Merrill Lynch & Co.
About Oxy
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company,
based on equity market capitalization. Oxy's wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of social responsibility in all of the company's worldwide operations.
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Contacts:
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Richard S. Kline (media)
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richard_kline@oxy.com
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310-443-6249
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or
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Chris Stavros (investors)
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chris_stavros@oxy.com
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212-603-8184
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or
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On the web: www.oxy.com
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Page 2 of 2
EXHIBIT 99.2
For Immediate Release: August 2, 2010
Occidental Petroleum Names James M. Lienert Executive Vice President and
Chief Financial Officer
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Previously Served as Oxy Executive Vice President Finance and Planning
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Reports to Steve Chazen, Oxy President and Chief Operating Officer
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LOS ANGELES, July 27, 2010 -- Occidental Petroleum Corporation (NYSE:OXY) announced today that James M. Lienert has been named Executive Vice President and Chief Financial Officer, effective August 15.
Mr. Lienert reports to Oxy President and Chief Operating officer Stephen I. Chazen who has served as CFO since 1999.
“Jim Lienert, our new Chief Financial Officer, has held a series of positions with the company that have given him a deep understanding of both the financial and operational aspects of our business. Jim is a person of high personal integrity. I join the Board of Directors in congratulating him on this well deserved promotion,” said Mr. Chazen.
Mr. Lienert served as Occidental Petroleum Corporation Executive Vice President, Finance and Planning since 2006. Reporting to him in the role was the accounting function, as well as supply chain, information technology and planning.
Previously, Mr. Lienert served as President of Occidental Chemical Corporation (OxyChem). He joined OxyChem in 1974 and held a series of increasingly senior positions, culminating in his appointment as OxyChem President in February 2004.
Mr. Lienert holds a Bachelor of Science in Accounting and an MBA from the State University of New York at Buffalo. He is a Certified Public Accountant in the state of Texas.
About Oxy
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization. Oxy's wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed to safeguarding the environment, protecting the safety and health of employees and neighboring
communities and upholding high standards of social responsibility in all of the company's worldwide operations.
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Contacts:
Occidental Petroleum Corporation
Media
Richard S. Kline
richard_kline@oxy.com
310-443-6249
Or
Investors
Chris Stavros
chris_stavros@oxy.com
212-603-8184
Or on the web:
www.oxy.com
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