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): December 10, 2015
Occidental Petroleum Corporation
(Exact Name of Registrant as Specified in Charter)
| Delaware | 1-9210 | 95-4035997 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 5 Greenway Plaza, Suite 110 Houston, Texas |
77046 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (713) 215-7000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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:
| ¨ | 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)) |
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December 10, 2015, the Board of Directors (the “Board”) of Occidental Petroleum Corporation (“Occidental”) promoted Vicki A. Hollub, 56, to President and Chief Operating Officer and appointed her to the Board, effective immediately. As part of the previously disclosed succession plan, the Board also announced that Ms. Hollub will succeed Stephen I. Chazen as Chief Executive Officer of Occidental effective at the 2016 annual meeting of stockholders. There is no arrangement or understanding between Ms. Hollub and any other person pursuant to which she was selected as a director, and there are no related party transactions involving Ms. Hollub that are reportable under Item 404(a) of Regulation S-K.
Ms. Hollub has over 35 years of experience in the oil and gas industry, holding a variety of technical and leadership roles, both domestic and international. Ms. Hollub has been an employee of Occidental since 1982, and most recently served as Senior Executive Vice President of Occidental and President – Oxy Oil and Gas. Prior to that, Ms. Hollub served as Executive Vice President and President – Oxy Oil and Gas, Americas; and Vice President of Occidental and Executive Vice President, U.S. Operations, Oxy Oil and Gas. She previously served as Executive Vice President, California Operations; and President and General Manager, Permian Basin operations. Ms. Hollub holds a Bachelor of Science degree in Mineral Engineering from the University of Alabama.
| Item 7.01 | Regulation FD. |
On December 10, 2015, Occidental issued a press release with respect to the management changes described above. The press release, furnished as Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press Release dated December 10, 2015. | |
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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.
| Occidental Petroleum Corporation | ||
| By: | /s/ Jennifer M. Kirk | |
| Name: | Jennifer M. Kirk | |
| Title: | Vice President and Controller | |
DATED: December 11, 2015
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EXHIBIT INDEX
| Exhibit |
Description | |
| 99.1 | Press Release dated December 10, 2015. | |
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Exhibit 99.1
For Immediate Release: December 10, 2015
Occidental Petroleum Promotes Vicki A. Hollub to President and COO, Names her to the Board, and Announces Appointment to CEO Set for 2016 Annual Meeting
HOUSTON – December 10, 2015 – Occidental Petroleum Corporation (NYSE: OXY) announced today 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.
“Vicki has an outstanding track record of efficiently and profitably growing our oil and gas business that will serve her well as Occidental’s chief executive. Her extensive operational and leadership experience make her the right person to lead our organization today and to meet the challenges facing our industry going forward,” said Mr. Chazen.
“I am proud and honored to be given the responsibility by Occidental’s Board of Directors to lead this great company. Occidental has a terrific portfolio of assets with top-notch people. I will work tirelessly to earn and keep the respect of our employees, investors and other stakeholders as we strive to be the best company in our industry,” said Ms. Hollub.
Occidental’s Board of Directors also announced that Mr. Chazen will be nominated to the Board for an additional term following his service as the company’s CEO.
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About Occidental Petroleum
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East region and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment gathers, processes, transports, stores, purchases and markets hydrocarbons and other commodities in support of Occidental’s businesses. The company’s wholly owned subsidiary OxyChem manufactures and markets chlor-alkali products and vinyls.
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Contacts:
Media:
Melissa E. Schoeb
713-366-5615
melissa_schoeb@oxy.com
or
Investors:
Christopher M. Degner
212-603-8111
christopher_degner@oxy.com
On the web: www.oxy.com
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