December 13, 2007 01:01 PM Eastern Daylight Time
Occidental Elects Stephen I. Chazen President and Chief Financial
LOS ANGELES--(BUSINESS WIRE)--Dr. Ray R. Irani, Chairman and Chief Executive Officer of Occidental
Petroleum Corporation (NYSE:OXY), announced today that the Board of
Directors has elected Stephen I. Chazen as President and Chief Financial
Commenting on the appointment, Dr. Irani said, "In addition to his role
as Chief Financial Officer, Mr. Chazen has been responsible for
implementing Occidental's overall strategy, and has overseen corporate
development, oil and gas marketing, and chemicals. He will continue to
do so, and will now also be responsible for oil and gas exploration. His
combination of experience in financial matters and oil and gas and
chemicals operations will help us create additional value for our
Mr. Chazen, 61, joined Occidental in 1994 as Executive Vice President -
Corporate Development. He was named Chief Financial Officer in 1999.
Prior to joining Occidental, Mr. Chazen was a managing director in the
investment banking group of Merrill Lynch & Co.
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.