LOS ANGELES--(BUSINESS WIRE)--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.