Management ChangeMay 4, 2026, 05:27 PM
Occidental CEO Vicki Hollub to retire; Richard Jackson named successor
AI Summary
Occidental announced that Vicki Hollub will retire as President and CEO effective June 1, 2026, and will continue to serve on the Board. Richard Jackson, currently Senior Vice President and COO, has been appointed as her successor and will also join the Board. In connection with his promotion, Mr. Jackson's base salary will increase to $1,400,000 annually, with a target annual cash incentive of 150% of base salary, and he will receive a $6,000,000 restricted stock unit grant. Additionally, shareholders approved all ten director nominees, executive compensation, and the ratification of KPMG as the independent auditor at the 2026 Annual Meeting.
Key Highlights
- Vicki Hollub to retire as President and CEO of Occidental effective June 1, 2026.
- Richard Jackson appointed as Occidental's new President and CEO, effective June 1, 2026.
- Mr. Jackson's base salary will increase to $1,400,000 per year.
- His target annual cash incentive award will be 150% of base salary.
- Mr. Jackson will receive a restricted stock unit grant valued at $6,000,000.
- All ten director nominees were elected by shareholders at the 2026 Annual Meeting.
- Advisory vote to approve named executive officer compensation passed with 94.34% For votes.
- Ratification of KPMG as independent auditor for 2026 was approved with 97.70% For votes.