Occidental Petroleum Corporation (OXY: Quote) Monday said Steve Chazen will continue to serve as Chief Executive Officer through the end of 2014 with the Board's full support. Chazen is expected to immediately assume responsibility for all of the company's operations, including Oxy's international operations.
Commenting on the development, Steve Chazen, Chief Executive Officer said, "Today's announcement is consistent with my personal plans...The Board and I have discussed the importance of identifying new leadership for the next decade. I support the Board and its efforts to move forward on succession and corporate governance issues and look forward to working with them to effect an orderly transition."
by RTT Staff Writer
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