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Occidental Reaches Agreement With Carl Icahn; Three Directors Appointed To Board

Occidental Petroleum Corp. (OXY) has entered into an agreement with Carl C. Icahn and affiliated entities to add three Icahn designated directors to Occidental's Board. Andrew Langham, Nicholas Graziano and Margarita Paláu-Hernández have been appointed as new independent directors. Following the Annual Meeting of Stockholders, the Board will be comprised of 11 directors, 10 of whom are independent.

Occidental said the Icahn Group has withdrawn its slate of director nominees and stockholder proposals at the 2020 Annual Meeting and agreed to vote in favor of the Board's director nominees and amendments to Occidental's restated certificate of incorporation.

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