Occidental announced on May 1 that its Board of Directors has appointed Senior Vice President and Chief Operating Officer Richard Jackson to succeed Vicki Hollub as President and Chief Executive Officer upon her retirement. Hollub will step down effective June 1, following more than four decades with the company.
The leadership change is part of Occidental’s management succession planning. The Board also said Jackson will join the Board of Directors starting June 1. Hollub, who has served as CEO since 2016 and joined the Board in 2015, will remain a director after retiring from her executive role to provide continuity and strategic guidance.
“It has been a privilege to lead Occidental and work alongside such a talented team for more than 40 years. Following the recently completed decade-long transformation of the company, we now have the best portfolio and the best technical expertise in Occidental’s history. With this strong foundation in place, a clear path forward and a leader like Richard, who has the experience and vision to elevate Occidental, now is the right time for this transition,” said Hollub. “I look forward to supporting Richard and the Board through my continued role as a director.”
Board Chairman Jack Moore said: “On behalf of the Board, I want to thank Vicki for her exceptional leadership and transformative contributions to Occidental. Richard is the right leader to guide the company into its next phase of our strategy.”
Jackson joined Occidental in 2003 working in Middle East operations before holding various senior roles including President of U.S. Onshore Oil and Gas; President of Low Carbon Integrated Technologies; General Manager positions; Vice President roles overseeing investor relations; drilling operations; among others. As Chief Operating Officer he focused on resource improvement, cost efficiency, organic development, operational execution, and applying innovative technology.
“I am grateful to be appointed President and CEO of Occidental and excited about the opportunity to execute from the strong position and capabilities that we built under Vicki’s leadership,” said Jackson. “It means a lot to me personally to be a part of our Occidental team. I am committed to delivering value from our significant and high-quality resource base. We have a tremendous opportunity to focus on organic improvement and execution to deliver meaningful value for our employees, shareholders and partners.”
