Occidental Announces CEO Succession
Occidental (NYSE: OXY) announced that Vicki Hollub will retire as President and CEO effective June 1, 2026.
Rhea-AI Summary
Occidental (NYSE: OXY) announced that Vicki Hollub will retire as President and CEO effective June 1, 2026. Senior Vice President and Chief Operating Officer Richard Jackson will succeed her and join the Board on that date. Hollub will remain on the Board after retirement to support continuity.
Jackson joined Occidental in 2003 and has held multiple leadership roles; as COO he emphasized operational execution, well performance, and cost efficiency.
Positive
- Internal succession: COO Richard Jackson promoted to CEO effective June 1, 2026
- Continuity: outgoing CEO Vicki Hollub will remain on the Board after retirement
- Director appointment: Jackson will join the Board of Directors effective June 1, 2026
Negative
- Long-tenured CEO Vicki Hollub leaves the executive role after leading since 2016
- Executive change may require a transition period for strategic execution
Details
News Market Reaction – OXY
In the May 1 session, OXY declined 3.09%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- CEO retirement date
- June 1, 2026
- Effective date for Vicki Hollub to retire as President and CEO
- CEO tenure start
- 2016
- Year Vicki Hollub became CEO
- Board service start
- 2015
- Year Vicki Hollub joined Occidental’s Board
- Occidental career length
- 40+ years
- Approximate length of Vicki Hollub’s career at Occidental mentioned in article
- COO join year
- 2003
- Year Richard Jackson joined Occidental
Historical Context
-
Announced Bandit oil discovery in Gulf of America with high-quality Miocene sands.
-
Set dates for Q1 2026 earnings release and investor conference call.
-
Detailed total consideration for cash tender offers and consent solicitations on notes.
-
Reported early tender results and raised cap on debt repurchases to $1.2B.
-
Launched cash tender offers for up to $700M of senior notes and debentures.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vicki Hollub to retire as President and CEO effective June 1, 2026; Occidental’s Board Names Chief Operating Officer Richard Jackson as her successor
HOUSTON, May 01, 2026 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that its Board of Directors, as part of its management succession planning, has named Senior Vice President and Chief Operating Officer Richard Jackson to succeed Vicki Hollub as President and Chief Executive Officer upon her retirement. Hollub will retire effective June 1, 2026, following a distinguished career of leadership and service.
The Board also announced Jackson will join the Board of Directors, effective June 1, 2026. Hollub, who has served as CEO since 2016 and has been a Board member since 2015, will continue to serve on the company’s Board of Directors following retirement, ensuring continuity and ongoing 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.”
“On behalf of the Board, I want to thank Vicki for her exceptional leadership and transformative contributions to Occidental,” said Board Chairman Jack Moore. “Richard is the right leader to guide the company into its next phase of our strategy.”
Jackson joined Occidental in 2003 in its Middle East operations. During his time at Occidental, he has held pivotal leadership and technical positions, including President of U.S. Onshore Oil and Gas, President of Low Carbon Integrated Technologies, General Manager of the Permian Delaware Basin and Enhanced Oil Recovery Oil and Gas, Vice President of Investor Relations, and Vice President of Drilling Americas.
As Chief Operating Officer, Jackson has focused on delivering value through resource improvement and cost efficiency by improving well performance, focusing on organic development and 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.”
About Occidental
Occidental is an international energy company that produces, markets and transports oil and natural gas to maximize value and provide resources fundamental to life. The company leverages its global leadership in carbon management to advance lower-carbon technologies and products. Headquartered in Houston, Occidental primarily operates in the United States, the Middle East and North Africa. To learn more, visit oxy.com.
Contacts
| Media | Investors |
| Eric Moses | Babatunde A. Cole |
| 713-497-2017 | 713-552-8811 |
| eric_moses@oxy.com | investors@oxy.com |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.