Occidental CEO Hollub to retire June 1; COO Jackson to succeed

(WO) - Occidental Petroleum said President and CEO Vicki Hollub will retire effective June 1, 2026, with Chief Operating Officer Richard Jackson set to assume the role.

Jackson will also join the company’s board of directors upon becoming CEO. Hollub, who has led Occidental since 2016, will remain on the board following her retirement, providing continuity during the leadership transition.

The move follows what the company described as a decade-long transformation that strengthened its portfolio and technical capabilities. “With this strong foundation in place, a clear path forward and a leader like Richard… now is the right time for this transition,” Hollub said, adding that she looks forward to supporting Jackson and the board in her continued role as a director.

Jackson, who joined Occidental in 2003, has held a range of leadership and technical roles across the company’s global operations, including positions in U.S. onshore development, Permian basin operations and enhanced oil recovery. As COO, he has focused on improving well performance, advancing organic development and driving operational efficiencies.

“I am grateful to be appointed President and CEO of Occidental,” Jackson said. “We have a tremendous opportunity to focus on organic improvement and execution to deliver meaningful value from our high-quality resource base.”

Board Chairman Jack Moore said Jackson is “the right leader to guide the company into its next phase,” while thanking Hollub for her leadership and contributions over more than four decades with the company.