Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On January 2, 2020, the Board of Directors (the "Board") of Occidental Petroleum
Corporation ("Occidental") increased the size of the Board from 10 to 11
directors in order to elect Andrew Gould, a former Chairman and Chief Executive
Officer of Schlumberger Limited ("Schlumberger"), to the Board effective March
1, 2020.
Mr. Gould has more than 40 years of experience in the oil and gas industry. From
2003 to 2011, he served as Chairman and Chief Executive Officer of Schlumberger,
a leading oilfield services company. Mr. Gould began his career at Schlumberger
in 1975 in its Internal Audit department, based in Paris. In addition to his
career at Schlumberger, Mr. Gould served as non-Executive Chairman of BG Group,
a multinational oil and gas company, from 2012 until its sale to Royal Dutch
Shell in 2016. He served as interim Executive Chairman in 2014. He currently
serves as a member of the Board of Directors of Saudi Aramco, a leading global
energy company, and BJ Services, a private oilfield services company. Mr. Gould
has an undergraduate degree in Economic History from Cardiff University and
qualified as a Chartered Accountant with the Institute of Chartered Accountants
in England and Wales.
There are no arrangements or understandings between Mr. Gould and any other
persons pursuant to which he was selected as a director. Mr. Gould has not been
appointed to any committees of the Board at this time. Pursuant to Occidental's
compensation program for non-employee directors, Mr. Gould will be entitled to
receive (i) a pro rata portion of the 2019-2020 common stock equity award
granted to non-employee directors and (ii) a pro rata portion of the 2019-2020
retainer paid to non-employee directors.
Item 7.01 Regulation FD Disclosure.
On January 2, 2020, Occidental issued a press release with respect to Mr.
Gould's election to the Board. The press release, furnished as Exhibit 99.1
hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, except as
shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Description
No.
99.1 Press Release dated January 2, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses