https://www.wsj.com/articles/occidental-plans-to-name-former-ceo-chazen-as-new-chairman-11584656932
Icahn actually looked to him,
https://www.wsj.com/articles/former-occidental-ceo-could-emerge-as-mediator-with-icahn-11564142044
11 replies (most recent on top)
As long as VH and her incompetent lieutenants are gone. Is Chazen going to protect the EC or right the ship?
He can work with Icahn, several months Icahn suggested be one of the 4 board replacements.
What is the conflict?
Supposedly it should be a conflict of interest between his oil company Magnolia and Oxy.
To me it is a case of the classic 'Help, I've fallen and I can't get up'! He gave Vicki her shot, and she blew it, and she's asking for help, desperately. That is how it seems, given the state of the company.
This is the same person who hand picked VH to be his replacement.
Please send Vicki to her kayak and Oscar out the door!
About time!!! Thank you Steve!!!!
It's a desperate move to reset. Takes a lot of Icahn's message away since there is change in the board and at the hands of someone with good market credit. The call for "change the board" becomes blunt in the final sprint ahead of the annual meeting.
Not sure it is going to work but combined with the overall market rout (all E&P is suffering) may provide an extension from the institutional players to allow this to continue without Icahn in charge.
Getting it ready to sell. Needs to be done. In segments if necessary. Oxy is a pathetic example of for a corporation. APC legacy here.
Serious question. Is that good?