Occidental Petroleum's previously announced leadership transition takes effect today, June 1, 2026, as Richard Jackson formally assumes the roles of President and Chief Executive Officer. He succeeds Vicki Hollub, who announced her retirement in early May after having served as CEO since 2016. Hollub will continue to serve on the company's board of directors to support the transition.
This change in leadership marks a new chapter for the energy giant. Jackson, formerly the Chief Operating Officer, has been with Occidental since 2003 and is expected to continue the company's strategic direction. Separately, on June 1, Zacks Investment Research upgraded Occidental's stock to a "Strong Buy," noting that the consensus estimate for its current year earnings has increased significantly over the last 60 days.