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Occidental names new CEO for 2026

May 1, 2026 at 15:08 UTC

2 min read
Occidental leadership transition graphic showing COO succeeding CEO in 2026 and outgoing chief staying on board

Key Points

  • Occidental Petroleum (OXY) has appointed Richard Jackson as its next President and CEO
  • Jackson will assume the top role on June 1, 2026, after Vicki Hollub retires
  • Hollub will stay on Occidental’s (OXY) Board of Directors after stepping down as CEO
  • Jackson is a long-time Occidental (OXY) executive who has served as Chief Operating Officer

Occidental outlines CEO succession for 2026

Occidental Petroleum has announced a planned leadership transition that will see Richard Jackson become President and Chief Executive Officer on June 1, 2026. He will succeed Vicki Hollub, who is set to retire from her role as CEO on the same date after a long tenure with the company.

The company is positioning the move as a structured succession, giving investors and employees clarity on its future leadership. The effective date establishes a defined timetable for the handover of executive responsibilities.

Role of outgoing CEO Vicki Hollub

Vicki Hollub has served as Occidental’s CEO since 2016 and has been with the company for more than 40 years. Her period in charge is described as a significant leadership era for the company, marked by what Occidental characterizes as a decade-long transformation.

Although Hollub will retire from the CEO position on June 1, 2026, she will remain on Occidental’s Board of Directors. Her continued presence on the board is intended to provide continuity in governance and support the transition to new executive leadership.

Background of incoming CEO Richard Jackson

Richard Jackson is a long-time Occidental executive who joined the company in 2003. Over more than two decades, he has held a range of leadership roles, including serving as Chief Operating Officer.

In his prior responsibilities, Jackson has focused on operational efficiency and well performance, underscoring an emphasis on execution within Occidental’s portfolio. His experience in these areas forms part of the rationale for his elevation to the CEO position.

By appointing Jackson as President and CEO, Occidental is drawing on an internal candidate with extensive familiarity with the company’s operations and strategic direction rather than turning to outside leadership.

Strategic context for the transition

The leadership change comes as Occidental prepares for what it describes as its next phase of strategic execution. This follows a decade-long period of transformation during Hollub’s leadership as CEO.

With Hollub remaining on the board and Jackson advancing from Chief Operating Officer to President and CEO, the company is signaling a blend of continuity and evolution in its senior leadership team. The defined succession plan is designed to support an orderly handover ahead of the June 1, 2026 effective date.

Key Takeaways

  • Occidental has set a clear future date for its CEO transition, providing visibility into how leadership will evolve through 2026.
  • Keeping Vicki Hollub on the Board preserves institutional knowledge while allowing day-to-day control to pass to Richard Jackson.
  • Jackson’s promotion from within reflects Occidental’s preference for continuity, relying on a leader familiar with its operations and strategic priorities.

References

  1. 1. https://www.stocktitan.net/news/OXY/occidental-announces-ceo-c6zirokbxgob.html
  2. 2. https://www.cnbc.com/2026/05/01/occidental-names-veteran-richard-jackson-as-ceo-vicki-hollub-to-retire.html
  3. 3. https://www.workboat.com/occidental-names-coo-richard-jackson-as-next-ceo
  4. 4. https://www.reuters.com/sustainability/boards-policy-regulation/occidental-names-veteran-richard-jackson-ceo-vicki-hollub-retire-2026-05-01/
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