Occidental Petroleum has announced a major leadership transition, with longtime CEO Vicki Hollub set to retire on June 1, 2026. The company’s Board of Directors has named Chief Operating Officer Richard Jackson as her successor, signaling a continuation of Occidental’s current strategic direction.
Hollub, who has led the company since 2016, will remain on the Board of Directors following her retirement. Her tenure marked a transformative period for Occidental, including significant portfolio optimization and a growing focus on carbon management and lower-carbon technologies.
Jackson brings more than two decades of experience within Occidental, having held key leadership roles across U.S. onshore operations, the Permian Basin, enhanced oil recovery, and low-carbon initiatives. As COO, he has focused on improving operational efficiency, well performance, and disciplined resource development.
The leadership transition comes at a time when Occidental is emphasizing execution, cost efficiency, and maximizing value from its existing asset base. With Jackson at the helm, the company is expected to continue building on its strong operational foundation while advancing its strategy in both traditional energy and carbon management.
Occidental CEO Vicki Hollub will retire on June 1, 2026, with COO Richard Jackson set to take over as President and CEO. The transition signals strategic continuity, with a continued focus on operational efficiency, asset optimization, and disciplined growth.
This planned succession highlights stability at the top and positions Occidental for its next phase of growth.
Author: phinds
