The Delaware Stockholder proposal of Occidental Petroleum Corp. aims to introduce mandatory retirement requirements for officers and directors at the age of 70. This proposal seeks to ensure appropriate succession planning and fresh perspectives within the company's leadership. By implementing this policy, Occidental Petroleum Corp. aims to maintain a balanced and dynamic leadership team through regular turnover. Keywords: Delaware Stockholder proposal, Occidental Petroleum Corp., mandatory retirement, officers, directors, age 70, succession planning, leadership team, turnover. Different types of Delaware Stockholder proposals for mandatory retirement at age 70 that may exist within Occidental Petroleum Corp. can include: 1. Age-based Mandatory Retirement Policy: This type of proposal suggests establishing a firm retirement age of 70 for all officers and directors within Occidental Petroleum Corp., regardless of their individual performance or capabilities. It emphasizes the benefits of regular leadership turnover to avoid stagnation and facilitate fresh ideas. 2. Transition Period Proposal: This proposal suggests implementing a mandatory retirement age of 70, but allows for a transitional period during which officers and directors can gradually step down from their roles rather than immediately leaving the company. This approach permits a smoother succession process and knowledge transfer. 3. Exception Clause Proposal: Some stockholders may propose an exception clause within the mandatory retirement policy to accommodate exceptional cases where a particular officer or director, who possesses valuable expertise or skills, could continue serving in their position beyond the age of 70. This proposal aims to retain experienced individuals who still contribute significantly to Occidental Petroleum Corp.'s success. 4. Phased Retirement Proposal: This type of proposal suggests a phased retirement approach, wherein officers and directors start reducing their responsibilities and transitioning gradually to retirement starting at age 70. This gradual shift allows for a smoother transition and ensures the continuity of leadership. 5. Annual Review and Renewal Proposal: This proposal suggests that the mandatory retirement policy at age 70 should be subject to an annual review and renewal process. Stockholders argue that this approach ensures ongoing evaluation of the effectiveness and relevance of the retirement age requirement, providing opportunities for adjustments based on evolving circumstances and the company's needs. These different types of Delaware Stockholder proposals for mandatory retirement at age 70 reflect varied perspectives on the optimal approach to ensure a balanced leadership team within Occidental Petroleum Corp.
Delaware Stockholder proposal of Occidental Petroleum Corp. to provide that each officer and director be subject to mandatory retirement at age 70
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Is OXY Stock a Buy, ing to Analysts? On TipRanks, OXY comes in as a Moderate Buy based on six Buys, seven Holds, and one Sell rating assigned by analysts in the past three months. The average Occidental Petroleum price target is $71.43, implying 16% upside potential.
What Is Occidental Petroleum's Debt? The image below, which you can click on for greater detail, shows that Occidental Petroleum had debt of US$19.1b at the end of June 2023, a reduction from US$22.0b over a year. However, it does have US$486.0m in cash offsetting this, leading to net debt of about US$18.6b.
Top 10 Owners of Occidental Petroleum Corp StockholderStakeShares ownedBerkshire Hathaway, Inc. (Investm...25.78%228,051,027Dodge & Cox10.32%91,303,640The Vanguard Group, Inc.6.46%57,167,328SSgA Funds Management, Inc.5.02%44,375,2266 more rows
Occidental's $57 Billion Acquisition of Anadarko, Contingent $8.8 Billion Sale of Anadarko African Assets to Total and $10 Billion Investment from Berkshire Hathaway.
Occidental Petroleum's mission statement is "Develop energy resources safely, profitably and responsibly to maximize value."
The Audit Committee of the Board of Directors of Occidental has selected KPMG LLP as independent auditor to audit the consolidated financial statements of Occidental and its subsidiaries for the year ending December 31, 2021.
The oil and gas company reported a $1.18 a share profit compared to average Wall Street analyst forecasts for an 84 cent a share profit, ing to LSEG. Adjusted earnings fell by more than half to $1.13 billion compared to the same quarter last year.