Iowa Stockholder Proposal of Occidental Petroleum Corp. aims to enforce mandatory retirement at age 70 for all officers and directors associated with Occidental Petroleum Corp. This proposal is designed to ensure organizational integrity and fresh perspectives within the company's leadership. By implementing this retirement policy, Occidental Petroleum aims to foster a dynamic environment that promotes innovation and allows for successful succession planning. Keywords: Iowa Stockholder Proposal, Occidental Petroleum Corp., mandatory retirement, age 70, officers, directors, organizational integrity, fresh perspectives, leadership, innovation, succession planning. Different types of Iowa Stockholder proposals of Occidental Petroleum Corp. to provide mandatory retirement at age 70 for officers and directors may include: 1. Amendment Proposal: This type of proposal suggests amending the company's bylaws or corporate governance guidelines to incorporate mandatory retirement at age 70 for officers and directors. 2. Shareholder Resolution Proposal: Shareholders may propose a resolution requesting Occidental Petroleum Corp. to adopt a policy that enforces mandatory retirement at age 70 for its officers and directors. This type of proposal is typically voted on during shareholder meetings. 3. Governance Committee Proposal: Shareholders may propose the establishment of a special governance or compliance committee responsible for reviewing and monitoring the implementation of mandatory retirement at age 70 for officers and directors. This proposal ensures ongoing oversight and evaluation of the retirement policy. 4. Performance-Based Proposal: This type of proposal suggests that mandatory retirement at age 70 can be waived if an officer or director meets certain performance criteria established by the board or a designated committee. This approach aligns retirement decisions with individual performance and allows for exceptional leaders to continue serving beyond the typical retirement age. 5. Gradual Implementation Proposal: Some shareholders may propose a gradual implementation of the mandatory retirement policy, allowing current officers and directors to serve until a specific future date, typically tied to their existing contracts or board terms. This proposal aims to balance continuity within leadership while introducing the retirement policy gradually. These different types of Iowa Stockholder proposals provide various perspectives on how Occidental Petroleum Corp. can enforce mandatory retirement at age 70 for officers and directors, ensuring a forward-thinking and adaptable leadership structure.
Iowa 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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