The New Mexico Stockholder proposal of Occidental Petroleum Corp. aims to introduce a mandatory retirement policy for officers and directors at the age of 70. This proposal seeks to ensure that the leadership roles within the company are periodically refreshed, allowing for the infusion of new talent and perspectives. By implementing a mandatory retirement age, Occidental Petroleum Corp. can potentially avoid stagnation and foster a culture of innovation and adaptability. Keywords: New Mexico, Stockholder proposal, Occidental Petroleum Corp., mandatory retirement, officer, director, age 70, leadership, talent, perspectives, refreshing, stagnation, innovation, adaptability. Types of New Mexico Stockholder proposals of Occidental Petroleum Corp. to provide that each officer and director be subject to mandatory retirement at age 70: 1. Standard Retirement Age Proposal: This type of proposal suggests a fixed retirement age of 70 for all officers and directors at Occidental Petroleum Corp. It aims to ensure consistency and prevent any bias or favoritism towards specific individuals. 2. Gradual Retirement Transition Proposal: This proposal suggests implementing a phased retirement approach, gradually reducing executive responsibilities and workload as officers and directors approach the age of 70. This type of proposal acknowledges the value of experience while introducing a controlled succession plan. 3. Term Limits Proposal: In this type of proposal, rather than focusing solely on age, stockholders suggest implementing term limits for officers and directors. The proposal could recommend a maximum number of terms or a cumulative period of service, ensuring turnover and fresh perspectives after a set duration. 4. Performance Evaluation Retirement Proposal: This proposal focuses on evaluating the performance of officers and directors instead of solely relying on age-based retirement. It suggests that individuals who fail to meet specific performance criteria or objectives should be subject to retirement, regardless of their age. 5. Mandatory Retirement with Exceptions Proposal: This proposal suggests a mandatory retirement age of 70 for officers and directors at Occidental Petroleum Corp., with provisions allowing exceptions in case of exceptional performance or critical skills that remain valuable even after reaching the specified age limit. These different types of proposals offer slight variations on the main theme of mandatory retirement at age 70 for officers and directors at Occidental Petroleum Corp. by considering factors such as performance, term limits, and phased retirement.
New Mexico 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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