Oxy Expands Responsibilities of Lead Independent Director
Occidental Petroleum has expanded and strengthened the duties and responsibilities of its Lead Independent Director, including advising the Chairman on the materials to be provided by management to the Board and approving the agendas for all Board and Committee meetings. As a result, a stockholder proposal for Oxy to separate the roles of Chairman and Chief Executive Officer which was to be presented for stockholder consideration at Oxy's May 7, 2010 Annual Meeting has been withdrawn.
Oxy will report the results of the remaining ten proposals and election of the Board immediately following the May 7 meeting.
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