Occidental Petroleum (OXY) shares jumped more than 3% on Thursday after reports that its CEO, Vicki Hollub, is preparing to retire from her role.
According to Reuters, Hollub, touted as the most powerful woman in the U.S. oil industry, plans to make a formal announcement later this year. Richard Jackson, who was elevated to chief operating officer in October, is primed to take over as the CEO after Hollub's departure, Reuters reported, citing people familiar with the matter.
There is no firm date set for her retirement, the report added, and noted that the ongoing conflict in the Middle East could reshape her plans.
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