World News

Occidental names former CEO Stephen Chazen as non-executive chair

(Reuters) – Occidental Petroleum Corp <OXY.N> on Tuesday named its former chief executive officer, Stephen Chazen, as non-executive chairman of its board in a bid to end a long and bitter fight with activist investor Carl Icahn.

WSJ had previously reported that the company planned to name Chazen as the new chairman to appease Icahn and that it was also close to adding two of the activist investor’s associates to its board.

(Reporting by Shariq Khan in Bengaluru; Editing by Anil D’Silva)

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