Trailblazer Vicki Hollub to Retire as Occidental Petroleum's CEO

Vicki Hollub is poised to retire from her role as CEO of Occidental Petroleum, marking the end of a decade-long leadership that positioned her as a formidable figure in the predominantly male oil and gas industry, Reuters has learned from sources.

The 66-year-old executive will officially announce her retirement later this year, sources said, with Richard Jackson, currently the COO, prepared to succeed her. Hollub's departure concludes over 40 years at the Houston-based firm, during which she became the first woman to lead a major oil company, transforming Oxy into a top producer in the Permian Basin.

Her notable tenure included the 2019 acquisition of Anadarko Petroleum, a $55 billion deal that significantly increased Oxy's debt load but bolstered its position in the shale market. Despite the company still managing this debt, Hollub's strategic contributions have positioned them strongly in the industry. Hollub's retirement comes as the Middle East conflict threatens global energy supplies, potentially affecting her timeline.