HOUSTON–(BUSINESS WIRE)–Occidental Petroleum Corporation (NYSE:OXY) announced today that Cedric W. Burgher has been appointed Chief Financial Officer. Mr. Burgher most recently served as a Senior Vice President at EOG Resources, where he led investor relations and reported directly to the Chief Executive Officer. He replaces Chris Stavros, who is retiring from Occidental.
“Cedric has tremendous financial leadership experience at some of our industry’s most respected firms and we look forward to his contributions at Occidental,” said Vicki Hollub, President and Chief Executive Officer. “He is uniquely qualified to strengthen our ability to deliver industry-leading results while executing our financial strategy of low capital intensity, returns-focused investments and consistent, annual dividend growth.”
“In my discussions with Vicki and the Board, I was impressed by the strategy to increase value through a differentiated approach to portfolio optimization, technical innovation, operational excellence and capital allocation,” said Mr. Burgher. “Occidental’s future is exceptionally bright with a powerful combination of high quality assets, financial discipline and a world-class team. I’m excited to advance Occidental’s efforts to deliver long-term shareholder value.”
Eugene L. Batchelder, Board Chairman, said, “The Board joins Vicki in welcoming Cedric to the management team. Chris has done a great job during his tenure with the company and we appreciate his contributions to Occidental’s excellent financial condition, robust reporting systems and culture of transparency. We thank him and wish him the best in his future endeavors.”
Mr. Burgher is a seasoned energy executive with more than 30 years of experience leading CFO, financial and investor functions at a number of global companies. He is a Chartered Financial Analyst and holds a BBA from the University of Texas at Austin and an MBA from the University of Dallas.
About Occidental Petroleum
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment gathers, processes, transports, stores, purchases and markets hydrocarbons and other commodities. The company’s wholly owned subsidiary OxyChem manufactures and markets basic chemicals and vinyls. Occidental posts or provides links to important information on its website at www.oxy.com.