Western oil stocks rise on CEO succession reports

LootboxPhobia · 2026-03-27T03:49:54+00:00

Western Oil Company CEO Vicki Holub plans to retire, with Chief Operating Officer Richard Jackson expected to succeed her. Holub is the first female CEO of a major oil company, and during her tenure, she successfully acquired Anadarko Petroleum. During the transition period, she may remain as an advisor and continue serving on the board.

LootboxPhobia

2026-03-27 03:49:54

Abstract generation in progress

Investing.com – Occidental Petroleum Corporation (NYSE:OXY) saw its stock price rise 3.7% on Thursday after Reuters reported that CEO Vicki Hollub is preparing to retire, with Chief Operating Officer Richard Jackson expected to succeed her.

According to Reuters, citing four informed sources, the 66-year-old Hollub plans to announce her retirement later this year after more than 40 years with the Houston-based oil producer. Three sources said that Jackson, 49, was promoted to COO last October and is expected to become CEO after Hollub steps down.

Hollub became the first woman to lead a major oil company and transformed Occidental into one of the largest producers in the Permian Basin. A hallmark of her tenure was the $55 billion acquisition of Anadarko Petroleum in 2019, a deal that received $10 billion in financing from Berkshire Hathaway, led by Warren Buffett.

Sources said a transition period is expected, and Hollub may stay on as an advisor or announce a future departure date and appoint Jackson as the incoming CEO. She is expected to remain on the company’s board.

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