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Occidental CFO named president

December 14, 2007|From Bloomberg News

Occidental Petroleum Corp. said Thursday that Chief Financial Officer Stephen Chazen would take on the additional role of president from Ray Irani.

Chazen, who is responsible for Occidental's finances, strategy, corporate development, oil and natural-gas marketing, and chemicals, is now also in charge of oil and gas exploration, Westwood-based Occidental said. Irani will remain chief executive and chairman.

Chazen, 61, joined Occidental in 1994 as executive vice president for corporate development and was named CFO in 1999. He was a managing director at Merrill Lynch & Co.'s investment banking unit before joining Occidental.

The announcement came five months after Occidental's board in July voted to extend Irani's contract through 2015.

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