Robert M. Shearer Elected to Occidental Board of Directors
July 10 2019 - 07:15PM
Occidental Petroleum Corporation (NYSE:OXY) announced today that
Robert “Bob” M. Shearer, a former managing director of BlackRock
Advisors LLC, has been elected to its Board of Directors.
Mr. Shearer, 64, has over 35 years of experience in securities
and leading investment management firms. Before retiring from
BlackRock in 2017, he was co-head of BlackRock’s Equity Dividend
team and a member of the Fundamental Equity Platform within
BlackRock's Portfolio Management Group. Mr. Shearer was also the
portfolio manager for both the BlackRock Equity Dividend Fund and
Natural Resources Trust, which grew from $500 million to over $50
billion under his leadership. Previously, he managed the Merrill
Lynch World Natural Resources Portfolio for Merrill Lynch
Investment Managers, which merged with BlackRock in 2006. Mr.
Shearer has also held senior leadership roles at David L. Babson
& Company, Concert Capital Management and Fiduciary Trust
Company International. As a senior research officer for Citicorp
Investment Management, he focused on the oil industry, including
exploration and production, pipelines and oil field services.
“With more than three decades of experience, Bob has a track
record of creating significant value for investors with a focus on
high-quality, dividend-growth stocks,” said Gene L. Batchelder,
Chairman of the Board. “We are committed to growing our dividend as
part our long-term strategy, and Bob’s industry knowledge and
management expertise will be a great addition to our Board.”
“Occidental’s reputation for innovation and operational
excellence and its strategy for sustainability set it apart in the
industry,” Mr. Shearer said. “I am confident in Occidental's
ability to deliver on its long-term business strategy of
industry-leading returns and returning capital to shareholders, and
I look forward to supporting this commitment as a member of the
Board of Directors.”
Mr. Shearer holds an undergraduate degree in Economics from the
University of Wisconsin, as well as a Master of International
Management from the Thunderbird School of Global Management and a
Master of Business Administration from the University of Wisconsin.
He is a Chartered Financial Analyst.
About Occidental
Occidental 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
purchases, markets, gathers, processes, transports and stores
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 oxy.com.
Contacts:
Media: Melissa E. Schoeb 713-366-5615 melissa_schoeb@oxy.com
or
Investors:
Jeff Alvarez713-215-7864jeff_alvarez@oxy.com
On the web: oxy.com
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