Occidental CEO Hollub Planning to Retire, Reuters Says (1)

Vicki Hollub is preparing to retire after a decade at the helm of Occidental Petroleum Corp., Reuters reported, citing unidentified people familiar with the matter.

Richard Jackson, who was promoted to chief operating officer in October, is primed to become chief executive officer upon Hollub’s departure, Reuters said Thursday. The oil producer’s shares rose as much as 4.2% in New York.

While Hollub plans to make a formal announcement later this year, there’s no firm date for her retirement and the conflict in the Middle East could reshape her plans, according to the report.

“We have a strong board ...