Oil demand and prices have tumbled this year as a glut of oil hit the market just before the COVID-19 pandemic swept the globe.
Even then, it won't be decided by the likes of Icahn or Wall Street analysts, but by the whims of the notoriously boom-to-bust oil market. She went to Paris to secure an $8.8 billion deal, admittedly "very limited" dealmaking credentials, plunging dozens of American oil companies into bankruptcy, if the US economy stumbles into a recession. Occidental did not say how many jobs will be cut. She has been a member of Occidental’s Board of Directors since 2015.
Prior to that, she held a variety of leadership positions, including Executive Vice President, Occidental, and President, Oxy Oil and Gas, Americas; Vice President, Occidental, and Executive Vice President, U.S. Operations, Oxy Oil and Gas; Executive Vice President, California Operations; and President and General Manager of the company’s Permian Basin operations.
[1] Hollub was appointed CEO during a severe downturn in the oil industry. Last spring, Vicki Hollub quietly hopped on a Gulfstream jet to Omaha in search of a secret weapon. The CEO of Occidental Petroleum and the first woman to … All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates.
We've known that for a long time," said Molchanov, the Raymond James analyst. Vicki Hollub is President and Chief Executive Officer of Occidental Petroleum. Most recently, she served as Occidental’s President and Chief Operating Officer, overseeing the company’s oil and gas, chemical and midstream operations. That is a large amount of debt for a company the size of Occidental, especially, "Our concern is that the financial flexibility of this company is now somewhat compromised by the amount of debt that was incurred," Andrew Brooks, vice president at Moody's. All times are ET.
Vicki A. Hollub is President, Chief Executive Officer & Director at Occidental Petroleum Corp., Member of The World Economic Forum USA, Inc., Member of OGCI Climate Investments Group Ltd. and Member of Forum Mondial de L'Economie and on the board of 5 other companies. [12] From 2014 until May 2015, she was the executive vice president of Occidental Petroleum[11] and president of Occidental Oil & Gas Corp in the Americas[4][10] from July 2014[12] until May 2015,[11] which gave her oversight of operations in Latin America and worldwide exploration.
Board of Directors. US oil prices cruised above $100 a barrel as recently as 2014. "If she was T. Boone Pickens, we would all be praising his risk-taking.". [6], Vicki Hollub was born in 1960[1][3][7] in Birmingham, Alabama[8] and graduated in 1977 from McAdory High School. Still, in August Moody's took the rare step of downgrading Occidental's credit rating, "That's a pretty unprecedented move," said Brooks, vice president at Moody's. Ms. Hollub serves on the boards of the American Petroleum Institute, Khalifa University for Science and Technology in Abu Dhabi, and Lockheed Martin.
Ms. Hollub is also a member of the Oil and Gas Climate Initiative and the World Economic. The CEO of Occidental Petroleum and the first woman to lead a major American energy company, Hollub had her eye on the Permian Basin — the most prolific oil field in the United States. [17], In March 2020 amid a major stock market crash and an international oil crisis that saw the company's stock price plummet dramatically, a group of activist investors led by Carl Icahn have stated their desire to replace the entire Occidental board of directors, including Hollub. She has been a member of Occidental’s Board of Directors since 2015. [4][7], In 2005, Hollub became involved in leading Occidental's expansion in the Permian Basin [2] in West Texas and southeastern New Mexico. Occidental believes there is substantial value in both oil production and reducing emissions associated with it in the Permian Basin, that others, including Chevron, weren't willing to pay up for.
It looks like your browser does not have JavaScript enabled. [4][9][10] Later that year, in December 2015[11] Hollub was appointed the global president[3] and chief operating officer (COO) of Occidental,[4][10] with oversight for the company's midstream, chemical, and oil and gas operations. A worker heads to the drilling deck at an Anadarko Petroleum rig. 1000 Independence Ave. SWWashington DC 20585202-586-5000.
"I would be reluctant to bet against them.". She has had an interesting life and the American business woman has had an impressive career.
Prior to that, she held a variety of leadership positions, including Executive Vice President, Occidental, and President, Oxy Oil and Gas, Americas; Vice President, Occidental, and Executive Vice President, U.S. Operations, Oxy Oil and Gas; Executive Vice President, California Operations; and President and General Manager of the company’s Permian Basin operations.
Vicki A. Hollub is President, Chief Executive Officer & Director at Occidental Petroleum Corp., Member of The World Economic Forum USA, Inc., Member of OGCI Climate Investments Group Ltd. and Member of Forum Mondial de L She was inducted into the University of Alabama College of Engineering 2016 class of Distinguished Engineering Fellows., Back to [9] She attended the University of Alabama, where in 1981 she earned[9] a Bachelor of Science (BS) degree in mineral engineering[4] with a concentration in fuels and mineral resources. Prior to that, she held a variety of leadership positions, including Executive Vice President, Occidental, and President, Oxy Oil and Gas, Americas; Vice President, Occidental, and Executive Vice President, U.S. Operations, Oxy Oil and Gas; Executive Vice President, California Operations; and President and General Manager of the company’s Permian Basin operations. But I wish they did not do it," said Pavel Molchanov, an energy-industry analyst at Raymond James. Vicki Hollub is President and Chief Executive Officer of Occidental. [4][10] In October 2013[9][11] she was named both Occidental Petroleum's vice president and the executive vice president of U.S. Operations, Oxy Oil and Gas,[4][9][10][11] a role she held until July 2014. She has been a member of Occidental’s Board of Directors since 2015. It remains an open question whether Occidental truly won the war. The. [2][7][9][10] She subsequently held technical and management positions for Occidental in the United States, Russia,[4] Venezuela, and Ecuador.
Source: Bloomberg. WESTERN ASSET INFLATION-LINKED INCOME FUND, Global oil supply and demand to rebalance by end 2021 -Occidental CEO, Debt-laden Occidental to sell Colombia onshore assets for $825 million, Slow-moving storms that deluge coasts become regular part of Atlantic hurricane season, Occidental to sell some Colorado, Utah assets for $1.33 bln, President, Chief Executive Officer & Director, Khalifa University of Science Technology & Research.
Ms. Hollub joined Occidental more than 30 years ago and has held a variety of management and technical positions with responsibilities on three continents, including roles in the United States, Russia, Venezuela and Ecuador. Vicki A. Hollub is President, Chief Executive Officer & Director at Occidental Petroleum Corp., Member of The World Economic Forum USA, Inc., Member of OGCI Climate Investments Group Ltd. and Member of Forum Mondial de L'Economie and on the board of 5 other companies. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Hollub turned to legendary investor Warren Buffett for extra funding to sweeten Occidental's bid for Anadarko Petroleum. Vicki Hollub (born 1960) is an American businesswoman and mineral engineer. Arlington, VA 22209 | Map, SITE POWERED BY EXPRESSION ENGINE | ©2020. Last spring, Vicki Hollub quietly hopped on a Gulfstream jet to Omaha in search of a secret weapon. Factset: FactSet Research Systems Inc.2018. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Nonetheless, analysts and institutional shareholders have shared Icahn's criticism of the deal with Buffett, who has a long history of extracting a high price for his endorsement. He took a risk writing 'Crazy Rich Asians.' And this week Occidental said it has determined that layoffs are "necessary" to hit the financial goals it set in the Anadarko deal. Ms. Hollub previously was Senior Executive Vice President, Occidental Petroleum Corporation, and President, Oxy Oil and Gas, where she was responsible for operations in the U.S., the Middle East region and Latin America. "It will work out in the long run.
(RJ Sangosti/The Denver Post/Getty Images), "We'll get more out of those assets than any of our competitors,". [6], Khalifa University for Science and Technology, List of women CEOs of Fortune 500 companies, "Occidental 'lifer' Vicki Hollub to be first female oil chief", "Occidental names Vicki Hollub first woman CEO of a big U.S. oil firm", "Occidental 'Lifer' Vicki Hollub to Be First Female Oil Chief", "This Is How Occidental Petroleum's CEO Led Through a Crisis", "The New Face Of Big Oil: How Vicki Hollub Made Oxy The Top Player In The Permian", "The most influential woman in the oil and gas industry: Occidental's Vicki Hollub", "UA grad Vicki Hollub to become CEO of Occidental Petroleum and first woman to run a big oil company", "Vicki Hollub named Occidental Petroleum CEO", "Vicki Hollub President/CEO, Occidental Petroleum Corp", "Breaking the glass ceiling is still not enough", "From the President and Chief Executive Officer", "Occidental Completes Acquisition of Anadarko", "Occidental investor set to vote against board due to Anadarko bid", "Activist investor Icahn raises stake in Occidental to nearly 10%", "Icahn says Occidental's $38B Anadarko deal done to save jobs of top brass", "Open Letter to Occidental Petroleum Stockholders", https://en.wikipedia.org/w/index.php?title=Vicki_Hollub&oldid=971040820, American chief executives of Fortune 500 companies, Creative Commons Attribution-ShareAlike License, This page was last edited on 3 August 2020, at 20:50.