Massachusetts Stockholder Proposal of Occidental Petroleum Corp. — Mandatory Retirement at Age 70 The Massachusetts Stockholder Proposal of Occidental Petroleum Corp. focuses on the implementation of mandatory retirement at age 70 for each officer and director within the company. This proposal aims to ensure the constant influx of fresh ideas, perspectives, and leadership within the organization, promoting continuous growth and rejuvenation. Additionally, it aims to address concerns regarding the impact of aging on decision-making capabilities and the need for succession planning. Keywords: Massachusetts Stockholder Proposal, Occidental Petroleum Corp., mandatory retirement, officer and director, age 70, fresh ideas, perspectives, continuous growth, rejuvenation, aging impact, decision-making capabilities, succession planning Different Types of Massachusetts Stockholder Proposal of Occidental Petroleum Corp. — Mandatory Retirement at Age 70: 1. Comprehensive Retirement Policy Proposal: This variant of the stockholder proposal suggests the establishment of a comprehensive retirement policy that applies to all officers and directors, mandating retirement at age 70. It outlines the necessary steps to be taken, such as defining retirement terms, creating a smooth transition plan, and implementing a robust succession planning process. 2. Phased Retirement Proposal: This type of Massachusetts stockholder proposal involves a more gradual approach to mandatory retirement. It suggests the introduction of a phased retirement program, allowing officers and directors to gradually reduce their responsibilities and work hours as they near the age of 70. This approach ensures the retention of valuable expertise and a smooth transition of leadership within the company. 3. Retirement Committee Proposal: In this variation, the stockholder proposal focuses on the formation of a retirement committee within Occidental Petroleum Corp. This committee would be responsible for evaluating the performance, health, and overall suitability of officers and directors as they approach age 70. Based on their assessments, the committee would recommend retirement or reassignment to alternative roles within the organization. 4. Age-Specific Retirement Proposal: This type of Massachusetts stockholder proposal suggests implementing retirement eligibility based on specific age brackets. For instance, it could propose mandatory retirement at age 70 for all current officers and directors but establish different retirement ages for future appointments, taking into account factors such as industry trends, job requirements, and legal considerations. 5. Annual Retirement Review Proposal: This variant of the stockholder proposal calls for an annual review of all officers and directors within Occidental Petroleum Corp., regardless of their age. The purpose of this review is to evaluate performance, capabilities, and contributions objectively. If any officer or director is found to be unfit for their role, retirement recommendations would be made, and appropriate actions would be taken. It's worth noting that the specific types of stockholder proposals regarding mandatory retirement at age 70 may vary depending on the circumstances and priorities of the stockholders and the company's governance structure.
Massachusetts Stockholder proposal of Occidental Petroleum Corp. to provide that each officer and director be subject to mandatory retirement at age 70
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Occidental has previously been accused of inflating the role of carbon dioxide removal when it told investors that it could capture 10 gigatonnes by 2030. IPCC author Zeke Hausfather thinks ?carbon dioxide removal is an important part of getting to net zero?.
The Audit Committee of the Board of Directors of Occidental has selected KPMG LLP as independent auditor to audit the consolidated financial statements of Occidental and its subsidiaries for the year ending December 31, 2021.