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EOG - EOG Resources Inc News Story

$51.44 -0.8  -1.6%

Last Trade - 26/05/20

Sector
Energy
Size
Large Cap
Market Cap £24.98bn
Enterprise Value £26.88bn
Revenue £14.69bn
Position in Universe 280th / 6360

UPDATE 1-Occidental names new CFO in latest management change

Fri 3rd April, 2020 10:54pm
(Adds details, background)
    April 3 (Reuters) - Oil and gas producer Occidental
Petroleum Corp  OXY.N  on Friday named company insider Robert
Peterson as its new chief financial officer.
    The appointment, effective immediately, comes when the shale
producer is struggling with a massive $40 billion debt load from
its purchase of rival Anadarko Petroleum, an ill-timed bet on
rising oil prices.
    The company recently settled a long and bitter war with Carl
Icahn over that deal, giving the activist investor's associates
three seats on its board. 
    Occidental's current financial head, Cedric Burgher, will
transition to another role, the company said in a filing https://www.sec.gov/ix?doc=/Archives/edgar/data/797468/000114036120007995/form8k.htm.
 Burgher had joined in 2017 from EOG Resources  EOG.N .
    The CFO transition marks the second major management change
at Occidental in recent weeks. A proxy filing https://www.sec.gov/Archives/edgar/data/797468/000120677420001012/oxy3677661-pre14a.htm
 earlier this week revealed that senior vice president Oscar
Brown, one of the key figures in the Anadarko deal, left in
March. 
    The company did not provide a reason for the CFO change or
for Brown's departure.
    Peterson, 49, has served in various positions at the company
and was most recently senior vice president in Occidental's
Permian enhanced oil recovery business.

 (Reporting by Shariq Khan in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Shariq.Khan@thomsonreuters.com; Within U.S.+1 646 223 8780,
outside U.S. +91 80 6182 2681; Twitter: @shariqrtrs;))
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