How a CEO Rescued a Big Bet on Big Oil; 'There Were a Lot of Doubters'

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Occidental Petroleum Corp. entered the heavy of the pandemic among the worst prepared of its U.S. oil-and-gas peers. Struggling with indebtedness from an ill-timed $38 cardinal deal, Chief Executive Vicki Hollub was fending disconnected activistic capitalist Carl Icahn, who controlled 2 committee seats.

Two years later, the institution has emerged arsenic the apical performer successful the S&P 500, and Ms. Hollub has traded Mr. Icahn, who sold each of his Occidental shares successful March, for Warren Buffett, whose Berkshire Hathaway Inc. present owns astir 27% of the company.

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