Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 20

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 20
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2024,the Board implemented measures to address committee responsibility overlap. |

Director Selection and Recruitment Pursuant to the Board’s Nominating Policy, the Governance Committee considers director candidates recommended by shareholders as discussed further on page 85 . In recent years, the Board has identified director candidates through the use of independent search firms, third-party recommendations and the recommendations of directors. For a discussion of the factors that the Governance Committee considers in recommending candidates for election to the Board, see “ Proposal 1: Election of Directors – Director Nominations ” on page 13 .

| 2025Proxy Statement |
| 23                  |

Corporate Governance

Process for Identifying and Evaluating Directors and Nominees The Governance Committee reviews with the Board, on at least an annual basis, the current composition of the Board. Based on its annual review, the Committee recommends to the Board the general selection criteria for director nominees, screens potential director candidates and recommends the slate of director nominees for election to the Board at the company’s annual meeting of shareholders in light of the current and anticipated needs of the Board and its committees. The Board also periodically reviews the status of director recruitment. Board Refreshment and Succession Planning We believe that thoughtful Board refreshment and proactive director succession planning is an integral part of the company’s ability to deliver on its long-term strategy. Board Refreshment To have an appropriate balance of new perspectives with the institutional knowledge contributed by our longer-serving directors, the Committee periodically reviews best practices to enhance the Board’s refreshment process. Our Corporate Governance Policies incorporate refreshment mechanisms, including a tenure policy that seeks to maintain an average tenure of 10 years or less for Occidental’s non-employee directors and resignation guidelines in an uncontested election. Succession Planning and Director Recruitment Process In anticipation of retirements as well as evolving strategic needs for different skills and capabilities, the Committee conducts proactive, strategy- and risk-driven director succession planning. Director succession planning and recruitment processes are designed to be responsive to anticipated future needs in light of business, industry and market dynamics and to yield an appropriate balance of skills, backgrounds, experiences and tenure to effectively support and oversee the implementation of our long-term strategy. The Committee follows a multi-step approach to succession planning and the director recruitment process to identify and evaluate potential director candidates:

| 1                                                                                                                                                                                                                                                                                           | ASSESS BOARDCOMPOSITION | u |                                                                                                                                                                                                                                                                                                                            2 | IDENTIFY DIVERSECANDIDATE POOL | u |                                                                                                                                                                                                                                                                             3 | EVALUATECANDIDATES | u |