Irani is out as chairman of Occidental Petroleum

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Associated Press

Posted on May 4, 2013 at 6:01 AM

Updated Saturday, May 4 at 6:01 AM

LOS ANGELES (AP) — Occidental Petroleum says that Chairman Ray R. Irani will step down and be replaced by a former diplomat.

Irani was chairman and CEO from 1990 to 2011 and became executive chairman in May 2011.

The company said Friday that another director, Aziz Syriani, withdrew before the election at the company's annual meeting.

Occidental says that Edward P. Djerejian, a former U.S. ambassador to Israel and Syria, will replace Irani. Former U.S. Energy Secretary Spencer Abraham will become vice chairman.

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