CEO Behind Shale Megadeal Faces Investor Scrutiny
- Occidental’s Vicki Hollub has been criticized by Carl Icahn
- Deal has saddled company with debt while the stock has slumped
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Vicki Hollub is set to face investors for the first time since leading Occidental Petroleum Corp.’s controversial $37 billion purchase of Anadarko Petroleum Corp.
On an earnings call on Tuesday, Occidental’s chief executive officer will need to show hard evidence that her plan for the merger is working, after drawing the ire of activist investor Carl Icahn and other shareholders for denying them a vote on the deal. The stock has plunged about 35% since April, when Occidental was first said to be pursuing the takeover. It’s this year’s second-worst performer on the S&P 500 Energy Index.