Occidental Petroleum Corporation announced that Robert “Bob” M. Shearer, a former managing director of BlackRock Advisors LLC, has been elected to its Board of Directors
Shearer, 64, has over 35 years of experience in securities and leading investment management firms. Before retiring from BlackRock in 2017, he was co-head of BlackRock’s Equity Dividend team and a member of the Fundamental Equity Platform within BlackRock'sPortfolio Management Group. Shearer has also held senior leadership roles at David L. Babson & Company, Concert Capital Management and Fiduciary Trust Company International. As a senior research officer for Citicorp Investment Management, he focused on the oil industry, including exploration and production, pipelines and oil field services.
“With more than three decades of experience, Bob has a track record of creating significant value for investors with a focus on high-quality, dividend-growth stocks,” said Gene L. Batchelder, chairman of the Board. “We are committed to growing our dividend as part our long-term strategy, and Bob’s industry knowledge and management expertise will be a great addition to our Board.”
“Occidental’s reputation for innovation and operational excellence and its strategy for sustainability set it apart in the industry,” Shearer said. “I am confident in Occidental's ability to deliver on its long-term business strategy of industry-leading returns and returning capital to shareholders, and I look forward to supporting this commitment as a member of the Board of Directors.”
Shearer holds an undergraduate degree in Economics from the University of Wisconsin, as well as a Master of International Management from the Thunderbird School of Global Management and a Master of Business Administration from the University of Wisconsin. He is a Chartered Financial Analyst.