Occidental Petroleum Corp.'s (Oxy) board has launched a search for a new CEO as part of the company's management succession planning process. The board has formed a search committee to review both internal and external candidates to replace current President and CEO Stephen Chazen, 65. No timetable has been set for the completion of the search. As previously announced, Oxy Executive Chairman Ray Irani, who is in his late 70s, will retire at the end of 2014.

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