Proxy Blog

Occidental Petroleum Corporation 

April 18, 2021

The annual proxy for this oil company had the following proposals: 

  • Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 

Magni voted for and against proforma proposals: 

  • For and against directors – The disclosures meet the criteria in Magni’s policy on election of directorsThat said, Icahn has three representatives on the board. We voted against two of the three nominees. Since there is one and only one female director among the non-Icahn appointed nominees, we voted for the female nominee on the Icahn slate of nominees. 
  • For auditors – The company meets the criteria in Magni’s policy on auditor ratification. 
  • Against advisory vote – The disclosures in the proxy did not meet the criteria in Magni’s policy on the advisory vote.