Stephen I. Chazen is the CEO and Chairman of Magnolia Oil & Gas Corporation, bringing over four decades of experience in the oil and gas industry. His career includes a significant stint as President and CEO of Occidental Petroleum from...

Stephen I. Chazen is the CEO and Chairman of Magnolia Oil & Gas Corporation, bringing over four decades of experience in the oil and gas industry. His career includes a significant stint as President and CEO of Occidental Petroleum from 2011 to 2016, where he moved up from roles in finance and operations. Chazen holds impressive academic credentials: a PhD in Geology from Michigan State University, an MBA from the University of Houston, and a bachelor’s degree from Rutgers. Beyond his corporate achievements, he has been active in various boards, such as the American Petroleum Institute and the National Park Foundation. Chazen has made strategic moves in leadership, impacting investments in oil exploration and production. His unique blend of finance and geological knowledge helps him steer company strategy effectively, shaping the direction of Magnolia Oil & Gas in an ever-changing market. It's not just about numbers for Chazen; his journey illustrates the interconnectedness of finance, energy, and effective governance.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Occidental Petroleum CEOs

O

Stephen I. Chazen

Ex-CEO of Occidental Petroleum

Education

PhD in Geology from Michigan State University, MBA from the University of Houston

Sector of Economy

Energy

Born

January 1, 1955 - 70 years ago

CEO of Occidental Petroleum for

4 years 11 months (May 2011 - Apr 2016)

Previous Experience

Chief Financial Officer of Occidental Petroleum Corporation

Rivals

Competitors/colleagues of Stephen I. Chazen

E

Darren W. Woods

CEO of Exxon Mobil

2023 Compensation

Stock

$23.20M

Salary

$1.88M

Bonus

$4.79M

Other

$5.92M

Total Holdings

$204.10M

D

Kaes Van't Hof

CEO of Diamondback Energy

2023 Compensation

Stock

$450.00K

Salary

$950.00K

Bonus

$300.00K

Other

$50.00K

Total Holdings

$16.35M

E

Ezra Y. Yacob

CEO of EOG Resources

2023 Compensation

Stock

$0.00

Salary

$1.17M

Bonus

$2.52M

Other

$373.14K

Total Holdings

$22.37M

C

Michael K. Wirth

CEO of Chevron

2023 Compensation

Stock

$17.23M

Salary

$1.85M

Bonus

$2.61M

Other

$436.45K

Total Holdings

$11.17M

B

Warren E. Buffett

CEO of Berkshire Hathaway

2023 Compensation

Stock

$0.00

Salary

$100.00K

Bonus

$0.00

Other

$313.60K

Total Holdings

$162.98B

T

Carlos Abrams-Rivera

CEO of The Kraft Heinz Company

2023 Compensation

Stock

$4.71M

Salary

$800.00K

Bonus

$2.26M

Other

$488.03K

Total Holdings

$19.28M

Holdings

See how much did Stephen I. Chazen make over time.

Stephen Chazen’s holdings in Magnolia Oil & Gas show his commitment to the company. At one point, he had significant investments in Occidental Petroleum, where he was previously President and CEO. The transition to Magnolia saw fluctuations, reflecting both market...

Stephen Chazen’s holdings in Magnolia Oil & Gas show his commitment to the company. At one point, he had significant investments in Occidental Petroleum, where he was previously President and CEO. The transition to Magnolia saw fluctuations, reflecting both market dynamics and his strategic decisions. Over the years, he has evolved from being heavily invested in Occidental, where at one point his wealth was tied to up to $11 million in stock awards in 2015, to focusing on Magnolia's growth. His holdings are indicative of his confidence in Magnolia's potential as a rising player in the oil sector.

Total Stock Sold

$29.29M

OXY

$29.29M

414,000 OXY shares

What if they kept their stock?

If Stephen I. Chazen didn't sell their stock, today they would have:
Extra OXY414,000 shares worth $6.36M.
This is -78.29% and $22.93M less than what they got when they sold the stock.

Charitable Transactions

OXY

427,900 shares

OXY

Recent Charitable Transactions

OXY

25,000 shares

OXY

Feb 21, 2017

Charity

OXY

20,000 shares

OXY

Aug 30, 2016

Charity

OXY

35,000 shares

OXY

May 10, 2016

Charity

OXY

55,000 shares

OXY

Dec 1, 2015

Charity

OXY

40,000 shares

OXY

Dec 31, 2014

Charity

OXY

22,000 shares

OXY

Dec 31, 2013

Charity

Insider Trading

See recent insider trades of Stephen I. Chazen.

OXY

5,360 shares

OXY

May 9, 2022

Received

OXY

$515.20K

OXY at $25.76/share

Aug 9, 2021

Purchase

OXY

12,580 shares

OXY

May 10, 2021

Received

WMB

6,892 shares

WMB

Apr 27, 2021

Received

OXY

18,248 shares

OXY

Jun 1, 2020

Received

WMB

8,726 shares

WMB

Apr 28, 2020

Received

OXY

4,383 shares

OXY

Mar 19, 2020

Received

WMB

$239.30K

WMB at $23.93/share

Aug 5, 2019

Purchase

WMB

$273.28K

WMB at $27.33/share

May 20, 2019

Purchase

WMB

6,120 shares

WMB

May 9, 2019

Received

Compensation History

See how much did Stephen I. Chazen make over time.

In 2015, Stephen Chazen’s total compensation was nearly $6.8 million, a good chunk from stock awards based on performance metrics that aimed at benefiting shareholders. However, by 2016, in the wake of transitioning from CEO to a strategic advisor, his package changed considerably, dropping to about $3.28 million, primarily from salary and accrued benefits with no stock awards. This shift highlights how compensation can be tied closely to leadership roles and the strategic vision of a company, illustrating the need for alignment between executive pay and company performance over the long term.

Year

2016

Total Compensation

$3.28M

Salary

$1.00M

Board Justification

The compensation philosophy for the CEO is designed to align with company performance and shareholder interests, focusing on long-term value creation and retention of key executives.

Bonus

$0.00

Board Justification

No annual cash incentive was awarded to Mr. Chazen in 2016 as part of an agreement with the Board due to his transition from CEO to strategic advisor.

Other

$2.28M

Board Justification

This amount includes payment for accrued but unused vacation and other benefits.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock awards vested for Mr. Chazen in 2016 as he did not participate in the long-term incentive program for that year.

Performance Metrics

Mr. Chazen was not eligible for performance metrics in 2016 due to his transition from CEO.

Other Occidental Petroleum CEOs

Here are other CEOs of Occidental Petroleum

Ray R. Irani

Ex-CEO of Occidental Petroleum

January 1990 - April 2016

Vicki Hollub

CEO of Occidental Petroleum

April 2016 - Present