Dr. Ray Irani will step down as CEO of Occidental Petroleum in May, but will continue as Executive Chairman until the end of 2014. President and COO Steven Chazen will take on the additional position of CEO. The board also restructured executive compensation, which produced levels well above Oxy's peer groups. Irani's equity compensation for 2011 is capped at $25 million and Chazen's at $20 million. The company also appointed Howard I. Atkins, CFO......
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