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Occidental Petroleum sets low-carbon business targets for CEO's bonus

HOUSTON, March 26 (Reuters) - Occidental Petroleum Corp will tie results achieved in the company’s low-carbon business to its chief executive’s cash bonus this year, the oil and gas producer said in a securities filing on Friday.

Occidental increased the weight assigned to its emissions reductions and low-carbon ventures unit to 30% of CEO Vicki Hollub’s target bonus, according to its proxy filing.

Hollub’s target compensation for the year was reduced by 29% from its pre-COVID-19 levels, the filing said.

Reporting by Gary McWilliams Editing by Chris Reese

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