Carl Icahn Gets 10% Stake In Occidental Petroleum In A Bid To Overhaul Management


An activist investor Carl Icahn has increased his stake in Occidental Petroleum Corporation (NYSE: OXY) to 10%, the Wall Street Journal reported Wednesday.

What Happened

Icahn held about 2.5% stake in the oil company at the end of 2019 but recently increased his stake as Occidental's shares dropped following the wider dip in oil prices.

The Icahn Enterprises founder has frequently expressed his disappointment with the Occidental board of management and its chief executive officer Vicki Hollub, especially after the company's $38 …

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