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Occidental Chairman Looks to Have Lost Board Seat

Occidental Petroleum Corp. (OXY) Chairman Ray Irani appears to have lost his long-time seat on the oil and gas company's board, according to a regulatory filing the company issued Friday.The Los Angeles-based oil and gas company said Friday that eight of the 10 board members who were running for re-election got the approval of a majority of shareholders--a list that didn't include Mr. Irani. The filing said that independent director Aziz Syriani, who was close to Mr. Irani and also sought re-election, had resigned on Thursday.The company didn't immediately return a request for comment.The chairman, who stepped down as chief executive two years ago over pay issues, was under fire from shareholders wary of his lingering power. His departure would bring to a close a nearly 30-year stint at the firm.The vote followed weeks of growing shareholder discontent over Mr. Irani's effort to remove CEO Steve Chazen earlier this year and the board's handling of succession planning for the CEO post.M...

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    U.S. stock market futures fell Friday as investors grew cautious ahead of an initial reading on U.S. growth data, due later. Earnings from Chevron Corp. and D.R. Hor...

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