Richard Jackson will become CEO of Occidental Petroleum on June 1, succeeding Vicki Hollub upon her retirement. The Houston-based energy producer announced Friday that Jackson, currently chief operating officer, will also assume the title of president, marking a leadership transition at one of the largest U.S. oil producers.

Jackson joined Occidental in 2003 in its Middle East operations and has held various leadership and technical positions of increasing responsibility since then. As COO, he has focused on delivering value through resource improvement and cost efficiency, improving well performance, focusing on organic development, and applying innovative technology.

“I am grateful to be appointed President and CEO of Occidental and excited about the opportunity to execute from the strong position and capabilities that we built under Vicki’s leadership,” Jackson said. The transition comes as Occidental continues to navigate a volatile commodity price environment while seeking to optimize its Permian Basin operations.