Headquarters of Occidental Petroleum Corp. in Westwood, Los Angeles. Occidental's Ex-GC Got $4M Pay Bump, Lucrative Consulting Deal
Marcia Backus was succeeded last fall as Occidental Petroleum's legal chief by former Marathon Oil general counsel Sylvia Kerrigan.
March 27, 2023 at 02:31 PM
3 minute read
Lawyer Compensation - In-House
Occidental Petroleum's retiring general counsel Marcia E. Backus struck a gusher on the way out the door last year, when her total compensation rose to $9.12 million from $5.2 million in 2021.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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