One of the highest-paid U.S. corporate bosses lost his job Friday, as investors at Occidental Petroleum Corp. OXY +3.03% made Chairman Ray Irani the latest victim of a rising wave of shareholder activism. Mr. Irani, who spent three decades at Occidental, will leave his post at the helm of the board, the oil-and-gas company said in a statement released after its shareholder meeting Friday. The 78-year-old, who was forced to step aside as CEO two years ago over his outsized pay, recently angered shareholders by trying to oust the current chief executive. [WSJ]
Footnotes: Shareholders Gone Wild; House Bill Goes After SEC; Tax Season Complaints | 05.03.13
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