With the sudden “retirements”, move, etc seems like maybe the board told Mikey to get his act together…DO BETTER
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Definitely feel the heat in he-l 🔥🔥🔥
He'll feel the heat during his first summer in Houston
@1dqd+1tOikDSs Yes, MW was not his usual self on CNBC. He was on after DW from Exxon too. Quite a contrast. He’s no longer CNBC’s darling. CNBC commentary that day was basically “Gee, WTF happened to Chevron”. Also funny to see DW looking calm and confident in his Exxon office, while MW is still using a California landscape background on the same day he says “F U, California”. MW is lost. He seems genuinely surprised his grand strategy isn’t working. Can’t be his fault though. Must be the underlings.
Last week's announcements remind me of a struggling football coach that cans his offensive coordinator hoping that will turn things around. Usually the head coach himself is out the door by end of the next season.
Funny he wrote a memo on ex CEO's legacy few few weeks ago! Soon there will be time to have someone fair writing his legacy: " missed Anadarko/Oxy opportunity, disastrous TCO FGP delay and budget overruns, Hess Fiasco [will not go through by the way], constant Gorgan and Whitestone operational LPO, useless woke agenda with no measurable value, catchy initiatives that were not suited for an oil company business model [Agile, MFO, etc.] and slowed down drastically functionality/long term profitability, blind short term focus and have no vision for the long term, not being able to have a competent exploration team to discover anything while smaller companies with way less expertise did it at the same time period, lack of risking, trying something new yet logical, and the list goes on and on and on."
Mike looked shaky on the CNBC interview, not what we normally see with him. Hess deal doesn't seem to be going well.
When execs leave Chevron for greener pastures, which is rare, they don’t call it retiring. Guaranteed these were forced moves. Someone please keep an eye out for the parachutes they got. Certainly there were 7 figure parting gifts.
At least one of the names slated for retirement made it a abundantly clear they wouldn't leave California.
I wouldn't be shocked if the other retirements were also related to personal choice.
The good execs loved cali. They may have chosen family, friends, and lifestyle over another few years of grind.
NH will move on to another company according to his note to the OPG workforce. He was definitely either forced out or didn't like the direction things were going
MW protected himself and has shifted the blame. Company performance and culture declining has clearly been a result of MW.
All 3 "retirees" were not near normal retirement age, and all were MW personal choices. All were less than 8 years in position. Can you say "sacrificial lambs"? Purge? Best of luck to their replacements, but on day one they're going to be bailing water out of a sinking ship.
Yep, and he told the board it’s the employees fault.