ExxonMobil's CEO and chairman received a fat stock bonus rewarding himself for positioning the company where it is today. By all measures of meritocracy, his performance was lousy. Meanwhile, hard workers who did their best every day to make a difference were laid off, first in disguise by manipulated and obscure performance parameters, then openly based on skills and fit with the company. Why would anyone still want to work for a company embracing this type of leadership?
12 replies (most recent on top)
You have to decide what is important to you. People are at different stages in their lives. Some people can take more risk than others.
Xom has not been #1 for a long time.
OP: So what is your point? DW should give you all his money to the lowest CL ? or should you give all your money to charities instead of complaining?
Why should XOM be any different than just about any other major corporation in ameriKa.....today?
3 Step Process to Survive now:
1) Learn the rules.
2) Play the game
3) Do the "Rope A Dope," until it's your turn in the proverbial barrel.
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Two affects taking place. First is supply and demand. Potential for increasing demand with Covid vaccine, and potential for reduced supply with production curtailments due to Saudi and Russia led agreements.
Second affect is EM response to crisis by reducing expenses (including personnel cuts) and dramatic reductions and greater focus in capex.
So, yes, EM’s actions do play a key role in stock price recovery and future outlook. The more expense, debt and capex discipline EM displays, the greater confidence investors will have in the company regaining value.
Simple financial facts. Let the downvotes begin.....SMH
You really think Exxon stock is doing well because of something DW did? Jesus
XOM just got upgraded again this week by analysts. Thanks to the boss and his wise decisions XOM is still number one.
Darren Woods is nasty..
Good one! But it is very rare. Don’t get your hopes up. LOL
Never imagined I would actually learn something from this site
Op, very passionate words, but you heap praises on the beloved CEO by calling EM a meritocracy. That means ruled by the best based on talent and ability, hence “merit” in the word.
The opposite of meritocracy is kakistocracy, or the rule of the worst.
Webster
Sounds just like McDermott. Except the bonuses extended to the EXCOMs and 1000 other "key employees" to the tune of almost 100mm after running the company into the ground and leaving shareholders out to dry last year. Such a disgrace.