Time for hard nose disciplined L. Raymond to correct 10 years of mistakes.
11 replies (most recent on top)
Guessing he wouldn’t be putting inclusion and diversity over performance and profitability.
He died?
Why not Rockefeller?
Exxonmobil needs to bring in fresh blood from outside of the corporation, otherwise, they all think/act the same.
I think you make some good points. Exxon doesn’t need bullying or arrogance in their leadership. Their greatest asset is truly their talented, dedicated, and hardworking people. There will always be some that don’t contribute, but they a very few in number. Energizing and motivating the workforce is key to future success. Silly videos and letters from senior management won’t do it. It will take thoughtful decisions, honesty, and a lot of good communication with the workforce to turn it around. Can they do it? I honestly don’t know.
An typical exxon a–hole, Climate-change denier, and bully is exactly what we need ...NOT.
The Raymond culture is largely to blame for the outcomes of their breed of leadership.
If Exxon has any chance of navigating the new world, and perhaps more importantly EARN BACK TRUST of investors, employees, and analysts, it must go with an independent CEO, hopefully external to the inbred executives, and not a clone of the old guard.
Even Bruce Lee cannot save the corporation from blood s—ing ninjas working here.
Look at the extremely poor quality and lowly human attributes in everyone who is involved with even the lowest levels of management specially supervisors.
VPs and Presidents are like evil dragons except dragons and monsters can think while these id–ts have no brains.
Let’s be honest, Lee Raymond was not the most personable guy in the world, but he was darn smart and kept the company on a strong foundation. Let’s recall 2005 when he retired. Fortune #1, Largest Market Cap, AAA credit rating, Dow leader, strong stock price. And now, none of those. To be fair, the pandemic is an unforeseeable event that could not be planned for. But the truth is, ExxonMobil was in trouble well before the pandemic hit. The reason; 15 years of very bad investment decisions by senior management. Tens of billions of cash spent on projects that will struggle to ever make a good return. XTO. Kearl Lake. Thunderhorse, Kashagan. Alaska, Gorgon. Russia. China. You just can’t make that many big mistakes and still be a top performer. Then Covid slammed the industry, and you have to borrow to pay a dividend you can’t afford. It’s An unfortunate situation, made more unfortunate because now benefits have to be cut, and some good employees will have to be let go. All because the guys at the top. making the big bucks screwed up bad. Sad really.
https://www.google.com/amp/s/www.nytimes.com/2020/04/24/opinion/chase-lee-raymond-exxon-climate.amp.html
Agree - independent is the way to go
Too late..
Nope. Independent Chairman is what we need to flush out the trash