BIMS. Board Integrity Management System. The board of directors aren’t mitigating the risk to the share holder.

“ExxonMobil's board of directors is responsible for risk oversight. Meeting agendas routinely include sustainability topics and board members review the effectiveness of the company's policies, programs and practices.”

When the biggest risk to the shareholder IS the sustainability of the share price in the long term, due to the lack of effectiveness of the companies policies, programs and practices, is violated due to poor management and the lack of fundamental leadership at the highest levels, then the directors should be compelled to change the management or they aren’t doing the job the shareholders entrusted them with.

Short of the CEO and many senior managers resignations in this debacle, is the board doing their job?

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Agree with the last commenter. How can they get away with moving all jobs to GBCs that are low cost? (Argentina, Hungary, Bangalore, KL). All of these places are still actively hiring positions. Go look on LinkedIn.

Reporters should focus a little more on the massive job outsourcing happening right now. This should be all over the US news.

What, specifically, are you expecting the board to control? Commodity prices? Refining and chemical margins?

If Darren doesn’t resign, there is no shame.
If the Board doesn’t fire him, there is no oversight.
Dereliction of duty and fiduciary responsibility fail.
Shareholders should look past the meager dividend and hold them accountable for one of the largest erosion of wealth in history: 67% of value gone.

They are just trying to bleed the corporation dry before they exit.. times like this.. I wonder why don’t they just use the money to pay a decent severance package.. but DW has his new Performance Assessment tool to do the trick at a low cost! Who cares about hard working employees and their livelihood

This is exactly why SOX was enacted.

“Boardroom failures: Boards of Directors, specifically Audit Committees, are charged with establishing oversight mechanisms for financial reporting in U.S. corporations on the behalf of investors. These scandals identified Board members who either did not exercise their responsibilities or did not have the expertise to understand the complexities of the businesses. In many cases, Audit Committee members were not truly independent of management.”

https://en.m.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act

I take pride in being the BIMS 6-9 and BIMS 4-20 owner for my asset.

Why would the federal reserve bail out anyone outsourcing jobs.

Absolutely they aren’t!

Thread regarding ExxonMobil Corp. layoffs

BIMS. Board Integrity Management System. The board of directors aren’t mitigating the risk to the share holder.

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