I was listening to a podcast and the discussion was with a management consultant. I think they summed up the issue with Phillips 66 and this management team:
“…the macro implications of a society that is maximizing profit is that it's going to be minimizing other goods that aren't easy to quantify.”
Under Greg, there was a balance to things—a purpose. He cared about people and the legacy of the company. Yes, he was not perfect, but you knew he cared about the company, the industry, and the people.
I believe that is gone. We are just focused singularly on making more money, trying to beat the competition, and just catering g to shareholder interests. It is interesting that, despite that focus, we are falling further behind, while also giving up the soul of the company and are experiencing an erosion of culture.
In our search for profit, Phillips has abandoned its commitment to people, developing people and taking chances on people with promise. Instead, we give people a job description and tell them it is on them to prove they have the skills for the next role. We talk only in terms of shareholder interests, returns on equity/investment, and tell people we must always be focused on beating MPC, VLO and a group of companies that the management team and board are focused on.
Am I wrong? Would like other perspectives. Is Phillips still committed to people and the interests of the communities and customers we serve?
Come to think of it, I have been with the company for 10 years and almost never hear about customers. Why is that?