Cenovus posts $784M profit.
Suncor post $2.43B profit.
10 replies (most recent on top)
Husky rules
The more Husky people are in management, the more we will get sucked into a rabbit hole. Husky paid a price because they couldn’t manage their costs. Now Cenovus is getting in trouble. Yes, we have a profit but we are very inefficient. Too many accountants, contract admins and IT analysts from Husky
Sound like a problem with the profit margin. More layoffs on the way!
Q4 Production:
Cenovus 806,900 BOE
Suncor 766,000 BOE
Cenovus profits 1/3 that of Suncor on higher production.
Result - Alex steps down.
Last time an accountant ran Cenovus ( good old Brian) he almost bankrupted the entire company. An accountant is not an operational person. They’re numbers and that’s it. Has Jon ever run an asset or a team with operations? Does he know what it takes to do it safely and effectively? No he has crunched numbers his whole career and that’s it. There’s a somber mode around Cenovus today.
He's been COO since the Husky Purchase.
You think AP was truly running operations as CEO? Or JM as COO for that matter?
Ok so now JM will be taking over I don’t feel optimistic.
Why giving a CEO role to an accountant
Counting money is not managing operations
Pull yours out first.
I love how they are setting us up to fail on Q1 with a billion dollar tax impairment. Then the $4 billion dollar debt target we were in reach of is now a year off pretty much. Great job by the CFO now CEO Jon. We are so so screwed.
Nothing else to add…. Let’s compare CFOs