For an organization that makes no money the number of GM’s (all grade 28 I assume). Is astounding. For all of MW penny pinching he has been very generous here.
I wonder what grade 26+ count in upstream is v/s CNE.
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I’ve had to interact with many CNE people and it’s a joke from top to bottom. And the projects are vapor. Makes me sad as a shareholder. Just hope it’s canned soon and the bleeding could stop
CP spoke with ES at the FDS townhall today. Still wore a suit but took his jacket off, nice touch. Way more technically competent than the poster below implies. Regarding the Country Club, agree, that floor is odd.
CNE is just a Chevron country club. Here we put high-pots and wunderkind who don't fit in with traditional roles, to see if they accomplish anything. Of those who do, half (the better half) are wooed away to other companies, the other half become entrenched in Chevron management. Those who don't accomplish anything will continue a merry-go-round career of every-two-years transfers to meaningless BUs.
CNE needs to be top heavy because they are mostly evaluating and purchasing technology. There is nothing for worker bees to do, except help with Powerpoint slides or make coffee.
Not sure the take below is right. Do we have senior enough people in the roles is the question. XOM has the JG equivalent leader but then two at the President Products (AW) / VP Corp BD (FM) Level reporting to him.
Hugely top heavy and take a look a this crew. JG is of course the most passive aggressive senior leader since the former JG left the company after his major sc--w (1 of 100’s) up at the CTC Townhall. AK was brought in from the outside, we way over paid to attract him in for a business that is a minimum of 10 years out and our senior execs seem to be taking an extremely conservative approach to. CP is the ultimate “manage up” butt kisser who nods his head yes to everyone left and right but then never lives up to commitments. BH is chasing microbes in the soil and some trees. Outside of BB Carbon Capture project which has huge issues/challenges with partnership, what of any real substance has CNE done in the 2 years since it was formed??? But look at the budget - opex and capex. Me thinks they are spending money on opex hand over fist for high PSGs (hey, we are a “start up company”) baristas on site for their own special coffee (we are a start up company) and fancy paintings on the walls (we are a start up company). Then I love how some of them - CP in particular - can’t walk around during the day without “playing the power card” by wearing a coat around all day (even on Fridays) - hey we are a start up company and have to look the part. Well, look at a lot of start up companies that made it big and NONE of them looked or acted like CNE………..this company continues to lose “focus”………
@arlt, yes I remember JW used to talk about BB like Bill Gates and Steve Jobs rolled into one. Again, nothing came out of Tech Ventures. Just like New Ventures on the exploration side. Both just posh country clubs for the Chevron elite.
Tech Ventures has been a colossal failure. Just a perch for BB for a decade, talking mostly.
Chevron has a long history of setting up "trendy" organizations that have little to no chance of gaining traction. CNE is just the latest example. It's all just greenwashing for the radical stockholders. Also gives now-career-plateaued JG a plastic throne to sit on the rest of his career. Everything CNE is charged with can only succeed with outside initiatives. Want proof? Just look how Chevron Technology Ventures (bascially CNE without green shading) has been throwing away money for nearly 25 years and doesn't have a SINGLE profitable product or process that came out of it. The more things change, the more they stay the same.
Bk is still likely to go behind JG….. JG will go behind EB when she takes over as CEO. Given BK had “sustainability” in his current title, he’ll get the nod in a few years to assume CNE.
Everyone thought BK was being groomed / set up to take over CNE. Guess not. Who will inherit this now?
Another losing idea. Same ole same ole. The way we solve our problems is by firing the people who come up with these losing ideas.
I thought they were meant to be a "lean startup"
It’s a greenwashing PR stunt, staffed by NPCs who believe in the climate cult or those who have zero self-respect.
What has been communicated to me, is that this group will be a loss leader that generate good PR only for the company.
Opex/bbl with declining bbl.
Been there, wasn’t pretty once the started putting that chart up you knew to tighten the a**hole …
Parts of the company that do not have to watch expense metrics like Opex/bbl can have some pretty fabulous budgets for perks and travel. I recall some mind-blowing office spaces for groups like exploration, legal, planning and BD. Good times.
I like their coffee bar and barista. So nice that they have one but actually money making parts of chevron get the burnt junk coffee from the drip machines.
Most of the GMs are either PSG 27 or 28.
Too many chiefs and not enough braves gaurentees excessive politics and poor outcomes.
All of the GMs in the world will not make up for bad tech.
All the big wigs to the boilers of the sinking ship. How to move a hydrocarbon company beyond petroleum!
Is JG the right person to be leading CNE?
The last time I can remember Chevron trying to set up a new high level organization, was Chevron Global Gas. And we all know how that worked out...
Maybe I am a bit cynical here, I think most of them know CNE will crash and burn a few years from now. Most are just along for the ride milking it while they can.
They are actually a mix of PSG 28-30, like most GMs.
Not the OP, but there are no assumptions here, just look at the org chart. It’s actually a very good observation. Many GMs with a handful of individual contributors reporting into them. Also, these GMs seem to just be at speaking events all day instead of establishing an accretive cash generating business for the companies future.
What is the basis of your assumption?
Also, Chevron had to bring a lot external talent for CNE scope, people who were at the top of their organizations. So to attract those people, motivate to change companies, you have to offer tangible benefits, including LT roles. It is the rule of the game everywhere.