Ryan Lance made $ 27 million and by firing him, the company can save 270 jobs. There is whole bunch of people like Ryan in COP that are incompetant and ned to be gone. That would save many ordinary jobs..
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The dividend is safe................nothing more needs to be said
This is so funny, "fire the CEO" or "Ryan should work for no money if he is concerned about the company?" BAHAHAHA that is the best comment I've read so far.
I am a low level individual contributor with the company and I think the Leadership Team is doing the best they can. So your suggestion is to fire the CEO, guess what they get to pay the next CEO? lol unless you are offering up to step up and work for free as well??? Didn't think so, have a seat and trust your Company or find a new one :)
Who's the idiot that posted Ryan Lance's biopic? What does that have to do with this discussion?
Let's be realistic, we live in a Capitalist era. The rich only cares about getting richer. Of course that happens on the account of us, the working upper middle class society - a layer that will soon vanish as it gets forced down the food chain to poverty.
These are the rules of the game that we all accepted, or at least never objected to.
The heroic times are long gone. A CEO sought that position so he can make endless amount of money, not because he cares about the company as an entity or about the people who earn their living by working for it. He only cares about the shares of the company, because most of the compensation package he gets is in the form of shares and options. Forget base salary, that is peanuts for him. The real prize is in the large sums of shares and options.
No wonder every effort is being made to prevent the shares from taking a hit, but they end up getting hit anyways (thanks to the unwise decisions the fearless leader has taken... ironic!).
Give your mind a break, Mr. Lance will neither step down, nor take a pay cut of 1 pennny.
The mess conoco is in is because of Mulva. You don't split upstream, midstream and down stream and think you can remain profitable. There is no support to help through the lean years. I am glad I left Conoco for Phillips 66 2 years ago.
They could have hedged the futures of the company at $80 a barrel instead of getting greedy and going for the $100 and that might have lessened the blow.
Yes HR and Ethics are corrupt at ConocoPhillips. An ethics investigation associated with HR issues is merely an opportunity for the company to collect information to better support HR. In the end the employee is terminated with a notification sufficient information exists to support ConocoPhillips. Sheila Feldman worked to clean up HR and Ethics and now is no longer with the company.
If Ryan is genuinely interested in COP, he should work for no salary or bonus till the mess (ENSCO, etc.) is clear and stock is back where it was in 80s. I challenge Ryan to take up on this challenge and return the money to COP so more ordinary jobs could be saved. I also think that all highly paid executives and managers should follow this.
This suggestion is definitely the common sense for the rest the world except those big shareholders and Ryan himself. Ryan made decision to raise share dividend regardless the negative net profit for the company and the consequent 2nd phase workforce reduction. It is so obvious his job is to ingratiate those shareholders who secure his butt in the CEO office so that he can easily make $27 million no matter how bad the macro environment is. And right after this 2nd round layoff, he and his leadership team will receive salary increase without a doubt. Shame on these smelly butt guys!!!!!!!
Go Montana Tech
Leads the company in driving a unique combination of organic growth, financial returns and an attractive yield
Ryan Lance, Chairman and Chief Exectutive Officer
Ryan Lance is chairman and chief executive officer of ConocoPhillips, the world's largest independent exploration and production company based on production and reserves. He has held this position since mid-2012.
He and his executive leadership team strive to make ConocoPhillips the company of choice for all stakeholders through a commitment to safe and responsible operations, sustainable value creation and a compelling company culture.
Ryan is a petroleum engineer with 28 years of oil and natural gas industry experience in senior management and technical positions with ConocoPhillips, predecessor Phillips Petroleum and various divisions of ARCO. His past executive assignments with ConocoPhillips have included responsibility for international exploration and production, regional responsibility at various times for Asia, Africa, the Middle East and North America, and responsibility for technology, major projects, downstream strategy, integration and specialty functions.
Previously Ryan spent 17 years with ARCO, ultimately leading the Western North Slope operations in Alaska after serving in management, engineering and operations positions.
Ryan is an advocate for charities benefiting youth through his service on the board of Spindletop International. Ryan also serves on the board of directors for the Montana Tech Foundation and the advisory council of the University of Texas Energy Institute.
He is a member of the Society of Petroleum Engineers, and earned a Bachelor of Science degree in petroleum engineering from Montana Tech in 1984.
HR is a very corrupt organization at COP. Also, there are several supervisors (HSE and Midcon) and managers who need to go. This would be the first step in cleaning up the organization.