What is it with the incompetent leadership of this company? One poor decision after another has destroyed shareholder value as the leadership team celebrates this lousy Conoco deal.
5 replies (most recent on top)
Unfortunately incompetency at the CEO level tainted recruitment in mid-management levels.
Perfect timing to start laying off mid/sr level as well and get more competent management throughout if this company is going to survive....the stink bids are coming for the assets and the entire company, because each day this gets uglier for shareholders having to pay higher than industry average salaries for entitled non-performers that fail to realize major mistakes
CEO and Board of Directors should pay the price for this. They should be penalized by removing their bonuses and all salaries. Their decision affected hundreds if not thousands of Canadians, that work (or worked) for Conoco and Cenovus. Challenging days are still ahead.
Having 18B in a pocket the smart CEO would have done a completely different job by acquiring assets outside of Canada, this would have created jobs IN Canada for people.
Complete destruction. Why people like Ferguson become CEOs? Because they have good public speaking qualities? But no brain?
And they will award themselves big bonuses for completing the deal! Next year's circular will make interesting reading for shareholders who have seen their investments eroded.
You have to admit that was a superb acquisition. Share price down 30% since the deal was announced with wti prices at exactly at the same level. Well done Cenovus leadership.
That's harsh