If you were MW, what would you do to right the ship.
- Who would fire first? (Group, person, department)
- What would you buy?
- What would you sell?
- What’s one thing you’ll do to fix CVX
18 replies (most recent on top)
@3jek - and why would that be a blood bath for 'us'? perhaps because most deserve such a fate?
As a late joiner from a 'swallowed' minnow (who hates the outcome), I hope the Exxon thing happens. They will tear apart the pathetic Chevroid lifers and their buddy-buddy systems. Just imagine the Chevroids trying to appease the new masters by highlighting the number of physiologically safe moments they raised in team meetings each month,... Imagine the crickets when they ask - ok great, so what did you contribute to the bottom line?....
I would suggest Mike 👉🖕
@1ooa: Chevron selling to Exxon would be a blood bath for us, as they would be the leader and would assume all their people are better than anyone in Chevron. That said, it would never pass anti-monopoly approval as that would reunite just about all of the old Standard oil.
MW has committed to the BOD to turn our performance around to top quartile in three years or sell to Exxon. He is purposely fomenting chaos to look busy while guaranteeing failure so he can get his change of control package. Clever.
If I were MW, I would make sure to pad my retirement savings with oodles of stock options, deferred compensation, and post-retirement benefits (full medical coverage, lifetime security, lifetime use of the Chevron corporate jets, etc.). I would be working with the painter now so my portrait to hang in the SR hallway of past CEOs would be bigger and better than anyone else's. I would make sure to make all my Wall St. friends and hedge fund managers lots of money through continued ill-advised dividend increases and stock buy-backs.
Two chicks at the same time
I would fire anyone over PSG26 who is not either making corporate-wide functional impact annually or supervisor more than five people. That includes all the useless Advisors, Directors, Chiefs, etc. A waste of skin for the most part.
I would greatly reduce the middle management PSG’s 25, 26, 27. We are wasting a lot of money on these people who provide no ideas whatsoever. Constantly just trying to cut a buck to justify their position. Get rid of most of them first and then when the ship is righted and can actually float, we can work on the actual ship itself! I can’t believe how they homd the majority back just to keep their coffers full.
Double down on Oil and Gas. Focus on exploration by promoting proven oil finders and buying companies with new assets on their books that can be used to leverage new discoveries (not old, almost dead, fields). Oil and gas will remain our key money generator in the near and mid-term: Long term the future is fusion.
Fire every woke marxist that has diversity, sustainability, ESG, or inclusion in their job title.
Eliminate all of the identity employee networks that are divisive and waste time.
Fire everybody who has pronouns in their email signature.
Scrap CNE, and blackball every traitor who joined that greenwashing money pit. Unapologetically go all-in on oil.
Shut the valve from El Segundo to LAX until DOGGR issues permits to Chevron’s California assets.
Everyone in the “layer of incompetence” below him. Except CP who seems to really understand the business.
2/3 Nothing. Maybe the Bakken while it is still worth something.
4 slash and burn the center. For whatever reason it just doesn’t work for Chevron. We are built on the business unit model and need to leave them to it.
sell off the lubricants business
Get us out of Latin America as it has never been significant and never will.
Merge with Exxon. Our assets and their execution would be unstoppable.
Slash and burn the central groups and CNE. Focus on where the money is made.
Retire
Shut down GoM, fire every last S-B and make a ton of profit.
Fire IT
Buy Coterra or Phillips 66
Sell RBU
Focus on being profitable