Someone posted the same VH quote about the Anadarko deal before but it is worth repeating.
“We were not going to let it be taken away... This is too important for our shareholders.”
What a statement full of:
Hubris
Stupidity
Insolence
Insanity
Incompetence
Incoherence
VH and EC should be forced to yield back all pay and bonuses.
Vicki was tapped to be CEO in 2016 because Greenway (and L.A. before the HQ moved) had a history of lots of "MeToo" incidents, and hush-money payoffs to the victims.
The thought was: Having a female CEO - ANY female CEO would in some ways transform the culture to discourage #ss-grabbing. Essentially, Vicki Hollub was the Affirmative-Action hire (gender-wise). No real qualifications.
Well OXY is transformed! We are "Woke-n-Broke Petroleum".
Vikkis's Matto:
If you can keep your head when all about you. Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you
Who benefits from mergers and acquisitions? What is the benefit if any for the company? Never mind the status quo, go with what you know and experienced. You’ll find more answers than your realize.
What did they expect? Should have never been given the job! She is a petroleum engineer with no financial experience (and apparently flunked finance 101 on the fly). She trusted the investment bankers (including in-house ex-bankers OB and MU who were shooting for the moon to make a name for themselves). Worse, she let emotion shade rational thought.
Poor leadership resulting in a big loser. Retire to the kayak club already!!