Just noticed online that DW was given 205,000 shares on 24 November 2020.
That is just before the layoff due to EM poor performance and planning of our senior management. I recall that EM management had a lesson learned at our previous layoff to staff up for peaks with contractors then proceeded to staff up for the peak with an employee hiring binge.
Seems the management at the top are committed to giving each other millions of dollars despite poor performance. Should be illegal.
Giving 200,000 shares compensation for such a disastrous performance seems unethical.
Only justification for such payment to DW would be if it was labeled PIL.
Human Filth
Late last year we were told in a meeting what was said in a higher level meeting. The shameless bonuses that DW and his colleagues got when the company was on the brink and the employees were forced to accept one sacrifice after another was that “those who will take out of this ho-e need to be incentivized”.
This was directly mentioned by a Congress person (AOC?) just yesterday under Sworn Testimony.
Directly to Durwood: "What basis, when your company was borrowing money, led to those 200,000 shares of stock, Mr. Woods?"
Response: "There are many parameters that go in to executive compensation."
If I was the Chairman of the Board, I'd have walked the CEO down a plank.
Mr. Chairman, DW - why do you succor the stupidity of the CEO, DW?
Well, the chairman of the board usually has to approve CEO compensation, and…oh wait a minute. Oops.
Destroying the company and workforce then rewarding yourselves with multi million dollars the same week you approve layoffs may be legal but it is unethical.
DW and his multi million dollar thrives should be fired for ethics violation for this.
@agu+1dxuytZ4 This guy missed the news about a mini hedge fund who bet on the dissatisfied shareholders and took over almost a third of XOM’s board. LOL
Well firstly if a majority of the shareholders didn’t want them to do that they wouldn’t have. Or they’d have already been let go of. I mean I don’t like them at all but that’s how companies work. Second is that’s how every other company operates? Big or small execs are greedy everywhere. Welcome to capitalism. Even the CEOs that “took no pay” during covid did just fine. Zuckerberg has never had a salary over $1 but he seems to be doing just ok financially. Tesla continually lost money and they gave Elon billion and billions of dollars of stock. Even now they still don’t make money on cars, just on green credits.
Sleeze bags...
One of the reasons I got out was the unbelievable way the C Suite rewarded themselves yet hung everyone else out to dry. Borrowing to pay the dividend since it lines their pockets with millions along with the bonuses while layoffs and PIPs were happening was just too much for me to swallow and I no longer respected the company nor wanted to work there any longer.