Saw that Target Stores recently got rid of two DEI champions - one of whom was Targets Chief Legal Officer and Chief Compliance Officer. Maybe the time has come Phillips.
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DEI is smoke and mirrors at Phillips 66. Everyone in real leadership positions are white men. Look at almost every ELT, more white men. When we lay off employees it’s women.
Why are y’all pressed about DEI when the ones running the company are old white men? EEO stats - 80% male, 72% white, per the last sustainably report. And as the other poster pointed out, decision makers are not the DEI candidates. They have no PnLs. If you’re still not convinced, just look at the leaders group in CMLVA.
Honestly, if we had to replace BM, RH, DB, ML or KM from internal candidates, who is on the bench? More white men.
We had to go externally to get DEI candidates and skew the ELT so we can optically be seen as DEI forward. Not because that’s who we are.
Yeah I chose my gas station based on their DEI score.
@cj a bunch of MAGA loving folks may not like what you said…..but it is the cold-blooded truth.
Robby Starbuck and his ilk took Target hook, line and sinker. Threatened boycotts amongst his cult only to NOT patronize them AFTER they pi---d off their left-leaning customer base by running scared - resulting in what’s effectively a boycott from that end from the left. You almost can’t make this up.
Now Target is stuck looking like a waffling bunch of wimps who don’t quite know what they stand for. They now have a real problem. Elliott will likely come knocking after a couple of more quarters of poor performance 🙄🙄🙄.
Although Phillips’ attempt at DEI is totally and completely performative (you’ll NEVER see a person of color in one of the EVP P&L roles (ie held by DB, BM or RH……note where renewables went after ZG left) or in the CFO role at Phillips…..mark my words) , walking it back now makes no sense given that the ELT members “of color” brought in over the last 3 years (in senior functional roles only) all simply replaced other diverse candidates, who were in place “pre-wokeness” ie mid - 2020.
Best to attempt to behave like Costco-have conviction and stick to it. Note how they stuck to their beliefs…….and their sales are booming, from both the MAGA and AOC crowds, and everyone in the middle. Mr Starbuck has been awfully quiet about them since some initial bluster-and will assuredly remain that way.
(that said-Phillips is far from being Costco, both relative to shareholder returns over the last 5 years, treatment of employees and customers/counterparties, true diversity amongst P/L leaders in the company (anyone senior in the pipeline at Phillips either left or was run off over the years since the split), and in many other ways.
But it’s likely best that Phillips continues to convincingly fake it……..vs being Target and changing with the wind).
I see Bobsled Boy is reading the Layoff. Welcome And3z!
We won’t back away as I understand our CEO is bought into DEI hook, line, and sinker.
Yeah because Target is who we want to model right now... What a braindead take.
Target turning away from DEI is what has caused their stock and sales to slide so much over the past 3 months. Pi----g off your core customer base typically does that