If the Hess acquisition fails will MW and MN finally be fired, aka "retire"? They have completely lost the trust and will of the employees. I would hope the board would wake up and give us a fresh start with hopefully a decent CEO that knows more than layoffs.
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@g3: Actually scorecard is mixed and not too bad overall.
Anadarko - Smart choice to not overpay. Oxy still staggered by debt to do deal.
Hess - Not over yet. Withholding judgment. We’ll know soon enough.
Kazakstan (Russia risk) - A bell cow for decades. Big decision for Mike is do we stay?, Venezuela - GK/AM stuck us there with decision to loan to PDVSA. Long-dated option.
BBLT - Tragedy.
Israel - Bargain acquisition during covid. Smart move when others could not act.
Consultants - Not a fan.
Much better track record than JW with Gorgon/Wheatstone/ALNG/EGTL fiascos, horribly timed Marcellus and Kitimat LNG acquisitions, lack of capital discipline.
@dv Anadarko, Hess, Kazakstan (Russia risk), Venezuela, BBLT, Israel, 25 year old consultants advising….looking good Mike.
@dy “quit playing the victim”
JG will be the next CEO
Just like when MW was fired when Anadarko fell through?
@cf Historically, the CEO is expected to have a seven to ten year run for continuity. If that holds, MN is already too close to retirement age. So, the next CEO would be an individual in their 50s.
MW is gone soon, regardless of HESS acquisition or not. MN will be the next and make move to buy BP and after that he is done/aged out. Then what EB should be ready?
I agree with your first sentence a lot.
BOD=>Rubber Stamp
BOD already extended MW to “see through” the acquisition. If it succeeds, he did his job, retires and gets a nice bonus. If it fails, he retires and gets a nice bonus. MW is just the face of the operation, the decisions are all made by the BOD. If they are still here, the same sh-t decisions will be made, they’ll just hire some other clown to be the face.
MW was already supposed to be retired, its all gravy...no loss for him