It’s clear the money he spent on buying back shares would have been better kept on the balance sheet for the next downturn. To actually invest in real projects.
He went for short term gain and prioritised his own bonus and it’s unravelling. As we’ll probably hear tomorrow.
In the meantime he’s destroying the company and fired 20% of the real workers fund it. How can he stand up in front of us and waffle the rubbish he does? Worst ceo ever. Literally no clue.
He obviously doesn't have a sack of any kind, so, yes, let's give him a sack.
Well yes
Shell’s last major acquisition was financed by issuing shares.
why wouldn’t you make sure you have some money left over after stock buybacks and debt if you wanted to wait to buy stuff cheap at the bottom?
in other words, there are no signs of truth in your idea being a real company plan and there is no cash to execute it anyway
What about all the promotions for Lebanese cronies?
It's so obvious because there are not many, but all are getting pulled up way beyond their level of competence.
The answer to the last question on the Q&A session on the conference call was interesting. What does the CFO mean by the second part of the $5-$7 billion cost reduction will be about the way we run the company? Does that mean portfolio divestment or staff reduction?
https://youtu.be/smaBY1UJ_cE?si=4lqI1lH9N-ogaOU4&t=3259
Wouldn't you wait until we get below $45 oil and below $2 gas to buy assets or companies at a discount?
if he was doing it at the top of the market with the idea that we’re undervalued then he would of course also buy it if its even lower
that’s not a smart change that’s plain old consistency
@he+1jt703xdb
dude we have no new assets under wael. at best we’ve expanded old ones by buying higher stakes or adding more wells. you can’t act like you’re a business genius if you can’t factor in the reality that we make our money on gas and that these assets come from a reservoir which depreciates.
a smart and responsible energy leader would take the money they saved and explore or buy new assets because if they don’t then there literally won’t be a revenue source at some point. you should look into how close to end of life our plays are and how green stuff makes no money before complimenting mr money saver on his genius . he’s doing nothing more than trying to make bonus at the cost of the long term future of the company by the math.
YL is buying back shares at the bottom of the market. Another $3.5 billion buyback announced for Q2 2025.
Why do you deserve tens of millions to just sack people? He’s not a visionary leader, he’s just reducing head count by 20%. Anyone could have done that, it really is a joke. He has not added any value, just cut some costs. Plus it was badly planned and executed. You don’t even need a ceo position to just cut jobs and sell your assets. Surely the chairman could just sign off on that.
Wael is probably the first CEO in a long time that seems actually interested in creating a more leaner company that can withstand the downturns in oil and gas prices. He's making the difficult choices that may not seem popular to corporate staff but was necessary to take Shell into 2030 and beyond.
Wael turned on LinkedIn Premium. Dude looking for a new job? Good riddance if he leaves
Post from TheLayoff.com
I think its because yesterday, Thursday, was a holiday in most of the rest of the world, ie May Day.
Interesting observation
I took a data analytics class, and one of the case studies was to try and Determine if there was any correlation with day of the week and quarterly reports. From what I remember, Friday reports were more likely when earnings were bad. The the is that the upcoming weekend will hopefully result in less news press.
It is hard to say if Wael Sawan will beat Peter Voser's four-year CEO record. But with the way he keeps cutting divisions and selling off assets, it feels like he is playing a round of Survivor Shell Edition. If this pace keeps up, he might be going for the title of shortest-serving CEO.
Also curious why our results are being announced on Friday? They have always been on Thursday to the best of my knowledge. Makes me wonder that the results are either very bad or there is a big announcement tomorrow.
Shell bought back shares at the peak, and now that the stock has dropped, it is hard not to see that as a short-term loss.
The buybacks will not delivery lasting value. That capital could have been directed toward meaningful investments or kept on hand to give the company greater flexibility in future downturns.
The frustration among employees is real. Cutting jobs while spending billions on financial maneuvers does not reflect a long-term strategy. We need leadership that is willing to invest in our future and not just polish quarterly results.
if wael saved the 50 billion dollars (yeah really, check our reports folks) he spent on buybacks throwing darts at the S&P 500 then we would have made gang busters
instead we bought ourselves at the top and have lost money
in zero interest rate, stable times the playbook is so simple that anyone can do it because anything works.
he needs to get with it and grow a real vision. reducing expenses is not a long term plan but it’s all he has done.
with any luck he will face serious repercussions before he collects what is undoubtedly huge bonuses based on cost cuts and headcount reduction.