Suncor stock price is down 3.4% year-over-year while oil prices remain steady. Looks to me like the market is lukewarm on the changes Freddie is making.
11 replies (most recent on top)
I don’t know why they hired Kruger as a CEO. Remember Encana? Their current CEO, Doug Suttles, was let go from BP. He is American. What’s the result? All Canada assets were sold, company was renamed and was moved to the USA. Suncor is different than Encana but there’s not much trust either.
Are we winning yet?
He very Recklessly laid the protocol for layoffs, there was no rhyme or reason. The decision was made at the manager level for the team. But in my team I had a bad manager. He could have setup a protocol to lay off low performers (which most in tech industry do). These layoffs are a bad investment which doesn’t even pay off but the damage done of reckless layoffs can be more impactful down the road.
In the last 6 months, Suncor is up 7.5% while Imperial is up 18% and Cenovus is up 19%
Are you sure the year-to-year data was because of a person started this April?
Mr. Freddy Kruger should retire again. He is not doing any good to the company
Suncor has career postings for two cybersecurity experts. With what has been going on since July, only a desperate individual would take a staff position with this loser organization.
Speaking of deadweight. There is one Director in R&L with 34 years of service (Petro-Canada & Suncor) with only two direct reports.
I agree with @orw+1pjeqdSx one hundred percent. Each week I am surprised by who has been turfed and who remains. I can’t help but think how Suncor is becoming D-MBER with each move. This talent will quickly find new employment in organizations that appreciate them. Meanwhile the remnants can pat themselves on the back on their daily five day a week commute. History will not be kind to Kruger’s tenure.
It’s sad to see what Mr. Kruger is doing. Layoffs make sense but they have kept a lot of deadweight leaders and got rid of an awful lot of smart people that actually progress the organization and add profits. Hopefully he can make his millions soon and leave so the company can move forward away from the old school mentality he brings to the table. Temporary stock pump gain for long term pain is what I’m seeing.
Meanwhile Imperial Oil and CNRL are each up 7.7%