Here’s what will happen:
(1) The Junior ELT will get rolled into the ELT. Positions will be eliminated so that special 3-year executive severance packages (about $75 million each) will be activated.
(2) Consultants hired, much analysis and non-value-adding work simply to justify more layoffs, including another EOI.
(3) Continued manipulation of the COS metric.
(4) The last of the “Old folks” worldwide in the Leadership Forum get their enhanced 3-year severance package.
(5) A significant stock buy-back, ignoring the massively higher prices paid over the last three years (buy high).
(6) More/increased asset sales at market lows.
Here’s what won’t happen
(1) Unbiased assets valuation. The Friends of the ELT will keep their projects, jobs, and assets.
(2) An honest view of our unconventional portfolio, especially production profiles and well scheduling (drilling, count, cost, volumes).
(3) Any real needed changes to Exploration, especially to the managers/leadership.
(4) BOD accountability for the leadership incompetence since the split.