According to the WSJ, VH expected to announce a deal this week with billionaire investor Carl Icahn to install 3 new Board of Directors + Chazen as Chairman. In return, Icahn drops the proxy fight and let’s VH keep her job. Really?!! You’ve had 6 months to close ANY deal besides Moz and when oil prices tank your only move is to CYA?! Pathetic.
8 replies (most recent on top)
I bet part of the deal VH made with Icahn was that she must implement the pay cuts. If she had been fired, someone else would have to take the blame.
She should just leave. I understand she is embarrassed and probably feels pretty bad, but this hurt us and left us unprepared for the virus and low oil prices. Sure every other oil company is in the same shape, but I don't work for them. I hope Chazen realizes this is not about making VH and her executives feel good about themselves. Even if we pull out of this VH and her team need to be looking from a long way off. I want them to have nothing to do with the company stock for sure. If a big change is not done at the top it is a waste of time to have Chazen back. They all had their chance and it did not work out.
The OXY mo–nS have got to go if OXY stands any chance in hell to survive this. After the sweet deal the ghoul of Omaha got, there is no reason for them to stick around. Scram incompetent bunch.
Promotions/raises that we won’t be getting this year and our 401k match will be going to pay Chazen and those new Board members. Nice. It should be going to the lower level employees who have been working like crazy the past 8 months.
I really feel sorry for her being a joke and desperately wants the power.
Some of those at the top need to be sent out the door with the same severance as the rest of us. If they all stay in place that is BS. They helped put us in the place we are in. If one of us screwed up to this magnitude we would be fired asap.
Vicki, the EC and all BOD members should be criminally prosecuted for going to Warren Buffett for $10B in private funding simply to avoid a shareholder vote. How did governance of Oxy allow such flagrant criminality? Not to mention stupidity.
If there had been a vote, the deal would be dead! Oxy would still be having problems with low oil prices but would have no debt anchor dragging them to Davey Jones Locker.
It doesn't matter who our CEO is, frankly. I have no respect for the entire lot of them. They're pathetic, self-serving, egomaniacs. Every time I see another video or read another stupid email from VH or any of the EC, all I hear is "wah wah wah, wah wah" like the teacher from Charlie Brown.