You manage to tear down a 100 year old company in less than 4 years!
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@zv1
You hit the nail on its head!
Shale plays have been a Ponzi scheme from the beginning with each company’s charlatans taking a lead role as UC cheerleaders.
VH’s big fall is due to her bringing in the Apache Mafia, believing their loudmouth BS and then doubling down on Permian UC plays as the future for Oxy.
Shameless stealing from another poster: The Vicki Hollub Story; Kayaking Without a Paddle!
The problem with all companies in the industry has been the big lie about the non conventional pie in the sky.
On point,,,middle managers in they’re jobs as yes men and woman for upper management,,,no critical thinking skills required!
In the last few years after all the Ray Irani regime were pushed out, the current negligent management team from top to mid managers have been pathetic. No leadership skill, no care, buddy system to promote more insecure id–ts. I work for a few that should have never been promoted to manager and vp. Look at our big shot traders, bunch of amateurs. Consistently get rolled over. And they blame the market for their lack of talent. The Irani people were tough, but they also took care of everyone that was good at their job. This current oxy culture really s— bad. Cynthia Walker was cold and they made her some kind of czar to build synergy. Ok.
VH - fall on the sword and step down - now!
It’s not just the CEO. We have a lot of “low performers” in the company that are unnecessary fat that slow us down. The mid-level management lacks true leadership characteristics, the technical teams are weak and have too many people for any of them to make an impact, and the supply chain organization is getting abused by the OFS market and doesn’t communicate with the stakeholders well enough to even see the rest of the E&P community sees OXY as a joke on so many levels. It’s getting to the point that many may have a difficult time getting another job with OXY on the resume.
Exactly!
The one positive is this should squash any chances for future female O&G CEO's. Let them head unimportant stuff like HSE and HR. Heck, throw 'em a bone and let them have IT if you really want to go crazy with it, but keep them out of the C-Suite. Nothing good comes from it.
Eh, I would guess the money makes the legacy thing pretty tolerable. Still has family and still has close friends, what more do you need? I think these execs just feel entitled to their slice of the pie, and are willing to leave a wake of destruction in their path in order to get it. Not trying to justify things, I just think she likely feels zero remorse and sees everything she's done as totally appropriate and fair. Otherwise the shame and guilt would be unbearable, potentially to the point of s–c-de.
I get it that she will walk away with her millions, but to people that rich, their legacy matters too. She has destroyed hers as one of the first female execs in oil and gas history. DRW and all his hypocrisy is probably going to toot her horn long after we declare chapter 11. That guys s*cks so hard.