How can Tillman’s compensation move up so consistently while the stock price moves down so consistently? Does the BOD not pay any attention at all?
32 replies (most recent on top)
PW working a deal with his buds at Devon?
WOW... this is for 'anonymous' who posted: Scott Sheffield, of Pioneer Natural Resources, to the Railroad Commission of Texas today. "No one wants to give us capital because we have all destroyed capital and created economic waste." There are 3 Railroad commissioners that heard Sheffield's plea for regulators to step in an cap oil production in the state of Tx. LT (our CEO) testified against this action, so you should be proud of your company and our leader. The last thing you want is regulators capping oil production in Tx - not if we want jobs in the industry! Wayne Christian, chairman of the Railroad Commission, tweeted: "I will vote against curtailing oil production in Tx. and stick to free market principles." Fact Check before posting- or don't post statements out of context. PXD has a costly water deal with the city of Midland. The ONLY way they could legally get 'out of it' was if the state stepped in and forced a production shut down. At least our CEO was defending the industry and our company. Not selfishly attempting to manipulate the system.
From SEC (public domain) filing: "As part of the Company’s broad-based effort to respond to the COVID-19 pandemic, the Company is implementing cost reduction measures including the base salary reductions described below.
The Company’s President and Chief Executive Officer, the Company’s Chief Financial Officer, each of the other three most highly paid executive officers serving as of December 31, 2019 (our Named Executive Officers) and certain other members of the Company’s executive leadership team will experience a base salary reductions of 10%.
The Company’s Board of Directors has also agreed to a temporary reduction of annual cash retainer fees for non-employee directors of 20% for the third and fourth quarter of 2020."
Looks like CEO, BOD and officers took a pay cut. LT took a pay cut on both positions- the Board of Directors & CEO job. Kudos to anonymous who actually read the SEC report. Everyone and every oil company is being dragged down by the global oil market coupled with covid-19. But, I agree, stock price stinks!
When the new office opens, everyone should show up the first day wearing a driving suit that cost $20,000 and a helmet. A whole company of Lee Tillmans should get the motor revving.
Lee needs to sashay off to lower Westheimer with a couple of junior engineers and take his bought-and-paid-for Board of Directors with him. He's been nothing but a drag-anchor on the stock price, morale, and corporate asset base for the last seven years. Through high oil prices and low, he's kept a steady trajectory of gutter-kissing stock price, poor acquisitions, and insane divestitures. He'll be radioactive once he leaves MRO, so he's s—ing in all the raises he can to support his LeMans fleet of exotic cars.
Ax moving downward yet?
Where is this new building going to be?
The BOD are lame. Tillman is not a leader. The balance of Senior leaders are just as lame as the board. What do you expect to happen? A miracle?
Cut the guy some slack - he's about to be out of a job and maintaining a gaudy mansion and a fleet of exotic cars is expensive no matter who you are.
Do MRO close to chapter 11? I thought MRO is good until 2022 cash flow
Quick, let's do some talk about open floor configuration in new building. Add to that some diversity post on linkedin and instagram and perhaps some Hart energy award winners.
Hold on. There is a new building coming and when completed all will be good!
Pioneer isn't premier like Marathon... Pat Wagner must have something on Lee.. if not, he would have been run off after the Payrock acquisition fiasco which preceded the Permian acquisition fiasco... REX has been a disaster and he owns that too...
Well Pioneer would say that. They aren't the lowest cost highest and margin unconventional company in North America.
At least Pioneer’s leaders aren’t pulling punches:
Scott Sheffield, of Pioneer Natural Resources, to the Railroad Commission of Texas today.
"No one wants to give us capital because we have all destroyed capital and created economic waste."
Or fellow Aggies
They could be family or just typical blind Marathon arrogance
Nice to see a few of Lee’s family members on the site defending his track record... And ask Pat if he ever even met all of his employees. Bush league.
Marathon executes are superior to Oxy in recent measures, hence don't deserve a pay cut.
Oxy did a big Permian acquisition with horrible timing.
Marathon did a small Permian acquisition with good timing but horrible acreage and development potential.
He knows he's on the way out and it will be a while before he gets offered another CEO gig, so now is his chance to squeeze the company for all it's worth. Whiting's CEO did the same thing in the days leading up to their bankruptcy.
Don't be surprised when he pays himself another bonus when Marathon files for Chapter 11 in order to "ensure continuity."
Oxy's senior leadership has taken a 70% pay cut, Managers making more than $100k have taken a 30% paycut. Tillman's compensation goes up? His head must be buried in the sand; MRO's leadership including the EVP Corporate Development just don't get it.
The corporate strategy comment is sarcasm or a true believer ? Lol
Guy that said stock had gone up a whopping 32% was being sarcastic...
Corporate Strategy has done a terrific job the last few years. Think of these tremendous executions.
- Payrock
- Permian (remember 2 companies in 1 day no one else wanted!!)
- Buyback strategy
Tp the guy who said that stock has gone up a dollar... actually it’s up 36% off it’s 52 week low. Apache is up more than 90% since March 23 while Diamondback Energy is up 71.1% in that time period. Occidental Petroleum has rallied 58.5% since then.
How can ANYONE defend the MRO Chairman when his performance is so consistent & predictably dismal. When will the BOD stand up to him and bring in someone with fresh perspectives who ALLOES QUESTIONS at town hall meetings?
Executive Vice President, Corporate Development and Strategy....how does he still have a job? Not one single value add that has been driven by the BD group in the last 7 or 8 years.
We have a new name amongst our industry peers -"Marapeake".
The guy is doing a good job. Do you realize the kind of stress he is under leading a company like this.
His compensation is fair and honestly deserved.
From marketwatch.com
Marathon Oil Corp. MRO, +4.30% filed late Thursday its 2020 proxy statement with the Securities and Exchange Commission, which showed that Chief Executive Lee Tillman total compensation increased in 2019 for a third-straight year. Tillman's base salary rose 4.4% to $1.19 million, after rising 4.6% in 2018 and increasing 3.8% in 2017. His total compensation grew 15.1% in 2019 to $14.05 million, after rising 20.7% in 2018 and 17.3% in 2017.
Meanwhile, the total compensation for the media employee increased 24.7% to $144,720 in 2019, after falling 11.9% to $116,041 in 2018. The CEO pay ratio declined to "97 times" in 2019 from 105 times in 2018.
Marathon Oil's stock had declined 5.3% in 2019 after falling 15.3% in 2018.
Maybe the BOD are playing solitaire in the hallway
Stock has gone up by 32% since April 1st. It's only a dollar but a buck's a buck!
Below is a comprehensive list of all the good things that have happened since Lee became CEO
- Jeans