How did she destroy the shareholder value so quickly?
13 replies (most recent on top)
VH really does care about the company and the employees.
She is a classic narcissistic
Get her out before the stock goes to zero and we lose everything
LAPC
100% she is.
VH = stupid and arrogant
Please quit VH and make the shares goes back to $13
You took an $80 billion company and created a $12 billion dollar monster hahahahahaha
Since when has Oxy been risk adverse. Think back on Qatar, Elk Hills acquisition, purchase of Altura, Mukhaizna, etc. These are the projects that made the company what it was up until a few years ago. Let’s hope calculated risk is still the philosophy going forward after the debt is in check.
Definitely not the worst ever but she and EC should be held accountable ie fired for the APC acquisition. Not just because of the outcome but the piss poor decision making and risk analysis. Didn’t Vicki say in the latest virtual conversation the new performance rating system will not only measure results achieved, but how they were achieved?
Arrogance And narcissism run rampant throughout Oxy. Vicki and Oxy leadership think they are smarter and better and threw caution to the wind like a drunk bloke wearing beer goggles thinking with the wrong head.
The irony of a risk averse company and a maniacal drive to follow procedures circumventing all reasonable controls and checks and balances.
You get the CEO you deserve. If she is the worst CEO ever, it fits the worst and most disgraceful company and culture ever.
I feel bad for the Senior Executives that got caught up in this situation. They are all good people and are doing their best to pull the company through these tough times. They could quit but giving up
is not how they got to their high positions. They are people who persevere through tough times and help the company succeed.
I used to be a VH supporter and one of my fear was that she would not have the B__l to be strike down big wigs head when the going get tough. I still don't understand how some Sr. Executive in charge of the APC integration still have a job! One of the biggest problem with OXY right now is negative culture especial IT, these groups think they are the operation instead of support the real money maker. OXY is an Oil company not a IT company, this CIO need to promote out!
VH is not the worst CEO because (IMHO) she did not commit any actual criminal acts.
But she (and her puppet EC) did some things that were criminally stupid: 1) doubling down on the (PS)^2 [Permian Shale Ponzi Scheme] by pursuing APC when oil prices had already been showing signs of weakness, 2) avoiding a shareholder vote — that she knew she’d lose — by getting $10B from Buffett at a usurious rate of 8% per year (ultimately screwing same shareholders) and 3) not selling off APC assets in a timely manner while oil prices were still reasonably high.
Even before COVID-19 hit, Oxy had some critical troubles. Afterward, it is a basket case.
Attributes of VH and her puppet EC:
Incompetence
Lack of Planning
Incoherent Communication Skills
Lack of Foresight
No Sense of Urgency
Arrogance
Self-Entitlement
Stupidity ...
Fill in the rest
I would say those that already in bankruptcy are worse. Another ex APC DL has not done much for Chesapeake, and then DS at Noble lead them down a bad path. You might be unhappy with VH for this situation, but we still have a chance to get out. If Oxy goes bankrupt I think then you might be able to add her. But there are a lot out there that still beat her out. The worst of the worst would have to be Jeff Skilling of Enron, and Ken Lay their chairman.
She is a close second.
BH of Whiting former APC exec.