Do you think he is the problem? Should he be fired?
21 replies (most recent on top)
Yup time to go!
https://simplywall.st/stocks/us/energy/nyse-xom/exxon-mobil/news/is-exxon-mobil-corporations-nysexom-ceo-salary-justified/amp/
Fire him and bring Lee Raymond back.
Ate my last bowl of chili (automated delivery) at Baytown plant today.
Got home - sat down - and remembered a poem, which I'd dedicate to Darren.
Here I sit, muscles flexin,
giving birth to little texans.
And apologies to the many fine texan friends I've nurtured over the years.
From NTSU, Abilene, etc.
Shame.. first Exxon spat on their employees by saying these are poor performers and worthless to Exxon in a Terrible market situation (good luck with finding jobs), now they cut our savings and publicly announced it.. something is very wrong here..
It seems that freethinkers are marked
Well, he’s certainly taken a different approach than all our industry peers. He’s either a genius with unprecedented vision or a total fukcing mo–n. I’m betting on the latter.
It's quite easy for people in the know of what is going on to LEAK information to the public BEFORE official statements are made.
If you are upset about all of this, leave. Go somewhere else. Just submit your 2 weeks and find someplace better.
It’s so funny how the rich keep getting richer and the poor keep getting poorer. I am not saying anyone working at EM is poor but the difference between Woods pay and other pay.....Woods is making MILLIONS AND MILLIONS of dollars a year....year after year.....EM clearly DOES NOT care about their employees...Hince why they released the statement to the Public regarding our savings before they even told the employees. Is any of the big wigs at EM taking a pay cut? No they are not. Are they taking stock shares cut? No, they are not. But they are cutting all of that out for the others not so high on that EM ladder. This is b—s— and the way they run this company is b—s—. Understand that Woods does not care about any of us that are employed at EM. Their lack of just common courtesy is ridiculous. Also, how is it even legal or right for them to take away something that they promised every single person that was hired would get while they worked. So let me get this clear, they are cutting our savings matching and most training and a lot of other stuff but they are not offering people a little extra money to leave but keep taking promises that were made to them away......Yeah, sounds like a bunch of b—s—.
Woods needs to go, no question. But, he's just a symptom of the larger problem. We have a systemic issue regarding company culture, promoting incompetence within, and pushing down very talented individuals that bring a diversity of thought and approach to the table, because they don't conform to the mgmt types. As they implement covert lay-offs via PIP, the high quality "different thinkers" will leave in droves. Further, as more and more "crown jewel" benefits get axed, there is very little differentiation, if any, the company has left relative to its direct competitors (pension is probably the last big one, you really think that's not being looked at?!). This will signal further distrust and disgust among even the most loyal, leading to further exodus. You know it's bad when highly ranked and well compensated folks are coming on here to voice their displeasure or outright disgust with how the company is handling the situation. Once the economy springs back, we're going to see a lot more people getting out. This is probably just the beginning. I know for myself, it's definitely time to pivot into a new industry. Godspeed everyone.
2019 - CEO at EXXON MOBIL CORP, D. W. Woods made $16,424,332 in total compensation. Of this total $1,500,000 was received as a salary, $2,216,000 was received as a bonus, $0 was received in stock options, $12,371,850 was awarded as stock and $336,482 came from other types of compensation. This information is according to proxy statements filed for the 2019 fiscal year.
2020 - Exxon shareholders approved increasing CEO Darren Woods' 2020 base salary to $1.62 million, up from $1.5 million in 2019. Woods' total compensation in 2019, including stock options, was nearly $23.5 million
Lock him up
Chapman will be way better for morale (I’m EMCC) but he’s no friend to sustainability - when Verity was still around he did a lot of work “convincing” Chapman that sustainability is here to stay. Probably too much and why verity was asked/allowed to leave.
Based on how public Chapman has been lately, I think the writing is already on the wal.
Just be analytical without any bias:
List out what his performance measures/targets must be for the past year.
Compare the targets to measured actuals.
Apply the same PIP criteria as all other employees.
Unworthy of his keep. Then again, he’s the boss.
Woods should be let go. During his tenure he has implemented strategies full of expensive blunders. The latest lack of transparency with the savings match will further erode employees confidence is his ability to lead as well attracting talent and maintaining talent once the economy improves.
Buybacks have been greatly reduced or eliminated in recent years but the huge amounts done prior to this period has robbed Xom of much needed cash now. How much lower would stock be had Xom not bought so much stock back? My guess not much.
The clinging to current dividend level is short-sightened.Tough times require courageous leadership; time for XOM to move on from Woods.
Fire Him.
No accountable and ownership. Anyway, no one can change it. We have to let nature take its course.
Absolutely. His strategy was to double corporate earnings by doubling down on hydrocarbons. Clearly missed the mega trends and COVID has only accelerated peak crude demand. He continued the debacle that Rex started, but he owns all of this.
Isn’t it obvious. He still thinks he is underpaid, maybe that’s why we get subpar results.. don’t complain, vote.
Yes