If you could be CEO of COP for a day, what changes would you make?
Me, I would get rid of end of the year ratings. In my experience does more harm than good. I would allow the Mark awards value to be increased and those could substitute where previously a differential rating would. I dont know the entire trajectory of your salary for life at COP should be dictate by one good year (though this has benefited me in the past :) )
Revamp the Petrotech and Business Professional pay structures to provide RSUs to Bus Prof too. Could be based on time working for the COP as a Bus Prof. Doing so would provide a boost in equity for all. At the moment the current pay structures and opportunities do nothing but create divide and a sense of class opposition.
Sell off Alaska, its always been a s show, force employees who have been living it up there to Permian.
Combine Houston and Bartlesville. Come back to reality on ESG. Get back to the nuts and bolts of being a production company that values hard work and determination. Stop the virtue signaling on DEI and look at people for what they bring to the table. Improve psychological safety so we can ask hard questions without retaliation. Invite random employees to C suite to get feedback from the boots on the ground.
Fire the CIO while you're at it!
Ryan, is that you in the previous post?
Will there personal, Teams-based layoffs like last time for everybody after the sale?
Make sure to remind everybody how valuable and wonderful they are as you tell them they’re no longer employed. That really makes people feel good!
Hire an investment bank to sell the company or divest the Permian for value and fire sale the rest
Every employee 3 rating and above gets stock so all are invested in the success of COP
Bring back the free coffee!
CDO - gotsta go! No ESG taken to the extreme on my watch
Get rid of Jira and the 4-day planning meetings.
Eliminate the entire Finance organization and start over again from scratch. It’s core competency is incompetence.
In previous post, just curious what good acreage that we sold? I honestly don't know. From my limited perspective, seems like the Concho and Shell acreage buys were perfect timing
Easy. I’d give myself and my cronies a raise and more stock options. Then I’d lay off a bunch more people, hire a bunch of barely competent contractors to do the jobs the staff used to at a fraction of the cost, sell a bunch of good acreage, buy another small company or two, and present these achievements as evidence of my business acumen and ability to bring value to the shareholders.
YeeeeeeeHhaaawwwww!
Zero base the organization. Eliminate anything which does not contribute to value-added production growth.
Create an honest non-political post-audit organization: punish the liars and massively reward the truly successful.
Eliminate the hi-pot program. All this does is promote brown nosers upward. See “Peter Principle”
Get folks in Finance to understand cash flow and working capital. Currently no one in Finance knows how to estimate/calculate this correctly. It’s kinda important.