How much longer before the board walks Jon down the plank? This is rediculous, another bad quarter....how many is that now? Why let this guy destroy the company?
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Reading this thread makes me so happy with my decision to bail 3 years ago. JM is a joke. It really is unfortunate because CVE has such a great asset portfolio, and there is money to be made in downstream, they just need to bring in external talent who actually has experience running these facilities to clean up the mess. Clean house and bring in new management, senior management (director and up) are rotten to the core and just need to go.
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I was let go 2 months ago. What was the corporate score? Want to compare to the severance value (3 weeks/year plus weighted bonus)
They could start by getting rid of Sr. Project Manager / Sr. Business Analyst contractors lol
I’m all in favour of dropping the 5% lowest performers. They can be spotted as the ones going for coffee every single morning.
Careful what you wish for @g4+1jmhyfm32 !!
Elliott came into Suncor demanding changes. Next thing we knew Freddie Kruger had been install as CEO. He fired 20% of staff arbitrarily and implemented the EXXON plan to dismiss bottom 5% every year. Record throughput. Record profits. Investment community loves him. Employees not so much.
Looking forward to the Culture Survey in Q2, leadership needs to hear from the people and the people really need to speak up or this doesn't change.
I agree with @h4+1jmhyfm32 wholeheartedly! Leadership is awful! Look at IT as an example - let all our great Cenovus employees go to keep the backstabbing, ignorant, no respect Husky leaders! Something has to change to make this place a great place to work again.
How did Cenovus allow for the complete infiltration of Husky leadership and management, after saving Husky from bad management? The former Husky CFO becoming Cenovus CEO is one thing, but how did the board allow him to clean house of proven Cenovus leaders and run rampant with nepotism in promoting Husky leaders who have a track record of nothing but failure? I’ve been at Cenovus a very long time, and I have never seen such poor leadership, poor management and low morale. Here is another cr-ppy Husky style bonus, now let’s move the needle. This guy!
The issue with Cenovus is bad leadership at the top. For sure they’re all going to get together and do a big deep dive into Cenovus and what’s wrong, but no one will point to the real problem. Our CEO. He’s made bad decisions regarding downstream, and it’s an anchor they need to cut lose otherwise this company is sc--wed. At some point our shareholders will have to rise up and demand to appoint a new board and CEO.
If you drew a line from the upper left corner of this box to the bottom right corner of this box, you will have a chart representing bonuses and total comp at this company since JM took the helm. He certainly doesn’t appear to have any interest in retaining top quality professionals or motivating the employees to perform in the top quartile.
He will get a juicy bonus, regardless
Buy enough shares, elect the board and hire whom you want.
Hutchinson gets to decide the board as well as the ELT.
The board needs to go as well. Hand picked by management and letting poor performance go unabated.
He will continue to sacrifice executive before he leaves.
The needle he needs to move is dropping downstream into a cavernous hole. It’s never made money and likely never will.
"Let's get to work to move the needle in 2025" he says...