Good job BM and the rest of the apple dumpling gang on a horrible Q1 and an absolutely embarrassing call. Why are we resuming our share buyback program?? BM is getting hammered by analysts for his grossly inflated salary…meanwhile our share price likely won’t ever sniff $40 again. #ONE, #AGILE, #DRIVING SHARE PRICE LOWER
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Are the shareholders, stakeholders and ELT really aligned at this level of compensation? Take a look at the info circ on SEDAR. 5 people made $28 mill in a year where the stock price dropped significantly and several employees lost their jobs as the company continued to contract. Never mind considering shareholder return relative to the money the "ELT" has swept out of that place during their tenure. It's difficult to see how that level of financial reward for the level of value destruction that has taken place over the last 20 years will lead to future value creation. These people are making CNRL/SUNCOR money while dramatically underperforming them and shareholder and employees are paying the price.
Maybe the ELT thinks there’s an opportunity to buy back shares right now because they’re so low.