ConocoPhillips recently announced executive changes with the retirement of long-serving CFO Bill Bullock and his succession by Andy O’Brien, coinciding with notable Q1 earnings growth and a dividend declaration.
https://finance.yahoo.com/news/conocophillips-nyse-cop-announces-cfo-174216118.html
Doubt it mattered to the board who the ELT financial guy was or wasn’t. A menial engineer makes 2X what an accountant makes. The COO is the integral piece in any ELT.
Tim Leach built the company that sold COP the acreage that leads the L48 that leads COP worldwide.
I thought it was interesting the Tim Leach retirement announcement was just a footnote in the email. Weird. He was the longest serving Heritage Concho ELT member. Jack and Will were on the ELT for a total of about 5 minutes combined.
Bill is really such a good guy. We’ll miss him a lot for sure.
RL’s thanks to Bullock has as much warmth and appreciation as a shopping list.
RL doesn’t care. He’s out of here soon. The company can fall apart for all he cares as evidenced by his actions the past couple of years.
I can’t tell if it is RL or the board who is blind, but AOB is a huge mistake.
Happy for Bill. Great guy and will be missed dearly
I’m old enough to remember the June 2015 dividend increase, the December 2015 Ryan Lance promise that the dividend was sacrosanct, the January 2016 report of earnings and cash flow, the subsequent dividend and credibility collapse… basically the firing of the CFO… AOB was head of the planning group at this time and was directly responsible for all of this. But he’s always managed “upward” well.
I discovered a huge forecast error in some work his group was doing. Long story which I can’t go into detail. His answer was to tell his people to stop talking with me.
Throughout his career the people who have worked for him despise him. He has negative people skills.
Wow, that’s a downgrade for sure. Not in the same league at all. Anyone care to share AOB stories? Could be fun.