Over the past decade, our company's Total Shareholder Return (TSR) has suffered a sustained decline, putting us behind our competitors. Key transactions, such as the HESS deal, remain unresolved after two years, and mounting legal challenges across multiple fronts are eroding our strategic position. We're losing leverage in global markets, and our asset portfolio is alarmingly concentrated—NPV is heavily weighted in S&T in a single geographic location.
Instead of investing in sustainable, organic growth, we've leaned excessively on M&A, a costlier and less reliable strategy. The result is a company vulnerable to shocks and devoid of long-term vision.
The most recent operational model redesign represents the largest restructure in 25 years. While marketed as a global effort, it disproportionately impacts U.S. employees—closer to 30–40% in reductions—due to our inability to restructure in locations governed by external labor agreements. Something that leadership conveniently sidesteps in messaging.
This situation is not simply the product of tough market conditions. It is a direct consequence of persistent strategic missteps and ineffective leadership. Our executive team has demonstrated a failure to adapt, innovate, and safeguard the cultural and operational foundations that once made this company thrive. (MW has proven his poor strategic mindset, MN has denigrated the company culture, EB panics in her helpless incompetence, LL running around like an enthusiastic puppy that has no idea what is going on and completely unable to "read a room" - especially internally within Chevron.)