He has tried, give him his due. But in the end he’s failed. As he put it - my best plan is to Buy shell shares back at the absolute top of the market’ the end.
Absolutely zero vision # not worth the money (millions)
4 replies (most recent on top)
Wael’s main focus has been on cutting costs and ensuring that it can consistently return 40-50 per cent of its operating cash flow to shareholders.
And this isn’t a rumor. It’s explicitly stated on the article.
A literal wealth transfer from the working class to the elite.
#zero vision.
Lazy
Rubbish ceo
When things get tough again tho he has a plan! Sack more people with a much reduced pay out than before - just to really shaft long term hard workers (unlike him)
Rumor has it that Wael is so trigger happy to sell businesses because his bonus is tied into profit margin.
Chemicals is next. He may even ditch enough refineries to sc--w trading over. He doesn’t care as long as he gets paid.
Wael’s salary is 10 million a year PLUS bonus. Last year his bonus was almost 9 million.
Let that sink in. You’re getting paid almost 20 million a YEAR from the backs of all the people you laid off, and all the cash you burned with stock buybacks. Zero vision.
That sounds like a sweet deal any CEO would take!