What is going on this week with the announcement of two VP leaving PNR/EXXON announced on LinkedIn. Both are 25 years plus with Pioneer. Have they realized they are now capped out on any career advancement within the Exxon Corp structure, or were their packages that good they could walk
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Wonder which VPs and EVPs are still linked to those PNR made suppliers and service companies. The hotline is about to light up!
Why would this come as a surprise? "What is going on" is that they're walking away with a hefty payout thanks to the CIC, and they now have something better to do than worry about XOM.
Shah, Berg and Hall are gone as of the 3rd.
Good for exxon shedding the dead weight. A bunch of people doing nothing and soaking fat paychecks for years. The only leadership they could provide at exxon is leading that company down a similar path as pioneer.
I'd bounce too...
Dealy's package will total more than $26.4 million if he is terminated by Exxon. Neal Shah, who was executive vice president and chief financial officer at Pioneer, is in line to receive about $15 million if he's pushed out, while Mark Berg, the company's executive vice president and general counsel, was slated to get almost $16.5 million. J.D. Hall, executive vice president of operations, could recieve $15.3 million.
They don’t add value to Exxon! Bye! This isn’t Pioneer extension!
The latter. Change in control documents that are filed with SEC should be enough evidence for you.