MW is out of control with his destructive behavior. His extreme outsourcing push is the latest. He is to blame for all the problems he had. We allegedly were going to Win in Any Environment after his massive layoff. How's that working? I guess we need to layoff more to win even harder!
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MW is a finite game ceo when we need an infinite game ceo. The object is not to win the game but keep playing the game. Companies like Blackberry and Kodak are examples of companies that played to win and lost everything. Cvx is headed that direction under MW. With MW's win in any environment campaign exactly what is it we are winning?
It appears MW focus is CCUS, outsourcing to India, and frustation with regulators that are out of his control (watches too much Fox).
Major MW simps in here downvoting. You must have the kneepads of steel.
In any other environment, MW would have been gone a long time ago.
Ironic. JW stepped down due to MCP cost overruns. MW reaped the benefits when these assets were producing. He's also lucky that the Russia and Ukraine war propped up oil and gas prices. He was dealt some pretty good cards and still managed to underperform.
@2rbm+1utRTMts Hey MW cool you read these posts!
Yawn. You guys ran out of material. You keep repeating the same old narrative. Always everyone else's fault but your own.
Profits will be up that’s how they win. It’s not MW acting alone, he’s been given approval by the board etc to do what he is doing. They will all make money from their actions, that is their focus not CVX.
Have they forgotten the Deepwater Horizon incident?
MW has adopted the Boeing strategy - forget the technical quality and juice existing assets for short term stock gains. It won’t end well.
Our problems have little to do with individual contributors. They have to do with the strategy set at the elt level.
Mike - strategy is not good. Do something. Get rid of incompetent people around you and they are EB, JG and MN. In that order.
Exxon got their butts back into the office. They had 401K match suspended, lost their 9/80, and were required to be in the office. They realized they needed to do something different. We rode the fully remote train, and now ride the hybrid for some but not all.
We have to take some fault for where we are as a company.
Yes, he was getting all those high fives for his unwavering financial discipline while Exxon was spending money and investing during the downturn. Now, CVX is stuck trying to get this HESS purchase to the finish line which is sounding more and more like it won’t happen and the company is crashing, borrowing and burning through cash with no new reserves being found. Exxon is reaping the huge benefits from their investments they were so scorned for back in the downturn. They are even sticking it to Chevron with the HESS deal because they can. MW isn’t looking so good and his only solution is to hire outside companies that tell him to copy the other companies with sending jobs overseas and to layoff more people. Sadly he will move forward raising the dividend again just to try and keep that aristocrat status while we already can’t afford it and are burning through over $2billion a quarter. But, hey, if he can keep the stock price supported at least he is still getting paid, right? He doesn’t care that he is sinking the ship. At least he gets his! I am hoping the BOD is having some second thoughts about extending his time beyond the required retirement. I agree the guy needs to go. This sinking ship needs someone who can repair the holes, take the wheel and give it some fuel instead of just trying to coast as far as he can get only to jump off with his golden parachute while everyone else and the company goes down.
We can’t Mw stands for “MUST WIN”!