When a management team with a reputation for brilliance (PSX ???) tackles a business with a reputation for bad economics, the reputation of the business remains intact.
After 12 years and returning $40 bn to shareholders, they would've been better off buying the S&P 500 index. The shortsighted nature of quarterly capitalism has left PSX spinning its wheels and the ELT grasping at straws and searching for a quick fix when there is none.
PSX is at a fork in the road with its future at stake. There are two choices, one is to hire someone like TSO's last CEO and fire the ELT and BOD. The second is to sell off the company piece by piece, USEC and USWC to PBF or HF; mid-con to Cenovus, and Lake Charles and whatever else is left to Elliot.
Either choice would end the constant floundering by the ELT and torture of the workforce by consultants. The continued use of consultants only goes to show the millionaires on the 15th floor don't know what they're doing.
If you disagree, please share how P66 will beat the competition. It's not like any of the reorgs made PSX a more effective company.