Thoughts on this abrupt move and replacement.
17 replies (most recent on top)
CR now gone.... looks like he left the sinking ship for a much more stable gig with a future. Hard to believe NBL is in the situation it’s currently in. Will be interesting if DS’ old buds on 10 can even survive this mess. The finger pointing has to be tiresome by now. The company is a shell of what it was just a few years ago. Get rid of competent experienced people with the layoffs because they make too much and you’re left with the slop. The executive management team has destroyed that place.
And there goes CR...sinking ship
GW has a noncompete and isn’t headed anywhere for awhile except the vault to count the stacks of cash from his exec severance package.
Agreed, No doubt the Street does not like the exec change. BS will stretch the company's finances even further adding more debt sending NBL into a bigger downfall. Current leadership is not performing but this change was not the right one. So Sad. Time to oust the whole board.
“But how could this change be worse than the DS and KF and GW trio who brought us into this mess?”
That’s what passengers on the Titanic said just after it hit the iceberg. They got their answer about three hours later.
"The Street" has not been overwhelmed with the choice for the DS/GW replacement. But how could this change be worse than the DS and KF and GW trio who brought us into this mess?
As a sold GOM employee. It was a blessing in disguise. The company has been in a tailspin, since the sell. Company stock are worth 4 dollars less.
BS's replacement at EP cleaned house in a big way so most of BS's EP buddies should be available for hire. http://www.epenergy.com/about/Management.html .
So. The Board hired an old guy (56) fired from his last company to save this one. dumb--ses. This is going to be a very expensive mistake.
pathetic management. equally pathetic board. sell while there is still some value.
“Smolik was brought in to be next CEO.”
Haha! This is too funny! I’m not doubting the accuracy of the comment, only pointing out that Smolik was basically fired a year ago from his job as Chairman and CEO of EP Energy. The EP Board of Directors pushed him and his executive team out and replaced him with an outsider. The fact that they dumped the whole lot speaks volumes about EP’s confidence in Mr Smolik and the people he chose as leaders.
So now he’s coming to Noble and likely to backfill management positions with his fellow rejects. It would be hilarious if it wasn’t so sad.
Noble just can’t resist being self destructive. One way or another the board seems determined to take this company from the frying pan into the fire.
I’m not saying that current management is doing a good job mind you. They aren’t. But what’s the point of replacing a clown with a bozo? SMH.
Here in Colorado, there is abundant support for Prop 112. If this passes, NBL stock will fall 50%. GW is a financial wiz and left so that he could liquidate his stock and save his own finances. Genius.
GW was let go and is laughing all the way to the bank. DS is next. Smolik was brought in to be next CEO. DS was temporarily left in place to transition. Expect the announcement on DS early next year. A whole new management team will be brought in. Expect the new executives to be primarily ex Burlington. Big changes are coming
GW was smartest man in the C Suite. BOD should’ve moved GW to finance and sent packing the big bald bag of gas incumbent.
Good !!! Finally GW finally got booted. Very very terrible leader!!
DS is another waste, The board finally figured it out. DS is and was the worst of the worst for being president, he was and is a joke in the company and in the industry
GW booted this week. DS stripped of "president" title. DS will probably leave in spring.
Do you really think he left voluntarily???