There have been a lot of comments about the CFO and CHRO of Phillips recently. I wanted to start a thread to consolidate views on these two as I have recently interviewed with both and considering a senior role at Phillips 66.
Can you help me by laying out your concerns as there are some pretty significant accusations on this board about both of them.
What should I be aware of as I would be working closely with both of them.
@4f6 he likes ‘em spicy!
I heard today that his new interest in the office is his comms support. She is young and @sian. Surprise surprise.
@47r true. The former treasurer and Auditor was close friends with the CFO. She advised him and was a confidant during his first divorce. Again, this CFO does what is easy, feels good in the moment, and is not interested in developing the people around him. The board knows it and has spoken to him about it, but they and the CEO don’t take action as it is hard and makes them look badly.
So many issues with this company and it will end up catching up to it.
@398 Have great respect for her. Along with many other folks. I still don’t understand how her career stalled for so long in upper middle management in Finance. She was clearly always highly competent, developed her people, and made no waves.
For her to have been passed over for General Auditor in the first place the first time for the faded former part - time model (at least in her own mind) who loved to hear herself blabber (loudly) endlessly while delivering zero value was completely laughable.
As another poster said and I agree with; it’s hard to understand how the CFO’s controller selections could be so solid after EO left, and how the first two Treasurer selections after JZ left could have been such a joke (the aforementioned former model) who was even worse and less productive in that job - with more bad decision-making than any other role she had - followed by an individual who literally couldn’t complete a sentence at times and who none of the other functions nor businesses (openly) had an ounce of respect for.
Just bizarre decisions-which the company paid a price for- and both were “retired” out of those jobs in a blink.
There is real truth to the thought that the CFO either surrounds himself with marginal execs who are tail-kissers who are not a threat, and marginalizes, exiles or pushes out those with true talent. I guess you can somewhat hide / work around a poor or totally tactical treasurer yourself with one’s own relationships as a CFO. The outside world has to see a competent Controller; hence more competent selections.
The CFO is 100pct about himself.
M@rk, I know you read this. You are a disgrace. Do the right thing for once and get rid of this CFO and CHRO. They are ruining this company and impeding progress.
This post won’t die. More than 4k views and lots of comments. One might think these observations deserve the attention of management and the board. The time for the CFOs exit is NOW
With all the negatives on this post, there is a shining star in the CFO's organization, the Controller. She is a no- nonsense, tell-it-like-it-is, ethical person. She values the employees that report through her organization and treats everyone with respect. She has high expectations and makes sure praises are given when due.
@33t This.
The comments are beyond legitimate. People very close to the situation, either now or recently.
@34x and you are already so happy with you choice to go elsewhere you are constantly checking a post to my made weeks ago at a company you turned down. Maybe you would be a good fit at the company in leadership…Big ego, little competence
@30h I had another process progressing before PSX made contact, but follow up after first contact with the CFO and CHRO did not happen quickly and I needed to make a decision. The comments here were just helpful in cementing that decision.
@30h while it is probably not a legit original post, the comments are so legitimate they must be posted by either a direct report or someone SGL19+ that is close to the CFO. Most know these things about the CFO and his team. The comments are extremely accurate.
And over 3k have tuned into this thread as this is resonating with people.
@30h no, it’s real. Trust me
A few things are strange about this. 2 months for an SVP job isn’t slow. It’s a multimillion paycheck so you should be the right person.
And you posted 3 weeks ago and you have taken a new job but are still posting and commenting on another companies layoff site. it does lead to some suspicion of the accuracy
@2kn my original post was not a joke.
I had interviews with the CFO and CHRO for the position of SVP, Corporate Strategy and Development. An executive search firm reached out to me about the role nearly two months ago. I have since taken a role with another company given how slow the process was taking.
@2qt yes, was in treasury earlier in his career.
@2jg I could not agree more with this assessment. Kevin has surrounded himself with yes men and those that won’t challenge the status quo. He pushes out those that think and don’t give in to his desires.
The comments on the two commercial folks are so accurate. Br3nt has not been useful for a decade and M@rk may be the largest self promoter that I have ever come across. A true believer in Machiavellian tactics in the workplace to get his next promotion.
@2kn The simple fact that so many people are speaking here anonymously about what is a clear problem relative to the culture and leadership (with one he-l of a lot of factual information - there are clearly a lot of SG 19+ & leaders group speaking out here) is the biggest sign that there is a significant problem. It would be wise to at least acknowledge that. The best way to “move on” (in your words) - are to address the issue(s).
In that vein - many of the posts DO reference constructive actions - at the very least a board level or independent review of the CFO’s behaviours, decision making and appetites as at least some of them appear to violate the code of conduct / P66 behavioural charter.
Others are just repeatedly poor decisions relative to personnel and capital allocation strategy (proven out by how much PSX continues to lag the sector, which is why the CEO, IR and CFO are trying to change benchmark entities and move the goalposts). Inexcusable given the level of compensation.
(Refining was summarily underinvested in for years upon years despite project after project being teed up for FID review………so now that we are investing but need a long time to catch up the solution is to now tell people “we’re now an integrated supermajor and not a refiner”? SMH.).
Some feel the same about the CHRO, which isn’t good given how unbelievably compromised many of the prior CHRO’s behaviours were proven to be (unless there is a health problem, folks at that level just don’t voluntarily exit like that without severance).
There is a clear lack of trust that comments like yours ie “get a life” and “move on” simply exacerbate. A corporate culture that’s healthy is one in which the top of the company wants to truly hear about the problems and suggested solutions.
A toxic one is one in which the top of the company only wants to know who is expressing concern in order to exit or silence them - not relative to listening to and understanding them so that they can be understood and fixed when appropriate for the greater good.
It’s pretty clear where you sit. As well as the folks mentioned here whose behaviours you likely tacitly support. You are entitled to that - but your performative comments meant to stifle awareness add far less value than the ones you criticize.
Commercial guy has a finance background?
You are all jokes, especially the pretend interviewee who posted this to get attention. Get a life folks and be constructive. Life is short. Move on.
@2jg bro went nuclear! Let’s goooo!
@2e4 so good!
Let’s get a lot more pointed about WHO his accomplices are:
First, the CEO. Ignores his obvious ethical shortcomings and keeps him on because he is too lazy to find someone more competent. Let’s be honest, our CEO is lazy and just does not want to make change as it is inconvenient to him.
Now, the cast of Finance characters and those that act as apologists for this miserable CFO:
Head of Tax: his confidant who reports peers and their activities to the CFO. Has cost more than one LG member who made the mistake of confiding in her. A wolf in sheep’s clothing. Wisely aligns herself with the HR folks pushing DEI and other HR nonsense (always a month of learning presenter) to protect her own longevity.
Head of FP&A: takes not positions and just carries out the dirty work he is assigned. Speaks pretty openly in private about his dislike for the CFO but clams up and does his bidding in front of him or the leadership team.
Head of Commercial Finance: where to begin with this half-wit clown. A true low-IQ with no real thoughts in his head. Has not done real work in at least a decade and sits quietly in meetings so no one can say he had a position. Never take a position and you can never be wrong. Total bafoon.
VP of IR: will do anything to please the management team, totally insecure in himself so just does whatever seems to please those above him. Nice guy, but enabling the CFO and his view of the world.
SVP of Commercial: privately sells out those around him to further his own career. A true snake. Has a finance background and sells out those in finance to the CFO. Acts as a quiet as-----n. A political animal that thrives on taking down other leaders so he is the last one standing.
The HR organization: the eyes and ears to the ELT. They see something in a meeting they don’t like, they report it to the ELT member. They see someone acting independently, they are a threat to the organization. HR has been we-ponized against the employees to keep them in line and to preserve the ELT.
Prove me wrong on any of the above. Would love to hear alternate opinions.
@ax In adding to a2 & ax’s EXCELLENT posts to the person considering working closely with the present Head of Finance:
he is a highly narcissistic individual who thinks about two things primarily: anything that benefits him financially and/or feels good to him, whether that be his outrageous compensation (and any way to protect and increase it), his stable of expensive sports cars, his ha--m of women (either married or very young; generally always in the office setting) and in supporting anything or anyone that enables any and/or all of the above.
He loves to give good news and be praised - but doesn’t give bad news or do any unpleasant / dirty work himself - takes too much energy away from his Formula 1 time or skirt- chasing to do that. Detests 360 degree feedback particularly about his function or the few whom he trusts; doesn’t care about changing their toxicity because it suits him. He takes the saying “rank has its privileges” to more of an extreme than I have ever seen. He has no time for any conversation where he does not hold a “power” advantage unless its managing upwards (CEO/Board/JV ELT’s) or with industry peers who have ability to hurt him (equity analysts).
he absolutely does not tolerate 1) strong minded/strong willed Leaders Group level Finance people in his orbit (particularly if they are capable of succeeding him - the aforementioned Treasurer who left for another refiner and the Controller who left for a Chemical industry player were both brilliant (capable of being successors), strong willed, strong leaders (much stronger that what he ever is or ever will be, particularly relative to development of people) and (key point here) - not selected for VP level by him). He absolutely, positively pushed them out by marginalizing them and frustrating them. Putting the Treasurer on the ERP project was just demoralizing to him - it marginalized and frustrated him, which was sad to watch. He changed as a person and lost energy. Exceptional leader who some ELT felt could possibly run the company someday as a non - operator, which is rare. The CFO definitely didn’t like that - because he was never seen as CEO timber himself. Remember, legacy CoP folks never even saw him as CFO material.
He also doesn’t care for anyone senior who isn’t Finance home- roomed and will eventually jettison them unless they are several SG’s below him (ie below SG 21) or his peer on the ELT, of course. (Unless he brings them into Finance himself and they turn into jellyfish / not a threat to him, see next couple of bullets).
To the two prior points above, he absolutely makes personnel decisions relative to his leadership team based on malleability, not due to qualifications in a classic sense. It’s all about what defines “qualified” in his mind - which is primarily defined by someone who will say “yes sir” and not ever openly aspire to his role.
The Treasurer selections were absolutely mystifying after the aforementioned gent (who many including the prior CEO had great respect for) left for a refiner. He chose two consecutive Treasurers he knew from the old Conoco GM developmental program to develop PnL leaders - that the PnL businesses didn’t see as even GM’s in those businesses. So they ended up in Finance, (way back in the Maxwell days, pre this CFO - and he kept them there - as they were loyal / they had no place back in the businesses). Absolutely no one understood the selection of these folks as they were originally only on succession lists as emergency candidates. But it fits his MO - see prior bullet point. Not threats to him. Even though one had zero executive presence.
To be fair, the next two Controller selections he made were much better; at least they were qualified and career finance people. Most of us respect both individuals. Competent. But your controller types have to be, frankly if you wish to maintain credibility on the street and with auditors. But still - he ran off a rock star type Controller who was also a career finance type, top MBA, highly educated. Simply because he was an obviously a threat.
to finish a way too long post that its taken me a few days to find time to write (I do want you to be fully informed of the type of person you will be dealing with) - the most damning thing of everything this person has done in my mind was the strongly rumored inappropriate relationship with the former CHRO. Unforgivable (to say nothing of her behavior, which is why she is gone and wont land anywhere else with that level of responsibility at a publicly traded entity again - HR just cant be involved in activity that they police/enforce).
He / they were engaged in this behavior at a very sensitive and critical time for the company; AE66 and Transformation; 2017-2023. To think about the “pillow talk” conversations that must have taken place, and the confidential conversations that he was likely inappropriately made aware of that others held in strict confidence with her - and how it allowed him to front run and kneecap other execs + if it suited his agenda is just hard to get your mind around. And he is absolutely Machiavellian enough in thoughts and actions to do so. I remain convinced that gaining political advantage out of the information gleaned from that relationship was just as much a motivator for him as the pleasure was. And I wonder if she came to that conclusion at a point in time. It’s why every single personnel decision he had a hand in at that time (2017-2023) that required HR signoff should be independently reviewed.
By now from all the information that folks close to him have shared should give you a clear message…………….watch your tail around this individual or his people. At all times. There are one or two good seniors left around him - but they are enamored with career safety which will always come first, they know they can’t replicate their pay or pensions elsewhere. So trust no one. Nobody. Unfortunately, at PSX, money has proven to be a powerful way to buy silence, loyalty, and malleability.
@28s completely agree. Violated one of our primary operating behaviors. The funny thing is mark seems to distinguish between personal and professional behavior and seems to think there is no connection.
The minute it was discovered he has no “honor” he should’ve been sacked.
This thread should be required reading for the Board so they truly know what is going on. More truth here than on any thread I have read to date.
@19g this is so true. The oversight by the board at Phillips 66 has been troubling. A group of friends hanging out and not a set of professionals upholding their legal obligations to protect the company and shareholders.
@19g so true, and probably not a single one of them has ever considered this persoective
K3vin is truly an awful, self serving individual. Only looks out for his own interests. Manipulative, deceitful, discards those that see through it, and holds the purse strings to a large public company. Think about that M@rk and Board. You are entrusting billions to a man that has been unfaithful and tries to conceal it. Dangerous and reckless by the Board
@a2 maybe the most accurate post in layoff.com history
As someone that previously worked for the CFO years ago, he is not a bad boss, but he is a horrible developer of his people and developing a succession pipeline. He is suspicious of everyone and finds a reason to knock them down. He enjoys people a layer or two removed that are productive but does not like the threat once they report directly to him. He is only after one thing: protecting himself and his ridiculously sized paycheck. He knows he can’t replicate it without becoming a CEO and that is not happening.
Someone really knows this CFO. Not buying they are in refining. Likely a direct report or someone 19+ that interacts with him a lot. Or is could be Lashier himself
@ef ewwww
@ef I am no slave. Think about what you just said. You may have entirely hit at the problem at PSX: management has conditioned employees to think of themselves as indentured servants. Held captive by the bonuses and excessive pay.
I am no slave. I broke free and escaped.
@ef that has to be the single d-mbest post ever made on this website.
Some times we all need to have a reset, so it isn’t just the upper management its the employees as well.
How about resetting with God & Jesus Christ. The BIBLE “Biblical Instruction Before Leaving Earth”
There is guideline talking about Masters & Slaves “Management & Employees”. So everyone is blessed when Management treats there Employees correctly also so Employees treat your Management correctly. So when everyone only thank about the self’s problems develop. So even the Management reports God & Jesus. So lets get reset and we all get blessed.
The CFO really has driven out some great people: controller that was well positioned to be CFO (threat), a Treasurer forced onto a project he did not want that became a CFO (threat), the head of the MLP that knew all his dirty secrets and the wife of the Treasurer (payback for the Treasurer leaving), multiple heads of strategy that saw through the bullsh-t. He also brought on one of the biggest a--holes to run strategy and BD and that was a massive failure. That move also cost the organization the transformation guy that was well liked by many in the org.
Simply a terrible leader after his own interests. No wonder he is on wife number three. Rumor also has it that he enjoys grooming other young females in the office. He just can’t stop.
@a2 this is well written and informed, particularly relative to the CFO. I’ll add more later; busy now. But it’s pretty on - base. Important things for any senior leader considering joining the organization to know.
Just terrible people. Beware
@a2, Legend. 😂😂😂
First, they are both political animals that surround themselves with yes men.
In the case of the CFO, he has surrounded himself with people that tell him what he wants to hear and rids himself of those that challenge him or have any ambition. A long trail of good leaders that were out under his watch and all have gone on to bigger roles somewhere else.
In the case of the CHRO, he has hired former colleagues from the outside and an army of BCG consultants to do his real work. His hires mostly have the same racial profile as himself and his bias is quite obvious to the organization. The competence and effectiveness of the organization is questioned daily in the business. Lots of buzzwords and events but few tangible results.
The CFO also had a troubled personal life, including allegations of affairs with the prior CHRO, leaving his last wife for his neighbor who he got pregnant. He is 60 years old with a newborn.
The CFO also has the reputation as someone that can’t develop a team and the next set of leaders. See prior comment about he rids himself of anyone that challenges him or is a perceived threat.
He also has the tendency, along with the CEO, to sleep through meetings (not exaggerating) and engage with only senior leaders and the Board. He is arrogant on a day to day basis in meetings but can turn it on for Town Halls and Board interactions.
All ELT, not just these guys, enjoy the high life of luxury resorts for their offsites, the use of three private jets, including a G6, a private island on Lake Ontario, a private suite at NRG for concerts, sporting events, the World Cup, etc. Employees are something f to be tolerated which is why they rarely take meetings off the 14th and 15th floors that are locked down to most employees.
The list can go on and on but these are some of the major ones you should be aware of before you join this org. I work in Refining and it is visible to me. I am just thankful I don’t have to interact with them every day.