Seems so odd to see so much churn at the exec level 16 months post reorg. Have the LT class seen enough from this sh-tshow they they’re happy to cash in their stock? Or is this the quiet acknowledgement none of this is working and time for a change?
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They have seen the plans to move all jobs to ENGINE in India and realize it is just a matter of time before they don’t have jobs.
Because the stock will not be this valuable very much longer. Take the money and run
@OP To find the answer, go to Yahoo Finance. Put CVX into the search box, choose Holders from the side menu, then Insider Transactions.
Probably leaving right after “standing up the new organization”. Wonder if they got retention bonuses.
Yawn. If you don't like it leave.
Buh bye.
Art is often informative. See GOT Season 3, Episode 9. Would you stick around for the reception if you knew what was coming?
Doesn't really matter much does it?
Jealous is as jealous does.
Lets me guess. Stock options awarded during the pandemic at $70-$90 a share can now be exercised at $225 a share by those who accepted the transition-delayed package during the last layoff: You really have no idea why they are heading for the door now?
Because .. They defecated in the very place that fed them. Now, minute longer staying becomes a bigger pain in the a-s than hitting the door. the Door of the toilet that is Chevron. Go buy stocks in a company having motivated employees.
Uhh because they’re old?
@OP Because they made their millions and don’t want to be accountable for you know or maybe they aren’t happy with their leaders and musical chairs.
Who left now? I must have missed an email or just ignored an announcement unless it was just within a BU.
@b8 except these are core executive positions, not obscure regional managers. And sure, new faces makes sense for a fresh start, but cycling through them in a year doesn’t do any good to changing culture, apart from degrading it and making sure nothing get accomplished
culling the expensive burdens
@b2
For certain areas of the business that are being divested or sunsetted, it’s not a bad strategy frankly.
Populating transient leadership roles with “outsiders” is a good way to ensure that any emotional-attachment-to-the-“as is”-condition is derisked, and pure objectivity can be applied to business decisions… unpopular and unfortunate as they might be.
@as But why put someone in a leadership seat with the plan for them to leave in sub 2 years? It’s terrible strategy and there is no way it makes sense for the business.
@OP
These execs accepted the layoff back when the reorg occurred. They were given extra time on payroll to get their retirement planned.
This is a case of what’s right for thee is not best for me, the LT.
They get more money and time when reorgs happen. The rest of the employees get a kick out the door.
There are still people living in California and other states that have been allowed to stay on payroll and they are not planning to move to Houston. While others were kicked out the door on shorter dates. I know a woman that had a heart attack from being laid off and she was forced out on a short layoff date.
Stock is high and let them fly. Seems like the execs who have been given the golden package of options are taking the opportunity to cash In and ride off into the sunset.
Stock price is at record high, the next layoff os coming and is even worse.
Yes.