Having worked in the industry 25+ years I can confirm that Cenovus is not a place you should invest your time at and build a career. They are not worthy of your time, talent and effort. Management seems to think that senior ex-Husky and Conoco employees are the reason that they continue to underperform. How is that working out so far? I am slowly unloading my stock position as Cenovus gets pulled up by the price of oil. I suggest you all do the same.
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I keep seeing comments about the “incompetent Husky management”. I’m ex-Husky and honestly it’s most of the Cenovus people in leadership positions that are the problem. They say all the right things, but don’t do them. They spew the Cenovus values at meetings, then don’t follow them. VP level and up are mostly Cenovus historical people and they are terrible leaders. Our CEO is on a path to turn us into CNRL so if that’s aligned with your values, you’ll be happy. But if you’re someone who wants to be a good leader, wants to develop your people, wants to do the right thing - good luck. It’s do as I say, not as I do. And no one at the VP level and above is going to stand up and do the right thing, say what needs to be said, rock the boat, etc. because they need their jobs and don’t want to lose their paycheque. Nod, smile, keep collecting your money.
Need to divest the boat anchor Husky assets and clean house of the incompetent former Husky management, then all would be fine.
You don’t even work here lol.
I agree the company is adrift. I see other companies making well thought out purchases and acquisitions and their stock increase over 10%. Cenovus is failing and I am just waiting to dump my stock. The mergers have failed and the Board isn’t taking control of the situation with company direction. I hope Cenovus does well until I can sell my stock at a decent price and then I never have to look at the CVE ticker again
Because of some stupid management I'm not going to walk away. Let them leave!
They need to divest all remaining non-SAGD assets to become competitive.