That's pretty pathetic. How can you be an effective leader of a massive corporation like Chevron when half the employees no longer respect you. Even DW at XOM has a higher approval rating.
Nearly every performance metric and benchmark set by the Board has declined during his tenure. It's long past time that MW retires and stop running a once great company into the ground.
"Exxon has had continual focus on efficiency and reductions through attrition"
Not true. Exxon doesn't primarily reduce workforce through attrition. They reduce workforce mostly through forced rankings and continuous culling of the bottom tier. They have been doing this for decades which has led to a terrible company reputation among employees (go checkout their layoff board for reference). But even with this toxic policy, DW has a higher approval rating than MW. BTW MW just adopted this terrible policy for CVX going forward. What a surprise.
The layoffs obviously hurt MW's approval ratings with employees, but its not the primary reason. He's a chaotic leader with terrible results even by his own board's metric. If the company had a clear vision and the results showed it was working then his approval rating would reflect that.
"The biggest investment bankers buy both companies up hedge their investments, it’s not one vs the other."
They should be happy that XOM is making up for CVX's shoddy stock performance due to poor leadership.
@bf
The biggest investment bankers buy both companies up hedge their investments, it’s not one vs the other.
@bf
A corporation as large as Chevron considers employees to be a replaceable asset. The days of the employees being cared for are over. Look at the number of employees they have been replaced by contractors in the past 6 years. We are just a big in a bigger machine. We are a large expense that can have the costs lowered through outsourcing and employment in low cost geographical locations. :(
Exxon has had continual focus on efficiency and reductions through attrition vs Chevron's aggressive layoffs. Exxon's biggest layoff was about 4% while ours was closer 15%. Apples and oranges.
Is palantier being used at Chevron yet
“ CEO approval ratings normally fall around layoff time. 54% is still quite good. ”
XOM has been culling indefinitely and yet DW has a higher approval rating. What other excuses will you make for this failed CEO?
CEO approval ratings normally fall around layoff time. 54% is still quite good. Office Depot hit a low of around 4% whilst the CEO was raking in cash.
“ I don’t believe the feedback of the employees matter as much as the viewpoint of the investors. ”
Then the investors may want to track our 5 year stock performance vs XOM
@ah
With a company the size of Chevron there is nothing wrong with acquiring new companies for production. Large corporations do this all the time and divest the less profitable assets during the intergratiin process.
I don’t believe the feedback of the employees matter as much as the viewpoint of the investors. If the company continues to make a steady profit then the investors are happy. Chevron is a dividend / growth company so the goal is to make a steady income.
Chevron has do much assets that they are now in a role as an investment banker for company acquisitions and no longer focusing on discovery and the higher risk associated with new fields.
They reduce risk by purchasing assets with estimated long term value that can be easily evaluated for dividend and capital return
There is a reason why Peter Thiel escaped the country. CVX use Palantir for mission critical analysis and decision making. Yet the slaves at CVX dont know or care that Thiel is predicting some heavy stuff…CVX staff are selfish and only care about 401k…CVX production declines will require more Venezuela oil or purchase another domestic operation….
When you’re a POS to your workforce eventually it catches up to you. His reputation is forever tainted, and that makes me happy.
MW purchased production at the consequence of in-house know how and performance. The Boomer generation that has achieved zero succession planning have less than 6 years left on planet earth. Chevron is designed for the benefit and enrichment of an increasingly dwindling segment of the company. There is no CVX 2050 plans…why? the Boomers are not going to benefit from it and are averse to proceeding generations well being. Let’s make 2026 one of those memorable years…
He just needs more time!