All 12 months IMO share buyback quota used up in just 6 months and the company is still left with almost 3 billions cash sitting in the company account. And yet we treat our employees like we were Greece under austerity measure. I can't wait my last day and run with my severance.
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Imperial Oil is a shadow of its former self managed by remote control by ExxonMobil. It's painful to say but the truth is that we lacked leadership qualities by Canadian brown nosers who only focused on "stewardship" to please their masters in the US. This stewardship is what their variable compensation was based on. There was no team work only subordinate staff hoping to survive the the brutal ranking.
Part of why I left..among the other obvious reasons. RSU awards for lower level workers are a pittance and only senior management benefits when the company does well
It's better to be a shareholder than an employee these days.
Eventually the poor long term decisions will catch up and start hurting the company in the long run. But for now while commodity prices are good, the short term cash outlook is great.