You can’t have $45Bn wiped off the corporations value without holding someone accountable. So who should it be? DM, current bag holder. EB, long history in TCO. NH, every project he has been near seems to turn to cr-p fairly quickly. Or MW the buck stops at the top.
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Easy to hide behind a screen and write….try leading and doing something positive…you might find a way to help, rather than spewing this negative rhetoric…how does this help anyone
I'll take "none of the above" for $200, Alex.
This is known as failing upwards. You have to be in the right grade for these types of arabesques.
Aw c'mon! MM, a female pioneer in the company, took the hit for Gorgon going over budget (accountability achieved). VP of the BU RK got promoted. Accountability achieved!!!
The Gorgan fiasco was even worse and the key people in charge got promoted to higher roles [ they are now retired after they lead the Transformation]. When you are at top, the conventional wisdom is that you had passed several test [true or false does not matter]. So even if you sc--w up big, no one will be scolded for it, as they think it would have happened anyways no matter who was in charge and in fact they think this was the least expensive outcome. Only if you sc--w up with some political statement or say something that is not acceptable in the social norms [ you know what I mean, I cannot write it here]Herr. Then you will be out of the door. So nothing will happen.
A lot of middle managers and young leaders in 3GP should go. They are clueless and bear the responsibility for leading 3GP to its current state.
All mentioned are bullet proof. NH leaves a trail of destruction in his wake. He’s totally clueless. The good guys are leaving. Seems like you’ve got to be absolutely useless and still get shifted around the BU’s on a promotion. Boys club live and well in the company. Heads should roll. Starting with MW. can’t believe EB managed to totally sc--w up and end up 2IC.
All remaining disciples of PRC.
Best pollev ever.
Way to go Chevron. EB was promoted to CFO instead of being held accountable for mismanaging FGP. She said that she is learning the financial game by reading some awesome books. Zero experience in finance and big mismanagement of FGP got her promoted to number 2 position in the company.
What message is Chevron sending to the employees? You have lost your best asset Chevron.
The question is - did heads roll at a senior level in the past when MCPs went massively pear-shaped? This should tell us what will happen next.
It doesn't matter. I'm convinced that MW has bamboozled the BOD into believing that he can run the company using ChatGPT. He somehow made the change to Agile from a system that was working.
DM should be fired for a lot of reasons, but FGP could be a good one.
EB was in charge there long enough to have to shoulder some of the responsibility. She won't, of course, so some nobody will have to act as scapegoat.
Let’s fire EB and call it a day.
There’s more than one person responsible for these major loses, so you won’t find any single person fired anytime soon. Somebody or two may indeed pay the price, but the consequences for that will come later, when Wall Street is focusing on other things. The moral to the story is we don’t air our dirty laundry in public.
A lot of the problems were in yard fabrication (no carryover work - yeah, right) and site construction. Nobody has been allowed to criticise them, and now we have the case that systems completion are being held to account for what has been left. It doesn't help that construction people are retained and shifted into SC positions where they don't understand SC and blame everyone else for what they didn't complete before. Now there are people moving in from another part of the project which covered only about 15% of the total scope, and are talking like they can finish everything even though they never ran dynamic commissioning on most of their scope and are probably missing several thousand checks on Atex rated equipment (fairly essential for sour gas injection, one would think). Tack on some serious ethical violations from some members of the same group which aren't even being investigated, and you get to one of the issues - nobody in a high position cares because they are either oblivious due to convoluted reporting, or because they know the issues but are getting paid regardless. The recent org chart change had zero benefit and probably delayed things even more, but someone will have got a hearty pat on the back for essentially copying the Gorgon model which everyone knows was so very successful.
TL;DR - lots of people, but the damage is done so let's just keep them around and have a few pointless workshops while other people complete the project.
I believe MW told everyone $1 billion in savings needs to be found by year end to cover the delay impact. Thus, the current cost cutting panic.
What is FGP?
The answer is none of them. They are in control. There will be an investigation leading to some poor slob down the line getting blamed.
Come on, we all know the real answer. About 10% of the rank and file who happen to be sitting in the wrong assignment at the wrong time. Management protects the top at all costs, including nonstop stock buybacks to keep the unit stock price rising (which maximizes the cash flow to the top).
EB for sure
Maybe EB for allowing all the freinds and family contracts with the only product being invoices to pad thier bank accounts.
The out of country fabrication, Korea and Italy went well despite some horrible engineering but the in country was just too corrupt and the senior management all knew.
Let's fire NH EB DM and PB. Roll the dice that clearing one level of managers gets you to a better crop below