Capex cut further, more cash returned as Permian reaches 1 Million barrels. Lower bonus and salary in the longer term.
https://www.linkedin.com/posts/mike-wirth-chevron_chevron-energy-energytransition-activity-7165423815307505665-bHHp
5 replies (most recent on top)
From a wall street greed perspective MW is great. People like Cramer are always all over Mike. From an employee perspective he's destroyed the company. Morale is at an all time low, teams are grossly understaffed, layoffs are often and now a major distraction, and micromanagement is growing. Eventually with a disgruntled and disengaged workforce the company will buckle.
Mike has got this company back on its feet. Capex down from the unsustainable $40+ billion level under his predecessor. Rational growth, M&A at geat value (Noble, PDC), costs under control, sensible approach to energy transition.
Not sure how you define ruined. Suggest you look at BP and Shell for companies who have been ruined by poor CEO’s.
Mike has ruined this company. I guess he doesn't care since he'll retire once everything is gone and dividends finally have to be cut since there are no employees to lay off.
He never said "lower bonus and salary" ...
What are you getting that from?
Salaries and bonuses are Opex