Tim Duncan, CEO of Talos, was fired for poor share price performance. Talos also hopped on the carbon capture bandwagon.
Oxy’s share price has been on a consistent negative trend over Vicki’s tenure. She’s leading the company to invest in money losing low carbon ventures.
Is she next?
With all the new technology it will be hard for some to keep their jobs. Many companies are also moving jobs overseas and that is going to hurt as well. The job landscape is changing for sure. I think Oxy could get a lot to take a VSP and layoffs could be spared. I know many older employees that would take a VSP and move aside for the young ones and all the new technology coming to the world.
The dismissal of Tim Duncan from Talos highlights a growing trend among energy sector CEOs facing the consequences of not meeting shareholder expectations, particularly in transitioning markets. Similar scrutiny seems to be setting in for Oxy, especially under Vicki's leadership, as she navigates the shift towards less carbon-intensive operations. This critical moment for energy companies merits a deeper look at the broader industry implications, including potential layoffs that could affect many. For those interested in understanding the larger picture, especially Occidental Petroleum employees concerned about their job security, I recommend reading the detailed analysis available here. It sheds light on the strategic decisions influencing market movements and employee futures.
https://main.techstaffer.blog/en-us/benefits/mass-layoffs-in-us-tech-industry-cause-concern-for-occidental-petroleum-employees
A shame. Always rooted for him during his basketball career. One of the best ever to play.
Guess he just wasn’t a Hall of Famer CEO?
What will BH do when WB leaves the living? They will likely get more assertive about managing their investment.
The last time she compromised the company they brought Chazen back to reign the kids in, but they don’t have that option anymore. Not against doing big deals, but it doesn’t appear that the company had bounced back from the Anadarko deal. It’s as if the Buffet “put” gave them false hope everything is good to pile on more debt. My guess is BH has been patiently for her to create another bargain, congratulations.
It is hard to believe that Warren Buffet put so much money into Oxy. He needs to have the keys taken away from him.
Chevron seems to be in turmoil with all their outsourcing going on and the Hess deal up in the air. As an employee at Oxy I would rather have Vicki as a CEO than Mike Wirth, but then again I doubt many from Oxy would be offered employment, and Oxy does not have a nice package like APC did for their employees. At least not for us rank and file employees. If we all want to stay employed I would not want to be bought by Chevron. It might be nice to be taken private by Buffett.
Day trade this stock?....Unfortunately I have much too much of it already to play games... Hope Chevron comes, pays a small premium for it and puts this dog down....
You didn’t know the old Oxy.
So quit worrying about things you can’t change and take action through additional purchases of Oxy stock. It is an easy 10% return on investment at 52 dollars a share. Hopefully it goes down further on Monday morning before I buy.
$51.97.... So much less than the fire sale price for APC....APC was a much better company... Buckle up and keep your resumes frosty. Bye Bye
The stockholders are not making any money but the investment community still seems to like Vicki.
If I m not mistaken the government gave us a billion dollars for the carbon managament program. In a way it is smart to play along with the government. As an employee I will take Vicki over others any day, but my perspective is as an employee not a high volume stockholder.