Isn't it sickening, that Lance and his cronies makes millions, while throwing people and their families to the street? Why does he deserve $21 million - for laying off thousands?
He reminds me of the Italian Captain, who was the first to run away from his sinking ship.
@Iyh5N03-ukw - If you don't think greed plays a major part, you are sadly mistaken. If the board thinks that Ryan Lance isn't doing a good job making them money, they will throw him under the bus. If the street numbers this week are bad, watch out.
Scientists and engineers are the worst leaders, this is a fact.
http://trak.in/tags/business/2016/05/13/9-year-study-finds-engineers-techies-worst-leaders-mba-degree-doesnt-guarantee-leadership/
Exactly right usb. COP is not long for this world if something major doesn't change. Clearly Ryan and his band of brothers are hoping it will be the price oil...but that doesn't seem to be moving in the right direction. New, decisive leadership...now. It's already almost too late as it is.
I don't think he is the majority shareholder or even a major shareholder but sits on and presides over the board because he is CEO and Chairman. He is CEO and Chairman because he was selected and voted into those positions by the major shareholders. In fact all shareholders get to vote on issues at some point. He was and for the greatest part of his career an engineer, not a leader and it shows. The real person to blame for screwing COP was Jim Mulva and he got away with even greater millions in his coffers. Had COP retained a refining segment to the company it could have weathered the storm better just like ExxonMobil. Sure there would still be layoffs, but they might not have been so deep and frequent. COP is doomed at this point and is ripe for a takeover and yes I know some will say who would buy the debt, but those issues can be mitigated as they don't have to buy the whole entity. One need only look at the recently announced Verizon acquisition of Yahoo for example. Verizon is only buying what it desires, which proves where there is a will, there is a way especially if both parties desire it and when money talks you know what walks. Atos Origin bought Schlumberger Sema (Formerly Omnes), but refused to acquire the 2Net (Client/Server Support) portion of Sema, so SLB kept 2Net. If ExxonMobil or any other suitor wants COP in pieces the powers that be will make it happen especially if it means big bucks and bonuses for the ELT and major shareholders. Reality check people, COP is a fire sale in the making and she will be carved up like a thanksgiving turkey for her real property, tangible, and intellectual assets if the price is right!
He is not a majority shareholder! His board members, who decide his salary, are his pals.
It is all a large scam.
All said and done, it is his company. He is majority share holder. Is he a d--k for laying people off to maintain his salary? yes. Is it his right? yes.
You don't like it? Start your own company and pay yourself.