I'm a long term survivor and I know the ELT. I check back here to view rumors and morale vs what's going on.
The postings on the ELT here are mixed. In reality the ELT are confident, successful managers who were 100% sure they would do massively better after the split. They had worked with previous management, had experienced the wrath and micromanaging, and KNEW in their hearts and minds they would do better.
But of course the Peter Principle kicked in.
Previous management was too controlling of costs so they immediately took off the shackles. Apple products for everyone! Let's buy some drillships!
Previous management reacted too harshly to price dips so they were plodding. Previous management did not seriously consider different scenarios or think strategically so these brains would do both. Repeatedly. Previous management was focused centrally, and these Geniuses remembered and planned to give the BU's more room.
They are all brilliantly smart, but they have actually learned little throughout their perfect careers of being promoted upwards every 1-2 years, and told how wonderful they are at each performance review.
They each have one year of experience 30+ times.
And they don't care. 68% of shareholders vote they are overpaid oafs and they shrug. Because it's never them, it's the environment or something else.
So what comes next? They don't care. They will continue to "do their best" and work long hours and give town halls, approve cutesy slogans, and meet with consultants about the next round of cuts. But they don't care about you. They are not into you. They collect their multimillion dollar salaries, stock, stock option grants, and VCIP payments (that you will not earn in your entire career) and they don't care about you. They have nice houses and travel the world at company expense in their own Gulfstreams, and name buildings at their alma maters after themselves. Who cares about long term survival or even value creation, they just want to work for the next $50 million, then they can retire "comfortably". Will I buy an 8,000 square foot second home in Colorado or 9,000? How many floor to ceiling windows will my 10,000 square foot home have in Florida? What size "boat" and plane will I own after I retire? Yes, this is what they dream about, not you, not production, not stockholder value.
If you think I'm being too acidic, look at the promises made five years ago. Then go to yahoo Finance and compare the stock price of ConocoPhillips vs. EOG. With our balance sheet and existing assets we should be doing well right now, even with the price drop. EOG is.
Buts it's never the ELT's fault. It's always someone else's fault. And they will "take the 68% vote under advisement." Meanwhile they collect their $10-20 million each year and laugh themselves all the way to to the Banks.
They don't care about employees, shareholders, or assets, as long as they get their nice salaries. Rules and accountability are for the little folk, not the special few. Y'all are mortals, the ELT are gods. Or so they think themselves.
Yes, I could give you real-life concrete examples and personal conversations, but I would risk outing myself. Let me just asssure you: they don't care about you. They care about themselves.