In case you are wondering what we talk about, here's our questions.
1 If you had an employee in your organization where 2 out of 3 of his supervisors said he was overpaid and not performing well, what action would you take? Do you see the connection here to the 68% shareholders vote?
2 Surely you have heard about the definition of insanity? So why do we have the same leaders in exploration?
3 Every morning we walk in and see "Accountability" flashed at us. The 2015 COST ("Cost Optimization for Sustainable Transformation") effort does not seem to have been Sustainable. Who has been held accountable for this failure?
4 A $200 million currency loss of course implies risk. Company procedures demand a decision tree in these situations. What was the risk associated with this loss, and what did the "success" branch value look like?
5 According to the firm Semler Brossy, less than 1% of companies do not have their "say on pay" executive compensation approved by stockholders (this is easy to verify). Given this horrific benchmark, what are you doing to regain shareholder confidence?
6 If you think about it, if the organization is already "right sized", there would be no employee reductions in a disposition because there would only be necessary employees that would go with the buyer. Given employee reductions in 2015 and 2016, why were there such horrific staff reductions with the recent dispositions?
7 At the February townhall meeting, you said that Eagleford earnings were negative because you disagreed with reserves booking. Do you disagree with SEC guidelines or accounting standards, and what are you doing about this?
8 If you look at the promises made at the Split 5 years ago, none of the objectives (promises) have been met and 5-year cumulative earnings are negative. Who is accountable for this?
9 A consulting firm has been hired for cost reductions. What is the cost of hiring this firm and why could we not do this internally? Isn't this what you pay your managers for? How many employees will be severed this year? Is this the end or will we do this again (again) next year?
10 "Leadership" implies people will follow you. Would you be willing to take a "no confidence" vote of employees and if the response is 90% or more, admit your failure and resign?