http://fuelfix.com/blog/2017/05/16/conoco-investors-reject-exec-pay-in-advisory-vote/
“We’re disappointed the proposal didn’t pass, and acknowledge how the shareholders have voted,” said Daren Beaudo, spokesman for ConocoPhillips, in an email. “We plan to actively engage in dialogue with our shareholders to better understand their views regarding our compensation programs.”
"Better understand their views?" I think their views were clearly expressed! You just had your performance review, and I'm sorry, but we have to push you out and replace you with one of our hi-potential people.
An activist investor needs to get involved and nominate his/ her own slate of officers so we can fire all the current members of the BOD.
"to better understand their views"??? I know he is just a spokesperson but his crisis management skills are deplorable. Then again how can they have the nerve to ask for a raise???
Shareholders delivered a good old-fashioned smack down.
Oh, I'm so sorry to all our exec's. You weren't able to give yourself a fair raise while continuing to lose money and destroy lives. How will you ever survive with the pittance they'll pay you. I hope they don't freeze your pay for too long, and I hope you manage not to end up on the streets.
Thanks for posting. What a bunch of clueless idiots. They're simply shameless.
Consider yourselves censured. Jerks!
Loved the Houston Chronicle headline today: Investors give ConocoPhillips a slap. Aren't the shareholders Ryan's bosses? Isn't this a 5 rating and grounds for low grading out the door? I just wish someone had submitted a proxy on the fleet of Gulf Streams these guys fly around in.
“We plan to actively engage in dialogue with our shareholders to better understand their views regarding our compensation programs.”...these idiots are as out of touch with reality as I have ever witnessed from an ELT and BOD. They actually seem surprised! Mismanagement, falling stock prices, squandering of assets, the list goes on and they had the audacity to recommend increasing ELT pay! COP needs sweeping leadership & board changes if it is to survive and ever prosper again.
I wish the executives could see how ConocoPhillips employees voted. I am sure it was closer to 100% not approving of their compensation packages.
For the ELT at COP, the message will never get through! They think that the stock holders are a group of uneducated deploreables and did not comprehend their need for fat compensation packages even if the Company is falling like Pan Am!
Does anyone else think big Ryan looks like Kevin from the Office? About the same intelligence level, too. No, I think Kevin is smarter.
And the stock continues to decline. COP is dead money. Better returns w/ EOG & Pioneer (although neither has SPIRIT Values)
A much welcomed warning to the ELT and the BOD. Shareholders are not going to tolerate this performance. Need to get in position to replace ELT and the BOD at next year's meeting.