I would like to address some serious questions to anyone on
this board who is not a spammer, politico, or (lame) comedian.
1. Given that Exxon stock has not gone up over the last 4 to 5
years while the Dow is up thousands of points (look at a 6 month,
1, 2, or 5 year chart vs the Dow or S&P you may be surprised)
do you think that if you performed as poorly for your employer
as Rex Tillerson has for Exxon shareholders that you would
still have a job?
2. What is the role of the "independent" board of directors?
Is it just to collect their pay and ignore the awful stock
performance, the XTO disaster, the production shortfalls,
the earnings misses etc ?
3. Are all the large mutual fund holders just passive index
funds with no input?
One final comment, I don't object to Rex Tillerson's pay because
running Exxon is a massive job. I just object to the fact that he
has done such an abysmal job and seems so woefully incompetent,
He may have been a great petroleum engineer but he has been
a pathetic CEO at least according to stock investors.
SERIOUS replies appreciated!
Your mention of XTO as a mistake is mis-guided, to say the least. I will give you this: There are many who would disagree with me but, they are all on this stupid chatboard with the other "low information" posters who only skim the reality of current events and then shoot off their mouth without a modicum of knowledge.
The XTO acquisition is not a mistake because of my opinion or
the opinions of others on the message boards. It has been
judged a huge mistake by the market as the stock has very
badly underperformed since the acquisitions. Analysts may
frequently be wrong but in this case the market has agreed
with the near universal criticism of this acquisition.
Agree that XOM has large capex. The problem is not the
amount of capex, its the results- consistently falling production
despite the huge capex. Finding oil is a dirty, difficult, expensive
job that I know nothing about. However, Mr. Tillerson is paid
tens of millions of dollars to run Exxon that includes increasing
production. It's his job. The failure is his.