bit. My wife and I are long term holders of WR - back to the mid 70's.. Aside from the Wittig years, we've been well satisfied with our investment. I believe current management did have a few lean years following his ouster -- and with pps back to a more normal range, those involved should have a payday. That said, some constraint should be shown going forward, because they are now at the top level for the volume and bottom line WR is showing ..
A good previous posting, but it still does not bring justification to the outrageous amount of compensation being granted. Such conduct by corporate management continues to degrade the level of trust everyday investors expect from senior management and boards. We still have a few people on the WR board that were provided their votes on the board during the days of Witting (One is the Board Chair). He should be gone, but he serves to the liking of the ChairCEO in justifying compensation greed based on the recommendations of "PAID COMPENSATION CONSULTING FIRMS". Please be reminded that CEOs typically want such advice to be received from liberal minded firms that want to be employed again. Perhaps investor approval of compensation consulting firms should be subject to some review by investors. Having said this, I continue to recommend WR as a good investment - BUT IT COULD BE BETTER.
IT COULD BE WORSE. Go to the SandRidge Energy (SD) board and news for a laugh. Their CEO has sucked out 150 million in the last five years - and that's just in compensation. I read on the internet (so it must be true) that many of the leases the company bought in Okla and Kansas were first owned by this same CEO, Tom Ward.
is pretty much on the money -- my wife & I were a bit disappointed that the BOD wasn't swept clean after the Wittig debacle - although a few of them were broomed - that were involved in his selection. We had some very good years, before Wittig showed up, and hopefully there are more on the horizon ... I'm with you all the way if some compensation restraint isn't shown going forward ...