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Occidental Petroleum Corporation Message Board

  • distant_constellation distant_constellation May 10, 2013 7:14 PM Flag

    CEO thing behind us

    Sure lawsuits might linger, but they're irrelevant. This company will be governed by

    --cost cutting, reducing salary expenses

    --selling off businesses to leave the core North American based oil production

    If those two things go well, OXY will go to $120. If not, Chazen should be fired. We'll find a young, eager CEO who is determined to deliver value to shareholders, not to himself.

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    • Chazen wants to retire.

      But you are correct. The CEO thing is in the rear-view mirror. Going forward, this will evolve into a pure domestic oil production play that needs to cut costs. Those who argue against this are most likely millionaire engineers who work at corporate HQ.

      • 1 Reply to markareeno
      • Both above posters make good points,.....but..... following this board the past 'leven days reminds me of the two old sayings:"coulda,shoulda,woulda," and "remember where the 3 fingers are pointing when you point the one finger..."
        Last time I checked WE shareholders all have a vote, in fact I think our vote is in proportion to the number of shares we own(please correct me if I'm wrong). I think the CEO's (and BOD)job is to get the COMPANY to make money, and the shareholders' job is to elect the right BOD to make the right dedisions as to what to do with that money.....
        Then, at the end of the year, if we disagree with the company's policies, we have the choice to install a different BOD,,,,, OR....sell, and move on.....
        I could be completely wrong but what I'm reading on this m.b. sounds like WE shareholders need to be more proactive, or accept the piddly(not) results.....
        I for one have been quite inactive, but have also been satisfied with the 17.8% annual return I've received over the past many years, considering the effort (not)required on my part.....
        (education/comments welcome)

75.38-0.35(-0.46%)Jul 22 4:03 PMEDT