Phil Speaks on Retirement

[Getitrt2]

Equity potential is a major part of what IOC could offer to attract a top-notch CEO, making it less attractive after a very big move in the stock price. I do not think a mutually attractive CEO candidate would sit around waiting for a partner selection, sell down deal, and announcement, nor that the BOD would hold off on a hire for that reason, unless they were absolutely sure of a full buyout of the Company already, not likely at this point. The timing of all this might be a little tricky, unless they already have someone in mind, which I think would be great.

[jft310]

And I thought philstar.com was the primary source. I have been missing somethin geez and now they have to rename the weekly show"Dinner with Collin".???No wonder SHU has covered all the possible winning bidder variables...Well we also have covered all the losing combinations when philstar broke up because of a rain storm or was it the earthquake on PNG. I sleep like a baby knowing we have nailed all this down pat. You bet.!!

[cybersssss]

Hmmmm....so what is the consensus. Will the announcement come before Phil retires as CEO or after they choose a new CEO. It does not make sense to me for them to wait t select until a new CEO comes. That ma just be my selfish desire to have the deal done. Biut Phil has been working on this for four years so it does make sense for deal announcement to occur under his tenure (only 2 more trading days). The new CEO, if IOC survives as an independent co, will then focus on achieving fid with the partner and start production.

Thoughts?

[kkozkkoz]

Phil stated “This timing is now, and any new CEO would like upside and input to gain respect by shareholders. If I wait until the transaction is closed, and the stock runs, then he has a flat position while the project is under construction and a selfish outcome that hurts me and everyone. Well, as a long time shareholder I'm ready for our current flat period to end. The executives run the company for the shareholders. They should not be delaying the announcement of the deal so a new CEO can have options which appreciate. This would be disappointing to say the least. If they put the needs of one person against the needs of all the long time shareholders it would be unconscionable.

[Stavros]

In my opinion the deals will all be announced before the end of May.

Will IOC have a CEO in place by then?

Well, it depends on when they started their executive search. If the search started only one week ago then it is highly unlikely to get someone on board within this time period.

Think about it. It takes months to interview potential CEO candidates, funnel it down to a short list, and then negotiate the terms and conditions with the person chosen. A new CEO would then have to wind up activities at his current company before taking the IOC reins. That takes months as well.

Therfore, having a new CEO onboard before the deals means they've been searcing for many months, have already selected the person, agreed on contractual issues and he's nearly finished at his current company

[kommonsents]

I read it a bit differently.

I think PM meant that by bringing on a new CEO now or soon, he will have the chance to start out on a positive note.

Assuming the new CEO comes onboard after the announcement, it will be followed, most likely, by a big pop in PPS and then further increases in PPS over the near term. I fully expect the PPS to continue to increase amid some decreasing volatility, during the development/construction phase and then, as revenues begin coming in from LNG sales, IOC will be a different company based upon more financial fundamentals and derisked.

This will be a fresh and opportunistic field for a new CEO to operate on with lots of potential for growth and success. When the additional prospects are added in, it would be difficult for a new CEO to fail.

[Hoosier1]

Hmmmm....so what is the consensus. Will the announcement come before Phil retires as CEO or after they choose a new CEO. It does not make sense to me for them to wait t select until a new CEO comes. That ma just be my selfish desire to have the deal done. Biut Phil has been working on this for four years so it does make sense for deal announcement to occur under his tenure (only 2 more trading days). The new CEO, if IOC survives as an independent co, will then focus on achieving fid with the partner and start production. Thoughts?

cyber... I'm with you...

I know Phil's statement, as reported bu Blair Price was: “This timing is now, and any new CEO would like upside and input to gain respect by shareholders. If I wait until the transaction is closed, and the stock runs, then he has a flat position while the project is under construction and a selfish outcome that hurts me and everyone."

But that doesn't wash with me that the whole deal has to wait until they find the new guy... really?  What if it takes 9 months?  Total, XOM, RDS or whomever is going to say... Oh okay, we'll wait til your done? SOunds more like a short thesis...

Maybe they already have their pick, then it's mute... But if they do not... I don't buy the announcement waits.

I say Phil's last hurrah as CEO is the deal announcement... Mon or Tues

[Palm]

And or the next CEO is in house. Earlier we've mentioned CV, but what about Gulf LNG project director Allan Zirgulis? He is a former Marathon guy and has excellent project experience. With the team he has around him he would have all the support that Phil mentioned would be needed by the new CEO. Phil specifically stated the need for this support by the new guy. A seasoned veteran of the industry who is already a CEO might not need the level of support Phil seems to be indicating. Zirgulis ALREADY has options and some of those are performance options. The "next stage" is the LNG project stage; he's been involved with that since he's been on board. Interviews for outside CEOs is not a leak we've heard about; seems strange.