'Stavros' pid='69363' dateline='<a href="tel:1463463 Wrote:
'Palm' pid='69356' dateline='<a href="tel:1463454 Wrote:MH really has little say in this. As Operator and the MUCH more experienced in this industry Total has the heavy hand. The overall inexperience of MH is one reason (IMO) he has a need for this size of BOD. Of the 3 CEOs on the medals stand, he takes the bronze. But PM would fare no better. It's what happens when a very small exploration company happens upon a huge discovery. This same inexperience led to the sense of security about having $400 million that he thought would last forever.What you basically said is that IF IOC AND OSH MERGED, it would be suicide for the Company to install Dr. Michael Hession as the CEO.
I don't think anyone on this Board would disagree.
Don't know if that's basically what I said, but it wasn't the point I was making. Phil had to go and it would be more suicidal for him and his crew to gain Board seats. PM's much-bigger-than-MH's-ego caused him to show his hand with the Board nominees he's proposed. Some of his proposals are valid, but his move for Board seats is greatly flawed.
MH was likely one of the few who were interested in replacing PM back when PM's Board made the decision to replace him. IOC was a quickly sinking ship and needed drastic changes. MH likely was not as experienced as we'd like, but the ship was righted. He received an outstanding pay package (yes now too lucrative), but his legals did a great job taking advantage of the situation. Now we are where we are and things aren't perfect. What happens from here is what's most crucial and we'll see how good this team is. Hopefully they've learned that cash is ALWAYS king and not to be squandered.
What would have been certain suicide was to retain PM in the CEO role.