In 2013, Carol SingletonSlade, Steve Goodman, Trent Aulbaugh and Roger Aguirre of Egon Zehnder’s Global Energy Practice warned of the dire need for identifying and training a new generation of qualified and prepared executives who are ready and willing to lead oil and gas companies. Four years later, as Chevron’s chief executive John Watson is set to step down, his likely replacement is a representation of this “new leadership for a changing oil world.”
Board members today must grapple with increasingly complex matters of strategy and risk. In response, many companies are rethinking board meetings to enhance alignment, energize the board and elevate its performance.
Cyclical market volatility will continue to be standard in the energy industry. An impending market rebound has many feeling cautiously optimistic, but the extended cycle of the current downturn — now being characterized as “lower for longer” — has revealed a new reality in the energy sector that will change leadership imperatives for the foreseeable future.
An impending market rebound has many feeling cautiously optimistic, but the extended cycle of the current downturn – now being characterized as “lower for longer” – has created a new reality that will change leadership imperatives for the foreseeable future. Energy leaders are realizing that lower prices, unpredictable market dynamics and hyper competition for talent, resources and capital are driving a need to rebuild and adapt businesses or risk being left behind. In this new reality, it’s critical to strike a balance between disruption and discipline – understanding how to best lead innovation while still adhering to longstanding best practices that will ensure longevity regardless of future market fluctuations.
Languishing oil prices are making Chapter 11 a reality for a growing number of energy companies. In their recent article More Than Filling Empty Seats: A Guide to Board Composition for Energy Companies Emerging from Bankruptcy, Steve Goodman and Trent Aulbaugh explain how board restructuring can help firms bounce back after Chapter 11.
The energy boom that ran for much of the first half of the decade generated both record revenues and ready access to capital that was often collateralized with oil marked at $90 or more per barrel.
In a contributed piece for Rigzone, Steve Goodman and Todd Auwarter provide a primer for identifying and developing leadership talent during the downturn in the oil and gas industry.
The challenges posed by the epic turbulence in the price of oil will highlight how effective the boards of directors of different companies are in providing meaningful guidance and counsel to their CEOs.
From exploration to distribution, the energy industry is confronting historic challenges and opportunities that are testing the ability of its leaders to navigate uncertainty
Uncertainty and volatility are prompting energy firms to seek more strategic, diplomatic leaders reports Hunt Scanlon. Boards also need to boost their effectiveness in downturns, warns Steve Goodman, Leader of Egon Zehnder’s US Energy Practice.
A number of energy specialist recruiters polled by Hunt Scanlon Media over the last several weeks said ‘economic uncertainty’ and ‘political volatility’ were having a significant impact on petroleum and natural gas companies, but new leadership requirements were surfacing as a result
In the current slump energy companies face a tough balancing act between preserving their balance sheets and protecting their talent pipeline, reports Rigzone
For the fifth consecutive year, Egon Zehnder is honored to announce its presence as a strategic partner at IHS CERAWeek, an event that brings together leaders and experts from the global energy community for exchanges and insights into key issues.
The annual visit to the doctor for a physical exam is an ironic ritual of modern life. After all the questions and tests, the desired outcome is to hear that nothing is wrong. While freedom from illness is a very good thing, there is a big difference between that and being in peak condition. How much more informative would the annual checkup be if it could tell us not just how to avoid sickness but how to be stronger and more flexible and have greater endurance? Rather than being a chore, the exam’s insights might make it something to look forward to.
The trend towards shareholder activism continues to gather impetus. According to The Houston Chronicle, many large companies based in Houston have recently come under fire from shareholders.
How can boards prick up the pieces after a proxy fight, asks The Houston Chronicle? Steve Goodman, leader of Egon Zehnder’s North American Energy Practice, advises board members and executives to reunite quickly and focus on improving company performance.
Following a five-year boom, the oil industry is experiencing a downturn due to falling prices at the pump. Steven Goodman, who leads Egon Zehnder’s Energy practice, says executives at oil companies can take advantage of this time to strengthen and enhance their core leadership teams.
The drop in oil prices means everything from exploration to delivery is now more expensive and that's likely to spur a wave of merger and acquisition activity in the energy space as companies look to diversify their holdings.
The market turbulence, high levels of M&A activity, and the ongoing challenges of public dialogue are testing the mettle of energy industry chairmen and chief executives who must chart a course forward and maintain high performance during uncertain times. To see how industry leaders are grappling with this task, Egon Zehnder convened a panel discussion on energy leadership at CERAWeek 2015, the industry’s premiere annual gathering. Here is what we heard.
With a massive leadership talent shortage on the horizon, the oil and gas industry needs to radically overhaul its approach to identifying and developing leadership talent.
Boards of directors in the energy sector have been changing faster than ever – and if activist investors have their way, there’s more to come.
Just when it seemed that the role of energy CEO couldn’t become any more complex or demanding, it did. Macondo, Fukushima, Keystone, Iran, the Arab Spring, and the rise of unconventional plays offer only the sparest shorthand for the risks, regulatory blowback, and geopolitical uncertainties that now dominate the agenda of the energy chief executive.
“I wish I had known then what I know now.” That’s the frequent refrain we hear in candid conversations with a surprising number of C-level executives.
In an interview with CERAWEEK, Steven Goodman, consultant at Egon Zehnder in Houston and leader of the North American Energy Practice, talks about CEOs in energy and stresses the importance of professional CEO succession planning and grooming future leaders.
In recent years oil and gas companies have applied innovative technologies to make discoveries of vast new hydrocarbon resources. If only it were that easy for them to deal with a dire challenge above ground: identifying and training a new generation of qualified and prepared executives who are ready and willing to lead oil and gas companies at this pivotal time in the industry’s history.