135 - Project Ironman: Saving 600 Jobs and Reshaping the Oil & Gas Industry

The Adrian Tan Show

In this episode, How Meng Hock of OMS shares insights into how Ironman inspired him during a crucial period when his organisation faced potential liquidation in 2019.

The discussion delves into his journey from initial exposure to Ironman through Marvel movies, leading to the initiation of 'Project Ironman'.

As the CEO of an upstream oil and gas company, he demonstrates remarkable resilience in navigating the complexities of preserving jobs and steering the company through financial challenges and industry downturns.

He emphasises the balance between treating employees as social units rather than economic ones.

The conversation includes strategic takeaways from various business books and the practical application of management theories during a multi-year negotiation process.

00:00 Introduction and Guest Welcome

00:11 Ironman as a Role Model

01:00 The Birth of Project Ironman

01:52 Challenges of Announcing Job Cuts

03:19 Understanding the Oil and Gas Industry

05:16 Company's Role in the Upstream Sector

06:58 The Management Buyout Decision

09:21 Navigating Financial and Operational Hurdles

20:53 Support Systems and Team Resilience

27:30 Personal Philosophy and Early Career Lessons

31:26 Balancing Social and Economic Units

31:48 Challenges in the Oil and Gas Industry

32:42 Philosophy of Employee Retention

33:35 Stakeholders vs. Shareholders

34:43 Importance of Cash Flow

35:17 Short-Term vs. Long-Term Goals

37:34 Humility in Leadership

39:40 Lessons from Corporate Acquisitions

42:38 The Impact of Books on Leadership

50:59 Reflecting on Past Mistakes

53:03 Advice to My Younger Self

54:44 Conclusion and Final Thoughts

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