There are more things to look at:
DD, as the new CEO, has a checkered history, and no track record of substantial success. He has just been fined by the SEC and left McDermott with a lackluster track record. It still remains to be seen if his hire was a good one, but at the very least this blunt and harsh realignment of timelines and project status is a good start for him. He is not sugarcoating them.
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