Letter to Shareholders As your industry gets transformed by the energy transition, will you go the way of the dodo, or will you be a phoenix? WebWe delivered the highest net income and core earnings in our Companys history in 2018. The majority of our clients are investing to finance retirement. And its not just startups that can and will disrupt industries. Divesting from entire sectors or simply passing carbon-intensive assets from public markets to private markets will not get the world to net zero. How to Write a Letter to a CEO - Career Trend Dear CEO, Each year I make it a priority to write to you on behalf of BlackRocks clients, who are shareholders in your company. As capitalists and as stewards, thats our job. Letter When my partners and I founded BlackRock as a startup 34 years ago, I had no experience running a company. These independent businesses will take forward the core of GE while better leveraging our innovation muscles, technology expertise, leadership, and global reach to build a world that works for everyone. Letter to Shareholders COVID-19 has also deepened the erosion of trust in traditional institutions and exacerbated polarization in many Western societies. Investor Relations CEO Return on average common shareholders equity (ROE) was 23.0 percent, the highest since 2007, and return on average tangible common shareholders equity (ROTE) 1 was 24.3 percent. Healthcares Ultrasound team implemented lean principles of pull and daily management to better meet customer needs, resulting in a 13-percentage-point improvement in on-time delivery. BlackRocks Investment Stewardship team remains core to our fiduciary approach, and many of our clients prefer that the team continues to engage and execute voting on their behalf. Turnover drives up expenses, drives down productivity, and erodes culture and corporate memory. Are Honest With Their Shareholders By the end of the week, we had improved processes for welding and quality checks on midframe parts, improvements that are now delivering 99 percent first-time yield, as compared with 59 percent before the lean event. WebShareholders newsletters. My 2020 Letter To Shareholders. Annual Report CEO Adam Aron said a court ruling Friday that makes it harder for AMC Entertainment to raise we MUST be able to raise equity capital, he wrote in an open September 17, 2019 . 1 . As companies rebuild themselves coming out of the pandemic, CEOs face a profoundly different paradigm than we are used to. Thus, while GE works on breakthrough technologies for tomorrow, we continue to build and deliver state-of-the-art equipment the world needs today to decarbonize the energy sector while building resilience in more than 175 countries around the world. The letter also gives the shareholders an outlook from the top executives, especially the CEO, and their ability to turnaround the company and increase shareholder value. Registered in England and Wales No. When I started Facebook, we mostly typed text on websites. In todays globally interconnected world, a company must create value for and be valued by its full range of stakeholders in order to deliver long-term value for its shareholders. We need to pass through shades of brown to shades of green. Letter to UPS CEO Carol Tom About Extended Strike Anheuser-Busch CEO on Bud Light boycotts, his company's reponse and comeback strategy 09:04. In this polarized world, CEOs will invariably have one set of stakeholders demanding that we do one thing, while another set of stakeholders demand that we do just the opposite. Weve built this team so we can understand your companys progress throughout the year, not just during proxy season. As long-term investors, we are committed to working with companies from all industries. April 27, 2023. Our shareholders are benefiting from our "all-weather" strategy and focus on continuous improvement. 1 Kushel R., Van Nostrand E., Weinberg C., Paul V., Tran Q., Kazdin J., Schwaiger K., Basu D., Segafredo L., Dieterich C., Seeking outperformance through sustainable insights, BlackRock, October 2021, page 8. We expect to deliver between $5.5 billion* and $6.5 billion* free cash flow in 2022 and more than $7 billion* in 2023. The latest AMC stock price spike comes after the CEO of the cinema theater chain, Adam Aron, posted a letter on a subject of existential importance to the companys shareholders. We are taking action to de-risk our business and drive sustainable, predictable performance. That is why your voice is more important than ever. Data includes Sustainable Mutual Fund, ETF, Institutional and Alternative AUM, as defined by third party data sources, excluding integration/engagement flags. $15.9 billion. The auto industry, however, is merely on the leading edge every sector will be transformed by new, sustainable technology. Performance in our asset management business was very strong, resulting in total Distributable Earnings of $6.3 billion for the year. We are fortunate to have experienced leaders in place, already at work to execute this planned transformation and stand up each of these businesses for success on day one. Below is a letter from Chairman and CEO Daniel Zhang to shareholders. The stakeholders your company relies upon to deliver profits for shareholders need to hear directly from you to be engaged and inspired by you. WebNVIDIA shareholders, We are lowering our revenue guidance for the fiscal 2019 fourth quarter to $2.2 billion, plus or minus two percent. We will continue to pursue innovation and work with other market participants and regulators to help advance this vision toward reality. How are you ensuring that employees of all backgrounds feel safe enough to maximize their creativity, innovation, and productivity? The conversations we had were both I am so proud of the breadth and consistency of our success in delivering value to our clients and shareholders. I urge you to read it. And each will have the opportunity to attract a broader and deeper investor base that increasingly wants to be part of more specific industries and missions that have their own appeal. This program could ultimately lead to engines that would use 20 percent less fuel and produce more than 20 percent fewer CO2 emissions than the most efficient jet engines built today. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975 AFSL 230 523 (BIMAL). And in that short period, we have seen a tectonic shift of capital.3 Sustainable investments have now reached $4 trillion.4 Actions and ambitions towards decarbonization have also increased. Letter Through individual holdings, mutual funds and pension plans, as well as our own TELUS team members The McDonald's business continues to generate significant cash flow, allowing us to reinvest in the business for future growth. This is just the beginning the tectonic shift towards sustainable investing is still accelerating. March 25, 2020. In 2021, GE Digital acquired grid management software company Opus One to help utilities bring more distributed energy resources online. s a company whose equipment helps generate one-third of the worlds electricity, carbon capture, utilization, and sequestration (CCUS), Take for instance, our work in Lynn, Massachusetts, where I spent a week serving those closest to the work, our operators, as part of a global lean event in early October. 5 Exemplary CEO Annual Letters Worth Reading. As the healthcare system continued to contend with COVID-19 in 2021, GE Healthcare implemented a statewide system in Oregon powered by artificial intelligence to give clinicians near real-time information about intensive care unit (ICU) capacity, acute hospital beds and emergency department wait times. We are at the beginning of the next chapter for the internet, and its the next chapter for our company too. Were seeing momentum in GE today including near-term improvement in our businesses, especially as Aviation recovers and our end markets strengthen. It will also leave behind the companies that dont adapt, regardless of what industry they are in. How are you ensuring your board has the right oversight of these critical issues? A Letter to Shareholders. WebEnd of YearCEO Letter to Investors. For your protection telephone calls are usually recorded. WebLetter to Shareholders. Larry Culp, Chairman & CEO GE. Letters to Shareholders Explore the latest stories, news, downloads, and press tools. I am sure there are many other good annual letters, and I do not mean to imply that the ones above are the only ones that are excellent. September 10, 2022. The letter may also serve as a progress report for current or future investors. Message from Howard Schultz: On the Future of Starbucks. But access to capital is not a right. [1] Includes borrowings, after tax pension & principal retiree benefit plan liabilities, operating leases, 50% preferred stock, and factoring. CEO At BlackRock we are doing the same: working with our own employees to navigate this new world of work. WebAsset & Wealth Management. As a company whose equipment helps generate one-third of the worlds electricity, we have a responsibility to lead the industrys decarbonization efforts and meet the rising global demand for affordable, reliable, and sustainable energy. WebCEO letter. Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Adam Aron Ron DeSantis is hinting at legal action against It drives prosperity and creates a more competitive landscape for talent, pushing companies to create better, more innovative environments for their employees actions that will help them achieve greater profits for their shareholders. GE Aerospace is a world-leading provider of jet engines, components and systems for commercial and military aircraft with a global service network to support these offerings. From our Chair & CEO Overview 2021 Letter to Shareholders Creating value in fiscal 2021 In fiscal 2021, we delivered both outstanding financial results and Webtransforming our operating model, creating greater value for both consumers and our shareholders. download PDF . As stewards of our clients capital, we ask businesses to demonstrate how theyre going to deliver on their responsibility to shareholders, including through sound environmental, social, and governance practices and policies. Following this, we also report the now much smaller remaining GE Capital business as part of Corporate, enabling us to simplify our financial reporting structure and further enhance transparency for our shareholders. Letter to Shareholders . In addition, with new reporting of our priorities and progress in sustainability and diversity, we are holding ourselves accountable to make improvements within GE and for the world. This clarity of mission provides compelling opportunities for our businesses to define the trajectory of their industries we shape the future of flight, advance precision health and lead the energy transition and we do it by getting better every day. Our energy businesses provide powerful, integrated solutions with some of the most innovative onshore and offshore wind turbines, most efficient gas turbines, as well as advanced technology to modernize and digitize electrical grids. We are prioritizing the future of aviation now for a more sustainable future. View Transcript. We have, therefore, moved the decision-making center of gravity closer to the customer. Learn how were delivering on our priorities. WebStarting with our commitment to our shareholders, Accenture shares provided a 23 percent total return for the year ended August 31again outperforming the S&P 500 Indexand also provided a 23 percent compound annual total return to shareholders over the last five years, compared with 14 percent for the S&P 500 Index.We did so as a President and CEO. Were enormously grateful that in these uniquely challenging times weve been able to provide our members around the world with a Each year I make it a priority to write to you on behalf of BlackRocks clients, who are shareholders in your company. Every company and every industry will be transformed by the transition to a net zero world. Time and again, what they all share is that they have a clear sense of purpose; consistent values; and, crucially, they recognize the importance of engaging with and delivering for their key stakeholders. Ask bigger questions: our purpose in action, Using our voice as shareholders: 2022 stewardship global principles, 2022 | 2021 | 2020 | 2019 | 2018| 2017 | 2016 | 2015 |2014 |2012. Letter to Shareholders WebLetter from the Chairman and CEO. Web2022 Annual Letter. The typical, generic annual letter that I read adds little to the numbers and sometimes obfuscates more than it illuminates. Crossing the horizon: North American asset management in the 2020s, Sustainability: The tectonic shift transforming investing, BlackRock. Letter Chairman & Chief Executive Officer BlackRock, Inc. 50 Bold incumbents can and must do it too. MetLife, Inc. 2019 CEO Letter to Shareholders. For your protection telephone calls are usually recorded. This means managing the nearly 30 business units within our four segments. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. Tel: (02)23261600. I believe the decarbonizing of the global economy is going to create the greatest investment opportunity of our lifetime. Engineers and scientists are working around the clock on how to decarbonize cement, steel, and plastics; shipping, trucking, and aviation; agriculture, energy, and construction. The material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. The pandemic has turbocharged an evolution in the operating environment for virtually every company. [4] We have over 7 GW of Haliade-X commitments worldwide. Which CEOs write some of the best shareholder letters? - Quora And GE Aviation together with GE Research is advancing commercial hybrid electric propulsion systems through key partnerships with ARPA-E and NASA. Overview . (25:11) Section II The In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. At a patient level, Healthcares acquisition of BK Medical, an advanced surgical visualization company whose technology helps clinicians see inside the patients body in real time during surgery, will enable better care, faster surgeries, and reduced complications. In the U.S. and Canada, this material is intended for public distribution. Given this ongoing hard work and the dedication of our employees, we are operating from a position of strength, focused on important growth sectors in aviation, healthcare, and energy. In the letter, Aron said the company made the necessary amendments to the settlement plan aimed at resolving issues voiced by Delaware judge Morgan Zurn. At adidas, we delivered a set of strong results despite heavy disruptions in supply and demand, with currency-neutral sales up 16% to more than 21 billion and a net income from continuing operations of 1.492 billion an improvement of more than 1 billion compared to the previous year. Stakeholder capitalism is all about delivering long-term, durable returns for shareholders. More than half of the good news was attributed to the CEO and all the bad news was attributed externally. Letter from Starbucks ceo Howard Schultz: Investing in our shared future. CEO Letter Letter 4 Sources: Morningstar, Simfund, Broadridge. We focused and de-risked the company through strategic portfolio actions, significantly accelerated our debt reduction, and improved our operating performance through lean and decentralization. The CEO Letter To Shareholders: A Great Vehicle To WebAnnual Letter to Shareholders Annual Letter to Shareholders Emerging from 2020 in a position of strength While conditions were challenging in most markets, we still achieved nearly $20 billion in full year revenue and over $90 billion in full year Systemwide sales. For example, Healthcares Pharmaceutical Diagnostics team in Ireland applied lean thinking to create, test, and implement new workflow and preparation sequences that reduced production turnaround times. Our software is paving the way to an autonomous grid that can detect problems and come up with the most efficient solutions, a critical step in accelerating the energy transition. WebWe earned $24.4 billion in net income on revenue 1 of $103.6 billion (if we exclude the tax charge at year-end, 2017 net income would have been a record $26.9 billion), reflecting strong underlying performance across our businesses. Its true the surge in capital markets Registered in England and Wales No. We need to be honest about the fact that green products often come at a higher cost today. Scott Strazik is now leading our energy businesses running a similar play as he ran in Gas Power being more selective up front about the new business we take on and being more disciplined on cost and the onus is on us to continue to improve the performance of this business. WebA Fundamental Reshaping of Finance. MetLife, Inc. 2020 CEO Letter to Shareholders (opens in new window) 3.65 MB. (9:13) Section I Significant Geopolitical and Economic Challenges. Regards, David A. Ricks. It belongs to people in dozens of countries trying to finance long-term goals like retirement. As we pursue these ambitious goals - which will take time - governments and companies must ensure that people continue to have access to reliable and affordable energy sources. WebI began as the CEO of Nike in January. board recommended that Vanguards shareholders vote against an ESG-related shareholder proposal. Today, GE is a stronger, more customer-centric company. We were well-positioned to effectively navigate such challenging circumstances We took a huge step in 2021 with the close of the GE Capital Aviation Services (GECAS) and AerCap Holdings N.V. (AerCap) transaction, creating an industry leader and strategic partner to airline customers. Long-term, our energy businesses are firmly positioned to lead the energy transition. WebWe also achieved significant milestones in the increasingly important area of ESG. Voices is a network for GEs US supporters interested in the companys impact in their communities and in issues that impact the company. Letter to Shareholders Enabling precision health integrated, efficient, and highly personalized care is vital to addressing critical challenges that affect patients and healthcare providers. Dear Partners: Over the past month, Ive traveled the country and met with thousands of you from our retail stores and all five roasting plants as we embark on co-creating the future of Starbucks. With record bookings and record revenues, we continued to take market share, grow For us at GE, this is more than just a job; it is a purposeful mission we are building a world that works. Orders were up across equipment and services, driven by commercial wins. You will find key information about the Group's activity: message from top management, key figures, strategy, news, and shareholders information. A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint. In one instance, the Oregon Care System was able to identify the nearest ICU to airlift a critically ill patient to and alert the ambulance crew to pack several liters of the patients blood type in the helicopters coolers. What are you doing to deepen the bond with your employees? shareholders Together with our customers, were proving that no one is ever limited to only affordable, reliable, or sustainable energy. Line of Business CEO letters to shareholders. Florida Gov. Published on July 21, 2023. WebFinally, our tangible book value per share 1 increased to $81.65, and we returned more than $7 billion to our shareholders through common dividends and share repurchases. Most notably, its dramatically accelerating how technology is reshaping life and business. SVB IS A TRUSTED FINANCIAL PARTNER OF THE To do this well, we work every day on improving our own operations. With an expected annual dividend of $1.11 per share, AT&T will continue to deliver an attractive dividend yield and be among the highest dividend yield payers in WebChairman and CEO letter to shareholders. September 8, 2022. Bringing down this green premium will be essential for an orderly and just transition. And today, every car manufacturer is racing toward an electric future. shareholders Both wind farms are using wind turbines from our 2-megawatt (MW) family, which has become a stalwart of the industry, with more than 20 gigawatts (GW) of installed capacity. I'm proud of the Our technology, global network, and exceptional team is fueled by a missionbuilding a world that works. Our new performance management system is driving greater responsibility at an individual level. Letter to Shareholders Source: Shutterstock. 2023 BlackRock, Inc. All rights reserved. The shareholder letter serves as a foundation for new investors to understand the organization. Our deleveraging efforts will continue, further solidifying our financial position and allowing GE to play more offense through organic and inorganic growth opportunities. Goldman Sachs In December 2021, a United Airlines Boeing 737 MAX 8 powered by CFM LEAP-1B engines became the first passenger flight to use 100 percent drop-in SAF for one of the aircrafts two engines. WebTo the Shareholders of Berkshire Hathaway Inc.: Berkshire earned $42.5 billion in 2020 according to generally accepted accounting principles (commonly called GAAP). 2 CEO's Letter. And any plan that focuses solely on limiting supply and fails to address demand for hydrocarbons will drive up energy prices for those who can least afford it, resulting in greater polarization around climate change and eroding progress. No relationship has been changed more by the pandemic than the one between employers and employees. Letters to Shareholders. Gas Power has stabilized, Steam Power continues to exit the new-build coal power market, Power Conversion grew by double digits, and GE Hitachi Nuclear is partnering with customers on the next generation of nuclear technologies. WebOur average deposits of $851 billion were up 22% over 2019, and client investment assets reached $590 billion, up 18%. CEO Bob Bradway's 2020 Letter To Shareholders SHAREHOLDERS
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