PPT Slide
Annual Meeting of Shareholders
Notes:
AT THE TIME, FULLER WAS AT A CROSSROADS. THE COMPANY HAD A RICH AND RESPECTED HISTORY, AND WAS KNOWN FOR ITS STRONG COMMITMENT TO EMPLOYEES AND THE COMMUNITY, AND FOR ITS SOLID VALUES. HOWEVER, THE OVERALL BUSINESS ENVIRONMENT WAS CHANGING. OUR PAST GROWTH HAD ELEVATED US TO A COMPETITOR LEVEL WHERE DEMANDS FOR PERFORMANCE WERE INTENSIFYING. FULLER NEEDED TO RE-EVALUATE ITS POSITION, DIRECTION AND PURPOSE TO ENSURE ITS FUTURE VIABILITY.
AND SO WE TOOK THE FIRST STEPS. WE RE-EXAMINED OUR STRUCTURE AND OUR GROWTH OPPORTUNITIES, AND SUBSEQUENTLY DEVELOPED A PURPOSE STATEMENT AND THREE DISTINCT VALUE PROPOSITIONS, FOCUSED ON OPERATIONAL EXCELLENCE, BRAND IDENTITY AND TOTAL SOLUTIONS, TO GUIDE US.
WE CHANGED OUR BUSINESS MODEL TO IMPROVE OUR COST STRUCTURES AND OUR COMPETITIVENESS, AND WE REORGANIZED TO OPERATE WITH A GLOBAL MINDSET AND APPROACH TO DOING BUSINESS.
TO STRENGTHEN THE ENTERPRISE AND ENSURE ITS FUTURE, WE ARTICULATED TO OUR EMPLOYEES OUR DESIRED CULTURE, HIGHLIGHTING WHAT WE SEE AS KEY ATTRIBUTES FOR SUCCESS, INCLUDING A DRIVE FOR PERFORMANCE AND RESULTS, STRONG LEADERSHIP, A FOCUS ON TEAMWORK, AND THE WILLINGNESS TO MAKE TOUGH DECISIONS AND TAKE CALCULATED RISKS.
WE REMAIN ACTIVE IN OUR COMMUNITIES. IN FACT, WE CONDUCTED EXTENSIVE COMMUNITY RESEARCH AND RECENTLY LAUNCHED OUR NEW FOCUS TO HELP IMPROVE EARLY CHILDHOOD AND FAMILY LITERACY. THIS YEAR I ALSO HAVE THE HONOR TO LEAD THE CAMPAIGN FOR THE GREATER TWIN CITIES UNITED WAY.
THE CHANGES WE MADE WEREN’T EASY, BUT THEY WERE ESSENTIAL. AS A RESULT, FIVE YEARS LATER, WE ARE A STRONGER AND MORE STRATEGICALLY ORIENTED COMPANY, AND MUCH BETTER EQUIPPED TO SUCCEED IN TODAY’S WORLD.