We are prioritizing the future of aviation now for a more sustainable future. We delivered solid margin* and EPS* performance and $5.8 billion of Industrial free cash flow*[2] for the year. Improved Business and Operating Performance. Headquartered in San Jose, California, and with a diverse global population of more than Our new performance management system is driving greater responsibility at an individual level. Dear Partners: Over the past month, Ive traveled the country As one of the largest and most diversified software companies in the world, Adobe empowers everyone from individuals and small businesses to government agencies and global brands to design and deliver exceptional digital experiences. Most notably, its dramatically accelerating how technology is reshaping life and business. BlackRock wants to see the companies we invest in for our clients evolve and grow so that they generate attractive returns for decades to come. Ron DeSantis is hinting at legal action against Capital markets have allowed companies and countries to flourish. Letter to Shareholders Read GEs 2022 Proxy Statement, vote your shares and access the 2022 Annual Meeting. Delivering on the competing interests of a companys many divergent stakeholders is not easy. I am convinced that the efforts of our employees, collectively and individually, will enable us to successfully execute our strategy. 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. MetLife, Inc. 2021 CEO Letter to Shareholders. These constant, incremental changes make us a more efficient, profitable business. $15.9 billion. Starting with Aviation, innovations that improve fuel efficiency are defining the future of flight, and our engines can operate on approved sustainable aviation fuel (SAF) today. This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better. Workers demanding more from their employers is an essential feature of effective capitalism. Commercial Banking. From our Chair & CEO Overview 2021 Letter to Shareholders Creating value in fiscal 2021 In fiscal 2021, we delivered both outstanding financial results and Investor Relations in February 2022. In a few short years, we have all watched innovators reimagine the auto industry. Apple CEO Tim Cook told shareholders that 2020 was a period of prolific innovation. 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. In theUK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Today, GE is a stronger, more customer-centric company. 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. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 549 5200, Tel: 31-20-549-5200. Web2022 Annual Letter. Bold incumbents can and must do it too. When my partners and I founded BlackRock as a startup 34 years ago, I had no experience running a company. 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. You will find key information about the Group's activity: message from top management, key figures, strategy, news, and shareholders information. Combining this with our historical strength in technology and innovation, each of our businesses has a very strong foundation for continued and faster profitable growth. 2021 Letter to Shareholders | Accenture 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 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. WebLetter to Shareholders. The majority of our clients are investing to finance retirement. WebLetter from Your Chairman. It is a privilege. 2020 was a year like no other. WebJamie Dimon, Chairman and Chief Executive Officer Dear Fellow Shareholders, We are facing challenges at every turn: a pandemic, unprecedented government actions, a As a result, total reported sales increased by CHF 7.3 billion or 8.4% to CHF 94.4 billion. 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. [3] Includes borrowings, after tax pension & principal retiree benefit plan liabilities, operating leases, 50% preferred stock, and factoring. We believe that AIs contributions are not limited to efficiency improvements. Our energy expertise spans from renewable wind energy to emission-reducing natural gas, as well as physical and digital solutions to modernize the grid connecting it all. CEO Message WebWe would like to show you a description here but the site wont allow us. Our second founders letter began: Google was born in 1998. This means managing the nearly 30 business units within our four segments. This still rings true at GE today and will continue in each of our three future companies. My goal was to give some concrete examples of annual letters that I thought stood out in a positive way. Add to this the resilience of our employees and we exited the year with big opportunities ahead. It belongs to people in dozens of countries trying to finance long-term goals like retirement. Overview . Adjusting for $9.8 billion in credit reserve releases, our return on equity would have been 26%. This is the power of capitalism. 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. And BlackRock does not pursue divestment from oil and gas companies as a policy. I encourage you to ask that your asset manager gives you the opportunity to participate in the proxy voting process more directly. And the relationship between a company, its employees, and society is being redefined. Young, innovative companies have never had easier access to capital. As companies rebuild themselves coming out of the pandemic, CEOs face a profoundly different paradigm than we are used to. A shareholder letter is a letter written by a firm's top executives to its shareholders to provide a broad overview of the firm's operations throughout the year. Chair and CEO. Bringing down this green premium will be essential for an orderly and just transition. In 2022, Commercial Banking (CB) remained focused on executing our long-term strategygrowing our client franchise, investing in our platform and capabilities, and empowering and enabling our teams. That is why your voice is more important than ever. At BlackRock we are doing the same: working with our own employees to navigate this new world of work. For information or educational purposes only, not for reuse, redistribution, or any commercial activity, and does not constitute investment advice or an offer or solicitation to purchase or sells in any securities or any investment strategies. And the duty to attract that capital in a responsible and sustainable way lies with you. 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. WebNVIDIA shareholders, We are lowering our revenue guidance for the fiscal 2019 fourth quarter to $2.2 billion, plus or minus two percent. Customers Etihad Airways, British Airways and many more have also flown commercial flights powered by a SAF fuel blend. David Hogg: Bridging The Divide Jul 19, 2023,01:35pm EDT Why Companies Need To Defend Their Diversity Policies Jul 19, 2023,01:26pm EDT Letter to Shareholders We remain confident in the recovery while actively managing the impact of industry-wide material and labor availability challenges due to COVID-19. We are taking action to de-risk our business and drive sustainable, predictable performance. When I started Facebook, we mostly typed text on websites. They risk losing jobs, even as other places gain them. 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 deleveraging efforts will continue, further solidifying our financial position and allowing GE to play more offense through organic and inorganic growth opportunities. Larry Culp, Chairman & CEO GE. And just as some companies risk being left behind, so do cities and countries that dont plan for the future. 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. Letter The auto industry, however, is merely on the leading edge every sector will be transformed by new, sustainable technology. We enter 2022 with lean taking root across the company. Dear CEO, Each year I make it a priority to write to you on behalf of BlackRocks clients, who are shareholders in your company. We need to be honest about the fact that green products often come at a higher cost today. Ron DeSantis threatens Anheuser-Busch over Bud Light Address: 28F., No. Ira Robbins Chief Executive Officer. We expect to deliver between $5.5 billion* and $6.5 billion* free cash flow in 2022 and more than $7 billion* in 2023. GE released its 2021 Annual Report today. To our shareholders 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 Alibaba Group published its annual report on Tuesday for the fiscal year ended March 31, 2021. CEO 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. RISING TO THE CHALLENGE OF BUILDING A WORLD THAT WORKS. The quit rate in the US and the UK is at historic highs. Weve built this team so we can understand your companys progress throughout the year, not just during proxy season. Its changing how people work and how consumers buy. Our Renewable Energy site in Pensacola, Florida used lean to improve wind turbine yaw-drive assembly which reduced production time by 20 minutes and contributed to increased shift capacity from four to five units. At BlackRock, we want to understand how this trend is impacting your industry and your company. Its also why we ask you to issue reports consistent with the Task Force on Climate-related Financial Disclosures (TCFD): because we believe these are essential tools for understanding a companys ability to adapt for the future. Shareholders 3700 West Juneau Avenue Millwaukee, Wisconsin 53208. contact us by phone, 877-HDSTOCK (437-8625) (toll-free) CEOs of established companies need to understand this changing landscape and the diversity of available capital if they want to stay competitive in the face of smaller, more nimble businesses. September 10, 2022. Letter from Your CEO When we started out, we were looking forward to a great year of sport, with the UEFA EURO 2020 and the Olympic Games in Tokyo at its core. WebShareholders newsletters. (25:11) Section II The Extraordinary Need for Strong American Leadership. board recommended that Vanguards shareholders vote against an ESG-related shareholder proposal. Offshore Wind demand continues to significantly increase globally, while Grid Solutions is on its way to profitability. By making the strategic decision to discontinue the majority of our factoring programs, we enable our businesses to get back to basics on billings and collections, and over time, we expect this will facilitate higher and more linear cash flow. Alibaba Group published its annual report on Friday for the fiscal year ended March 31, 2023. They may hijack your brand to advance their own agendas. In Latin America: No securities regulator has confirmed the accuracy of any information contained herein. Through individual holdings, mutual funds and pension plans, as well as our own TELUS team members SHAREHOLDERS
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