Cott CEO Reaffirms Commitment to Accountability, Earnings Improvement; Says Company is `Powering Up' for Profitable Growth.MONTREAL--(BUSINESS WIRE)--June 16, 1999-- Echoing a commitment he made upon arriving at Cott Corporation (Nasdaq:COTTF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band .) (ME:BCB.) a year ago, President and Chief Executive Officer Frank E. Weise III today expressed his confidence that the Company will deliver long-term earnings growth by driving three key strategies: focusing on core business, fixing the Company's cost structure, and strengthening its commitment to accountability. He pointed out that results are already showing signs of improvement. Speaking at the 1999 annual general meeting of shareowners of Cott Corporation, Weise used the meeting theme "Powering Up" to describe the revitalization of the Company following a year of restructuring and leadership changes. He cited an emphasis on raising levels of customer service as the Company moves to stronger performance in its three core markets. Weise said that positive results this year affirm Cott's new attention on customer satisfaction. During his discussion of business, Weise introduced the new management team, including Mark Benadiba, president of Cott Canada, David Bluestein, president of Cott U.S., Neil Thompson Neil Thompson (born October 2, 1963, in Beverley, England) is an English former footballer who played in defence for Scarborough, Ipswich Town and Barnsley amongst others. , managing director of Cott U.K./Europe, and Raymond P. Silcock, chief financial officer. Silcock provided an overview of 1998 results and characterized the year's performance as disappointing. Weise said an operational turnaround is beginning to take place, thanks in large part to members of the "Cott Power" employee teams who "have made strides in the past year to lay the groundwork for a healthy, profitable future." Weise also described steps being taken to instill in·still v. To pour in drop by drop. in  stil·la tion n. a culture of
accountability within Cott. "Accountability means 'walking in
the shoes of the shareowner share·own·er n. See shareholder. Noun 1. shareowner - someone who holds shares of stock in a corporation shareholder, stockholder investor - someone who commits capital in order to gain financial returns ,'" he said, and added that it must be "contagious." He recognized the more than 55 teams of Cott men and women who are "tackling problems, waging war on waste and driving change." Under the Company anthem, "98-5-15," employees are being given incentives to drive customer service levels to 98 percent, to grow sales by at least 5 percent and to improve ongoing earnings per share by 15 percent. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Weise, the drive for accountability reaches all levels of the Company and is unstoppable. "It provides both a measurement and inspiration for meeting all our goals," he said. To recognize employee excellence and achievement, Weise awarded the first annual Gerald N. Pencer Award for Excellence in Innovation to Rod Boll and John Clements
Sir John Selby Clements, CBE, KBE (25 April 1910 – 6 April 1988) was a English actor and producer. He made his first stage appearance in 1930. , members of the manufacturing staff at the Company's Kegworth facility in the United Kingdom. Boll and Clements were recognized for the initiative in identifying a key packaging solution that led to savings of more than $120,000. "The Pencer Award includes a $10,000 CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. prize, 50 percent of which is in the form of Cott stock," said Weise, "(reaffirming) our belief that there is no higher motivator to outstanding performance than ownership." The award, announced at the July 1998 Cott Annual General Meeting, is intended to stimulate employee innovation in the three areas where the company has stated business goals: customer service, sales growth and improved earnings. During the formal business meeting, PriceWaterhouseCoopers was re-appointed auditor to the Company. No shareowner issues were raised or voted upon. The 11-member Cott Board of Directors was reelected, with members including: Colin J. Adair, W. John Bennett
John Bennett may refer to:
Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statements -- This news release may contain forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future performance of Cott. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions. |
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