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Strategic role
An extremely strong and experienced senior management team under
the leadership of chief executive Bernard Berson is in place at Bidcorp.
As executive chairman I retain a strategic role and provide insights and
direction, where appropriate.
By staying close to markets we stay close to opportunities. That was
always a key element of our business model and will not change.
South African base
Another thing that has not changed is our base. We remain a South
African business with a significant international presence. Control
remains in South Africa and we continue to report in rand terms,
though geographic diversification ensures our financial results are not
dependent on the performance of any one currency.
We operate several substantial businesses in South Africa with a
growing exposure to other African geographies. They are significant
contributors and we continue to invest in their growth.
Within South Africa, our commitment to empowerment remains as
strong as ever. We have always invested in our people and encouraged
personal growth. This will not change. On a strategic level, we see
continued empowerment gains as a source of competitive advantage.
For us, business transformation is an enabler of long-term growth.
Appreciation
Thanks are due to our customers and suppliers for their support in
challenging market conditions. Without their support business
growth would be impossible and I thank them sincerely for their
vital role in our success.
Our managers and people put in a creditable performance in markets
worldwide. Their ability to drive efficiencies and secure growth is
remarkable… and greatly appreciated.
To the Bidvest team under the leadership of chief executive
Lindsay Ralphs, I wish you well as you strive for even greater heights.
I also wish to salute another hard working and dedicated team – the
Bidcorp board of directors. Their wisdom and strategic direction are
invaluable and contributed greatly to our success in a watershed
year. To Lorato Phalatse, who will stand down at the annual general
meeting, sincere thanks for your valued contribution over many years.
The year ahead
Bidcorp is upbeat about prospects in the coming year. Admittedly,
world growth rates remain modest and some national economies face
continued pressure, but our businesses are well positioned relative
to competitors and the board have every confidence in the strategic
direction set in 2016.
Sustained growth is our overriding target as a focused, separately
listed foodservice business.
Brian Joffe
Executive chairman
Leadership review
Bidcorp Limited Annual integrated report 2016 |
Page 11