It is an honor and satisfaction for me to address to you and tell you about our company.
2018 has been a year of far-reaching changes and necessary decisions aimed at the transformation of the company. We have laid the foundations for a future of orderly, sustainable and profitable growth.
We have accordingly undertaken an ambitious range of structural actions and decisions in terms of business, financial and operational dimensions.
As Chairman my role is to describe the challenges and opportunities with the utmost clarity and transparency. With that goal in mind, our plan, which was our roadmap for transforming and developing the company, consisted of the following elements:
First, an exhaustive and in-depth diagnosis of the Industry in Kuwait, GCC and across the Middle-East. Secondly, a structured framework of strategic guidelines to lend coherence to our initiatives, both those we have taken so far and others that we shall explore in future.
We look to set ambitious strategic targets for growth, performance and cash generation over the following three years as a result of those initiatives.
Today, with the Strategic Plan, we have an effective tool to ensure that our company becomes a profitable, financially robust company with a focus on sustainable growth, and that it becomes increasingly attractive to customers and employees.
The Plan is structured into strategic guidelines that shape the various initiatives: cost reduction and improved competitiveness; product portfolio; sales strategy; delivery model; growth in new businesses; and, finally, cultural change.
Mohammed S. Almutairi