BIC BIC Group - Press Release
Clichy - 12 December 2018
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BIC announces organizational review to increase operational effectiveness and support long-term profitable growth
To build on BIC's history of success and to meet the rapidly-evolving needs of consumers globally, BIC Group is committed to becoming more agile, productive, and consumer-centric. While our mass production capability, brand equity, and international footprint remain core strengths, an enhanced entrepreneurial and innovative approach to operations will further our performance. Creating value for all stakeholders also requires that the organization develop capabilities that fully leverage the power of the brand - not only in existing markets, channels, categories, and business models but also in new ones. Ultimately, driving productivity and increasing efficiency will free up resources to reinvest in future growth.
BIC is, therefore, initiating a review to increase operational performance. We will:
- Advance our global, flexible and cost-effective production model by optimizing procurement and other processes across our supply chain
- Strengthen our global brand leadership by innovating at the pace that our consumers evolve, based on real-time insight about their behaviors and needs
- Drive value growth by sharpening our commercial operations and developing 'Routes-to-Market' to become an omnichannel specialist
- Improve the effectiveness of our support functions -- specifically Finance, HR, and IT -- while expanding capability and fluidity of operations
- Support our talent development programs that enhance skills and capabilities across the organization.
A dedicated team is conducting a thorough review of our organization to develop an action plan that will make these goals a reality. We will share the outcomes of this review during the first quarter of 2019.
"We must reimagine BIC so that we are fully able to address today's challenges and opportunities, as well as tomorrow's. Being agile, integrated and innovative is a short-term pre-requisite for our future growth, sustained profitability and cash generation. I'm fully confident in the ability and engagement of our teams to put these foundational capabilities in place."
Gonzalve Bich, BIC Chief Executive Officer.
Contacts
| Investor Relations: +33 1 45 19 52 00 | Press Contacts |
| Sophie Palliez-Capian sophie.palliez@bicworld.com | Albane de La Tour d'Artaise Albane.DeLaTourD'Artaise@bicworld.com |
| Michèle Ventura michele.ventura@bicworld.com | Isabelle de Segonzac: +33 1 53 70 74 70 isegonzac@image7.fr |
For more information, please consult the corporate website: www.bicworld.com
2019 Agenda (all dates to be confirmed)
| Full Year 2018 results | 13 February 2019 | Meeting - BIC Headquarters |
| First Quarter 2019 results | 25 April 2019 | Conference call |
| 2019 AGM | 22 May 2019 | Meeting - BIC Headquarters |
About BIC
BIC is a world leader in stationery, lighters and shavers. For more than 70 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication BIC has become one of the most recognized brands and is a trademark registered worldwide for identifying BIC products which are sold in more than 160 countries around the world. In 2017, BIC Net Sales were 2,041.4 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part of the following Socially Responsible Investment indexes: CDP's "Leadership Level" (A-) and "Leadership Level" for the additional "Supplier" module, Euronext Vigeo - Eurozone 120, Euronext Vigeo - Europe 120, FTSE4Good indexes, Ethibel Pioneer and Ethibel Excellence Investment Registers, Ethibel Sustainability Index (ESI) Excellence Europe, Stoxx Global ESG Leaders Index.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BIC via Globenewswire
