Integrated Annual Report FY21

Message from the Chairman & Chief Executive Officer

“Our strategic intuitions have since become operational certainties.”

The solidity of our foundations was confirmed by the fall-out from the pandemic, which above all enabled us to rapidly put in place new ways of working that are more agile, more direct, and more flexible than before. We are monitoring our resources on an ongoing basis to ensure that they are allocated optimally to each growth opportunity, we are innovating constantly and are continuing to manage our portfolio dynamically. In terms of cost control, we have pooled our skills through the creation of Centres of Excellence, from IT to HR to innovation and consumer research, which are now available to everyone, freeing up time and energy to enable us to focus on what is essential: seizing every opportunity for growth in every market. And it is these new practices, behaviours, and mindsets that we are continuing to expand to ensure ever greater operational excellence.

Crises often play the role of accelerator for both existing and emerging trends and the pandemic has been no different in this respect. In the light of Covid-19, I think it is fair to say that our Transform & Accelerate strategic plan was incredibly far-sighted and a great testimony to the strong insight we brought to its development. Our strategic intuitions have since become operational certainties, convincing us to fast-track our changes - even at the height of the pandemic. Our current plan has the strength of simplicity and the relevance of a proven vision, and we will remain in full deployment mode, focusing on out-sized performance to out-perform the competition.