Good morning ladies and gentlemen.
I would like to
begin by congratulating Richard Evans and his team for an
outstanding year in 2006 — Dick’s first at Alcan’s helm. With
the strong aluminum market and a seamless succession in the
CEO’s office, the Company’s continued focus on value
maximization paid off with record results.
Dick is to
be credited as well for surrounding himself with an extremely
capable and highly motivated team. As you may be aware, the
unanticipated departure of the head of one of our four
business groups late in 2006 provided an opportunity to renew
and further strengthen the Executive Committee of the Company.
Internal promotions resulted in new leadership for three of
Alcan’s four businesses.
From a governance perspective,
the fact that we were able to expeditiously find outstanding
candidates from within to fill those key posts attests to the
depth of talent in the corporation and to our
talent-development and succession-planning process. I would
point out that, after the new appointments, three of the four
business groups continue to be led by women. This is an
impressive demonstration that the glass ceiling does not exist
at Alcan.
Alcan is fortunate to have a heritage of
strong corporate governance. As I suggested in this year’s
annual review, strong governance is arguably more vital than
ever, as we extend the Company’s reach to encompass new
activities and new markets around the globe. Aside from
helping the organization avoid potential financial, political
and ethical pitfalls — which pose considerable risk in certain
parts of the world — strong corporate governance solidifies
Alcan’s reputation and reinforces Alcan’s status as a
preferred business partner.
On that note, I wish to
thank my fellow Board members for their wise counsel and
support over the course of the year, and to formally welcome
two new directors, Heather Munroe-Blum and Jeffrey
Garten. Dr. Munroe-Blum is well known in Montreal and
elsewhere in Canada and beyond. She is principal and
vice-chancellor of McGill University. Mr. Garten, who joined
our Board in February, heads a global consulting firm and
teaches at the Yale School of Management, where he previously
served as Dean following important positions in government and
on Wall Street. Heather and Jeffrey are exceptional persons
whose extensive experience and leadership skills will be
valuable assets around the boardroom
table.
Regrettably, two directors will be leaving the
Board. Guy Saint-Pierre, having reached retirement age, is
stepping down after 13 years of extremely valuable service. We
wish him well in his retirement. Gwyn Morgan is not standing
for reelection because of the pressing demands on his time due
to other commitments, in particular, his appointment to the
international Board of HSBC Bank, with which Gwyn has had a
long association.
Another of Alcan’s strong suits is
its long-standing commitment to sustainability.
As the
theme of this year’s annual review pointedly suggested, we are
inextricably linked to this planet and to the hundreds of
communities worldwide where Alcan has a presence. What we do
in one part of the world inevitably reverberates not only
throughout our own organization but also with outside
stakeholders.
During 2006, Alcan’s leadership in this
area earned it widespread recognition. For example, our
company was once again, for the fifth consecutive year,
included in the Dow Jones Sustainability World Index. In
December, Alcan was named the industry champion for metals on
Fortune Magazine’s list of the “World’s Most Admired
Companies”. Alcan was also ranked the top company in Canada.
At Alcan, two of our highest priorities are the health
and safety of our employees and the stewardship of our
environment. So it was particularly gratifying that our
Company ranked second out of the 1,000 global corporations
included in the Fortune survey for our efforts with regard to
communities and the environment.
While we are on the
subject of meritorious achievements, I would like to take this
opportunity to congratulate India’s Barefoot College, the 2006
winner of the $1-million Alcan Prize for Sustainability. Since
1972, this grassroots NGO has been working to improve the
lives of India’s poorest people, providing practical, hands-on
skills training that enables them to help their rural
communities deal with issues ranging from clean drinking water
and electricity shortages to female education, health and
sanitation, rural unemployment and ecological
systems.
The Alcan Prize for Sustainability was created
to recognize the critical role of the not-for-profit sector in
promoting and implementing sustainable development around the
world. Perhaps even more importantly, the Prize recognizes
that we all have a role to play in preserving our planet for
future generations … and that we play our roles more
effectively when we work together.
Thank you very
much for your attention.
I would now like to invite our
President and CEO to address the meeting…Dick.
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