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Lancaster Colony Reports Fourth Quarter and Fiscal Year Results

WESTERVILLE, Ohio, Aug. 27, 2020 /PRNewswire/ — Lancaster Colony Corporation (Nasdaq: LANC) today reported results for the fourth quarter and fiscal year ended June 30, 2020. Highlights are as follows: Fourth Quarter Results Consolidated net sales declined 0.9% to $320.9 million versus…

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WESTERVILLE, Ohio, Aug. 27, 2020 /PRNewswire/ — Lancaster Colony Corporation (Nasdaq: LANC) today reported results for the fourth quarter and fiscal year ended June 30, 2020.  Highlights are as follows:

Fourth Quarter Results

  • Consolidated net sales declined 0.9% to $320.9 million versus $323.7 million last year.  Excluding all sales attributed to a temporary supply agreement resulting from the November 16, 2018 acquisition of Omni Baking Company, consolidated net sales increased 0.7%.
  • Retail net sales surged 24.5% to a record $192.4 million as the impacts of the COVID-19 outbreak drove higher demand for at-home food consumption.  The increase in Retail net sales was led by frozen garlic bread, Olive Garden® dressings sold under a license agreement and frozen dinner rolls.  The segment’s results also benefited from recent introductions of new products sold under license agreements, including an expanded offering of single-bottle Buffalo Wild Wings® sauces and a regional pilot test for Chick-fil-A® sauces.
  • Foodservice net sales declined 24.1% to $128.4 million as foodservice channel demand was unfavorably influenced by the impacts of COVID-19.  After a very slow start in April, consumer demand at quick-service restaurants made a strong recovery in May and June, and sales for other restaurants also improved notably throughout the quarter.
  • Consolidated gross profit improved $10.9 million, or 13.9%, to $89.1 million driven by the favorable sales mix shift to Retail, our cost savings programs and improved net price realization in Retail.  The gross profit results were unfavorably impacted by costs related to COVID-19, including increased hourly wage rates for our front-line employees along with the effect of lower Foodservice volumes and reduced operating efficiencies as our factories and distribution centers adopted guidelines and implemented protocols provided by government health authorities to promote safe operations.
  • SG&A expenses rose $8.9 million, principally driven by a $3.8 million increase in expenditures for Project Ascent in support of our ERP project and related initiatives in addition to costs attributed to the impacts of COVID-19, including a write-off of engineering expenses for a dressing plant expansion project.  Shifts in demand between our Retail and Foodservice segments led us to cancel the expansion project, and we are now evaluating alternative investments that best align with the future needs and growth opportunities for our dressing and sauce products.
  • The prior year’s change in contingent consideration included the favorable impact of a non-cash reduction to the contingent consideration for Angelic Bakehouse, Inc. (“AB Adjustment”) in the amount of $7.4 million.
  • Consolidated operating income declined $3.1 million to $40.2 million as influenced by the favorable AB adjustment in the prior-year quarter, costs related to the COVID-19 outbreak and increased expenses for Project Ascent, partially offset by the improved top-line performance of the Retail segment and benefits from our cost savings programs.
  • Retail segment operating income increased $6.5 million, or 20.1%, to $38.8 million driven by the significantly higher sales volumes.  The Retail segment operating income in the prior-year quarter included the favorable impact of the $7.4 million AB Adjustment.
  • Foodservice segment operating income declined $8.3 million, or 45.3%, to $10.1 million primarily due to the notable decline in Foodservice sales, the write-off of engineering expenses resulting from the cancelation of the dressing plant expansion project, lower factory overhead absorption and higher operating costs resulting from the impacts of COVID-19.
  • Net income declined $2.6 million to $30.4 million.  Expenditures for Project Ascent reduced net income by $4.2 million this year compared to $1.4 million last year.  The favorable AB Adjustment increased net income in the prior-year quarter by $5.7 million.
  • Net income per diluted share decreased $0.10 to $1.10.  Expenditures for Project Ascent reduced net income per diluted share by $0.15 this year versus $0.05 last year.  In the prior-year quarter, the favorable AB Adjustment increased net income per diluted share by $0.21.
  • The regular quarterly cash dividend paid on June 30, 2020 was maintained at the higher amount of $0.70 per share set in November 2019.

Fiscal Year Results

  • Consolidated net sales increased 2.0% to a fiscal year record $1,334 million versus $1,308 million last year.
  • Retail net sales increased 8.8% to $714.1 million as higher retail channel demand attributed to the impacts of COVID-19 and contributions from shelf-stable dressings and sauces sold under license agreements, including new product introductions, drove Retail sales gains.  Higher sales volumes for frozen garlic bread and frozen dinner rolls, along with some beneficial net price realization, also added to the growth in Retail net sales.
  • Foodservice net sales decreased 4.7% to $620.3 million.  After growth of 7.2% in the first half of the fiscal year, Foodservice net sales declined 16.1% in the second half as consumer demand shifted away from the foodservice channel due primarily to the impacts of COVID-19.  Excluding all sales resulting from the November 16, 2018 acquisition of Omni Baking Company, Foodservice net sales declined 5.3%.  Omni Baking sales attributed to a temporary supply agreement totaled $22.3 million in the current fiscal year versus $19.4 million last year.
  • Consolidated gross profit increased $31.8 million, or 9.8%, to $358.0 million driven by the higher sales volumes in Retail, our cost savings programs, including continued contributions from our strategic procurement and transportation management initiatives, improved net price realization and lower commodity costs.  Offsets to gross profit growth included higher manufacturing costs and other expenses resulting from the impacts of COVID-19.
  • SG&A expenses rose $31.1 million to $180.9 million as expenditures for Project Ascent increased $16.3 million to $18.0 million.  Investments in technology and IT infrastructure, the write-off for the canceled dressing plant expansion project and other expenses attributed to the impacts of COVID-19, and a higher level of consumer promotional spending also contributed to the rise in SG&A expenses.
  • The prior year’s change in contingent consideration included a favorable AB Adjustment of $17.1 million.
  • Consolidated operating income declined $15.0 million to $175.9 million driven by the impact of the prior year’s favorable AB adjustment, increased expenditures for Project Ascent, higher costs attributed to the impacts of COVID-19 and increased investments in technology and IT infrastructure partially offset by the more favorable sales mix, our cost savings programs, improved net price realization and lower commodity costs.
  • Net income declined $13.6 million to $137.0 million.  Expenditures for Project Ascent reduced net income by $13.7 million this year compared to $1.4 million last year.  Last year’s favorable AB Adjustment increased net income by $13.1 million.
  • Net income per diluted share was $4.97 compared to $5.46 last year.  Expenditures for Project Ascent reduced net income per diluted share by $0.50 in the current fiscal year versus $0.05 last year.  Last year’s favorable AB Adjustment increased net income per diluted share by $0.48.
  • The regular quarterly cash dividend was increased for the 57th consecutive year.
  • The company’s balance sheet remained strong, with no debt outstanding and over $198 million in cash and equivalents as of June 30, 2020.

Fiscal 2020 Commentary

CEO David A. Ciesinski stated, “I would first of all like to thank the entire Lancaster Colony team for the tremendous effort they have put forth and the resilience they have shown through this most challenging and unprecedented time as we confront the impacts of the COVID-19 pandemic.  From the front-line workers at our plants and distribution centers to the leaders throughout our business, I am extremely proud of the way we have collectively pulled together to meet the shifting demands of our Retail and Foodservice customers while staying true to our top priority, the health, safety and welfare of our team members.”

“We were very pleased to finish the fiscal year with record sales in the Retail segment, positive momentum in the Foodservice segment and record gross profit.  Despite all the challenges imposed by the impacts of COVID-19, our supply chain team navigated through the shifts in demand with safe operations and continued to deliver cost savings as we completed the fiscal year.”

Fiscal 2021 Outlook

Mr. Ciesinski continued, “Looking ahead to fiscal 2021, Retail sales will continue to benefit from the growth in shelf-stable dressings and sauces sold under license agreements, including sales gains for Chick-fil-A® sauces beyond the successful pilot test, expanded distribution of Buffalo Wild Wings® sauces in single bottles and added growth in the dollar and value channels for Olive Garden® dressings.  We also anticipate sales for both our Retail and Foodservice segments will continue to be impacted by the shifts in consumer demand resulting from the COVID-19 pandemic, the extent to which is unpredictable and contingent upon the future spread or control of COVID-19 and the resulting effects on consumer behavior.”

“Based on our current assessment, following a year in which overall commodity costs were notably favorable, we anticipate a rise in commodity costs for fiscal 2021.  The cost savings programs currently underway or planned for implementation by our supply chain team, in addition to favorable net price realization, will help to offset increased commodity costs in the coming year.  We will also continue to make the necessary investments to help protect the health and safety of all our team members and follow the guidelines of government health authorities in response to the COVID-19 pandemic.”

Conference Call on the Web

The company’s fourth quarter and fiscal year-end conference call is scheduled for this morning, August 27, at 10:00 a.m. ET.  You may access a live webcast of the call through a link on the company’s Internet home page at www.lancastercolony.com.  A replay of the webcast will also be made available on the company website.

About the Company

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels.

Forward-Looking Statements

We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). This news release contains various “forward-looking statements” within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words “anticipate,” “estimate,” “project,” “believe,” “intend,” “plan,” “expect,” “hope” or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control and could be amplified by the COVID-19 pandemic, which could cause our actual results to differ materially from those expressed in the forward-looking statements. Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include:

  • significant shifts in consumer demand and disruptions to our employees, communities, customers, supply chains, operations, and production processes resulting from COVID-19 and other epidemics, pandemics or similar widespread public health concerns and disease outbreaks;
  • efficiencies in plant operations;
  • dependence on contract manufacturers, distributors and freight transporters, including their financial strength in continuing to support our business;
  • fluctuations in the cost and availability of ingredients and packaging;
  • the potential for loss of larger programs or key customer relationships;
  • capacity constraints that may affect our ability to meet demand or may increase our costs;
  • changes in demand for our products, which may result from loss of brand reputation or customer goodwill;
  • difficulties in designing and implementing our new enterprise resource planning system;
  • cyber-security incidents, information technology disruptions, and data breaches;
  • ability to successfully grow recently acquired businesses;
  • the extent to which recent and future business acquisitions are completed and acceptably integrated;
  • price and product competition;
  • the lack of market acceptance of new products;
  • the success and cost of new product development efforts;
  • the impact of customer store brands on our branded retail volumes;
  • the reaction of customers or consumers to price increases we may implement;
  • adverse changes in freight, energy or other costs of producing, distributing or transporting our products;
  • stability of labor relations;
  • dependence on key personnel and changes in key personnel;
  • the effect of consolidation of customers within key market channels;
  • the impact of fluctuations in our pension plan asset values on funding levels, contributions required and benefit costs;
  • the possible occurrence of product recalls or other defective or mislabeled product costs;
  • maintenance of competitive position with respect to other manufacturers;
  • changes in estimates in critical accounting judgments;
  • the impact of any regulatory matters affecting our food business, including any required labeling changes and their impact on consumer demand;
  • the outcome of any litigation or arbitration;
  • adequate supply of skilled labor; and
  • risks related to other factors described under “Risk Factors” in other reports and statements filed by us with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available at www.sec.gov).

Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on statements that are based on current expectations.

LANCASTER COLONY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In thousands except per-share amounts)



Three Months Ended 
June 30,


Fiscal Year Ended 
June 30,


2020


2019


2020


2019

Net sales

$

320,854



$

323,670



$

1,334,388



$

1,307,787


Cost of sales

231,777



245,460



976,352



981,589


Gross profit

89,077



78,210



358,036



326,198


Selling, general & administrative expenses

48,836



39,909



180,945



149,811


Change in contingent consideration

65



(6,663)



257



(16,180)


Restructuring and impairment charges



1,643



886



1,643


Operating income

40,176



43,321



175,948



190,924


Other, net

98



936



3,129



4,618


Income before income taxes

40,274



44,257



179,077



195,542


Taxes based on income

9,889



11,247



42,094



44,993


Net income

$

30,385



$

33,010



$

136,983



$

150,549










Net income per common share: (a)








Basic

$

1.10



$

1.20



$

4.98



$

5.48


Diluted

$

1.10



$

1.20



$

4.97



$

5.46










Cash dividends per common share

$

0.70



$

0.65



$

2.75



$

2.55










Weighted average common shares outstanding:








Basic

27,449



27,444



27,448



27,438


Diluted

27,478



27,520



27,496



27,537




(a) 

Based on the weighted average number of shares outstanding during each period.

LANCASTER COLONY CORPORATION
BUSINESS SEGMENT INFORMATION (Unaudited)
(In thousands)



Three Months Ended 
June 30,


Fiscal Year Ended 
June 30,


2020


2019


2020


2019

NET SALES








Retail

$

192,426



$

154,533



$

714,127



$

656,621


Foodservice

128,428



169,137



620,261



651,166


Total Net Sales

$

320,854



$

323,670



$

1,334,388



$

1,307,787










OPERATING INCOME








Retail

$

38,761



$

32,278



$

142,822



$

135,093


Foodservice

10,090



18,438



66,480



73,828


Restructuring and Impairment Charges



(1,643)



(886)



(1,643)


Corporate Expenses

(8,675)



(5,752)



(32,468)



(16,354)


Total Operating Income

$

40,176



$

43,321



$

175,948



$

190,924


LANCASTER COLONY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In thousands)



June 30,
2020


June 30,
2019

ASSETS




Current assets:




Cash and equivalents

$

198,273



$

196,288


Receivables

86,604



75,691


Inventories

85,048



86,072


Other current assets

15,687



10,518


Total current assets

385,612



368,569


Net property, plant and equipment

293,288



247,044


Other assets

314,453



289,786


Total assets

$

993,353



$

905,399


LIABILITIES AND SHAREHOLDERS’ EQUITY




Current liabilities:




Accounts payable

$

71,433



$

76,670


Accrued liabilities

54,826



43,036


Total current liabilities

126,259



119,706


Noncurrent liabilities and deferred income taxes

83,794



58,820


Shareholders’ equity

783,300



726,873


Total liabilities and shareholders’ equity

$

993,353



$

905,399


SOURCE Lancaster Colony Corporation

Related Links

http://www.lancastercolony.com

Source: https://www.prnewswire.com:443/news-releases/lancaster-colony-reports-fourth-quarter-and-fiscal-year-results-301119618.html

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ASB: LESA 2020 rassemble en un panel unique des capitaines de l’industrie, des dirigeants gouvernementaux et des intellectuels de renom

Une conférence virtuelle à laquelle se joignent plus de 8 000 participants permet la réunion exceptionnelle de leaders de l’industrie, du gouvernement et du monde académique autour de débats sur notre adaptation à un monde post-pandémique. KUALA LUMPUR, Malaisie, 28 novembre 2020…

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Une conférence virtuelle à laquelle se joignent plus de 8 000 participants permet la réunion exceptionnelle de leaders de l’industrie, du gouvernement et du monde académique autour de débats sur notre adaptation à un monde post-pandémique.

KUALA LUMPUR, Malaisie, 28 novembre 2020 /PRNewswire/ — Du 16 au 19 novembre, plus de 8 000 dirigeants d’Asie et d’ailleurs se sont réunis virtuellement dans le cadre du Leadership Energy Summit Asia (LESA) 2020, organisé par le centre Iclif Executive Education Center de l’Asia School of Business (ASB).

Le sommet virtuel, intitulé « Navigating Uncertainty with Leadership Energy In Action », a rassemblé un panel de conférenciers prolifiques et de premier plan, dont la lauréate du prix Nobel de 2019, Esther Duflo, Tan Sri Dr. Jemilah Mahmood, fondatrice de MERCY Malaysia et conseillère spéciale du Premier ministre de Malaisie, Aireen Omar, présidente du groupe RedBeat Ventures, devenu AirAsia, et de grands intellectuels du Massachusetts Institute of Technology (MIT) et de l’ASB qui ont partagé leurs recherches et leurs idées révolutionnaires.

D’Esther Duflo, qui a fait part de ses propositions pour réduire la pauvreté dans le monde (ses travaux lui ont valu le prix Nobel), à Tan Sri Dr. Mahmood, qui, de son expérience en matière de crises humanitaires tire certains enseignements pour apporter son concours au gouvernement de Malaisie confronté à la pandémie actuelle, à John Sterman, professeur en management à la MIT Sloan School of Management, qui a plaidé en faveur d’une approche à plusieurs volets pour s’attaquer à la fois à la COVID-19 et aux changements climatiques, chaque conférencier a enrichi les discussions avec des points de vue uniques et diversifiés sur la façon de relever les défis d’aujourd’hui.

« La plupart des gens essaient de trouver une solution qui résoudra tous les problèmes en même temps. Il est pourtant difficile d’avancer sur tous les fronts en utilisant un seul outil. Nous avançons en décomposant les problèmes en milliers de problèmes beaucoup plus faciles à gérer », a déclaré Mme Duflo au cours de son discours liminaire.

John Sterman a déclaré : « En tant qu’êtres humains, nous ne sommes pas doués pour traiter des systèmes complexes avec des délais avant que les effets ne se fassent sentir. Il est donc difficile de favoriser les changements de comportement pour des choses comme la lutte contre les changements climatiques et la COVID-19. La solution réside dans le savoir. Il faut garder espoir. »

Professeur d’économie appliquée, Roberto Rigobon, a mentionné l’un des critères clés permettant de faire face à la crise d’aujourd’hui, étayant ses affirmation sur les recherches qu’il a menées sur les pays passés de la pauvreté à la richesse : « Relever les défis est difficile. Les dirigeants doivent avoir une vision tellement convaincante que les travailleurs et les citoyens y souscrivent et sont prêts à faire des sacrifices personnels pour le bien public. »

Malgré le format virtuel de l’événement, les participants ont été impressionnés par l’expérience du sommet. Ci-après, quelques commentaires de participants :

« À mon sens, il s’agit d’un sommet couronné de succès, à tous les égards : niveau record de participation, portée internationale, qualité du contenu, diversité et intervenants toujours impressionnants. Un événement de classe mondiale. » – Datuk Nora A. Manaf, directrice des ressources humaines du groupe EXCO à Maybank.

« Je n’aurais jamais cru qu’apprendre des professeurs pouvait être aussi excitant. L’intervention du professeur Roberto Rigobon, teintée d’humour, s’appuyait sur des exemples concrets. La professeure Loredana Padurean était passionnante du début à la fin. Je suis impressionné par la diversité et la richesse du panel de professeurs au MIT et à l’ASB, et j’ai vraiment apprécié la conférence! » – Datin Mornifairos Bt Othman, vice-présidente exécutive, responsable du personnel chez Maybank.

« Nous avons véritablement apprécié l’ampleur des thèmes abordés à LESA 2020, et avons écouté avec le plus vif intérêt les observations et les approches présentées par chaque conférencier. Le sommet a également été l’occasion de riches échanges entre les participants et les conférenciers. Félicitations. – Ahmad Zakky Habibie, directeur général, Ancora Foundation.

Parmi les autres temps forts du sommet, citons une série de masterclasses parrainées par Sarawak Energy sur des sujets tels que : « The Strategic Intra/Entrepreneurial Organization », « The Dollar, the Renminbi, and the International Monetary System » et « Storytelling for Leaders ».

Pendant ce temps, les Iclif Leadership Energy Awards (ILEA), parrainés par Maybank, ont rendu hommage aux personnes qui utilisent leur énergie de leader (leur « Leadership Energy in Action ») pour avoir un impact positif. Les lauréats étaient : Dian Sasmita, fondatrice de Sahabat Kapas (Indonésie), pour avoir milité contre la violence envers les prisonniers mineurs, Marita Cheng, fondatrice de Robogals (Australie), pour avoir soutenu et encouragé les femmes à faire carrière dans les STIM, et le Dr Tamana Asey, directrice de programme de l’Afghanistan Forensic Science Organization, pour avoir défendu les droits des femmes et des filles en s’opposant aux tests de virginité.

Nous sommes fiers que le LESA 2020 ait servi de plateforme pour relever les défis majeurs auxquels les leaders d’aujourd’hui sont confrontés », a déclaré le professeur Charles Fine, président fondateur et doyen de l’ASB. « Et nous sommes extrêmement reconnaissants envers nos commanditaires qui ont fait de cet événement une réalité – leur soutien a été essentiel pour aider l’ASB à atteindre un public mondial. Nous tenons à remercier tout particulièrement Maybank, Sarawak Energy, CX Technology, la fondation Lawrence S. Ting Foundation et la fondation Ancora Foundation, qui nous ont montré, grâce à leur partenariat, à quoi ressemble l’énergie de leadership en action. »

À propos de l’Asia School of Business

L’Asia School of Business (ASB) a été créée en 2015 par la Bank Negara Malaysia en collaboration avec la MIT Sloan School of Management. L’objectif était d’en faire une école de commerce mondiale de premier plan et un centre de connaissances et d’apprentissage doté d’une expertise régionale, de points de vue et de perspectives sur l’Asie et les économies émergentes.

Les programmes de formation des cadres et les formations diplômantes du centre de formation Iclif Executive Education Center de l’ASB sont plébiscités dans le monde entier. Prestigieux, ils montrent la voie dans le domaine de la formation en management. Grâce à son programme primé Action Learning, en partenariat avec la communauté des entreprises et des étudiants du monde entier, ASB s’est engagée à faire émerger des leaders « transformationnels », aux principes bien ancrés, et qui contribueront à faire progresser le monde émergent.

Logo – https://mma.prnewswire.com/media/1342614/ASB_Landscape_Logo.jpg

SOURCE Asia School of Business

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ASB:LESA 2020 reúne a líderes de la industria, gubernamentales y potencias intelectuales

– ASB: LESA 2020 reúne a una mezcla única de capitanes de la industria, líderes gubernamentales y potencias intelectuales Conferencia virtual a la que asistieron más de 8.000 participantes reúne a una rara lista de líderes de la industria, el gobierno y la academia que discuten sobre cómo…

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– ASB: LESA 2020 reúne a una mezcla única de capitanes de la industria, líderes gubernamentales y potencias intelectuales

Conferencia virtual a la que asistieron más de 8.000 participantes reúne a una rara lista de líderes de la industria, el gobierno y la academia que discuten sobre cómo navegar por un mundo post-pandemia

KUALA LUMPUR, Malasia, 28 de noviembre de 2020 /PRNewswire/ — Del 16 al 19 de noviembre, más de 8.000 líderes de Asia y más allá se reunieron virtualmente para la Leadership Energy Summit Asia (LESA) 2020, organizada por el Asia School of Business (ASB) Iclif Executive Education Center.

La cumbre virtual, con el tema ” Navigating Uncertainty with Leadership Energy In Action “, reunió a una línea prolífica de clase A de ponentes, incluyendo a la premio Nobel de 2019 Esther Duflo, Tan Sri Dr. Jemilah Mahmood, Fundador de MERCY Malaysia y Asesor Especial del Primer Ministro de Malasia, Aireen Omar, Presidente del Grupo de RedBeat Ventures y AirAsia, y potencias académicas del Massachusetts Institute of Technology (MIT) y ASB que compartieron su investigación y perspicacia.

Desde Duflo, que compartió su enfoque ganador del Premio Nobel de aliviar la pobreza global, hasta Tan Sri Dr. Mahmood, quien extrajo aprendizajes de su experiencia en crisis humanitarias para asesorar al gobierno de Malasia sobre la pandemia actual, a John Sterman, profesor de administración de MIT Sloan School of Management, quien abogó por un enfoque de solución múltiple para abordar tanto la COVID-19 como el cambio climático, cada orador trajo perspectivas únicas y diversas para hacer frente a los desafíos actuales.

“La mayoría de la gente trata de encontrar una solución que resuelva todos los problemas a la vez. Pero es difícil progresar con un solo martillo para todos los problemas. Usted progresa dividiendo los problemas en miles de problemas mucho más manejables,” dijo Duflo durante su discurso.

Sterman dijo, “Como seres humanos, no somos buenos en tratar con sistemas complejos con retrasos de tiempo antes de que se sientan los efectos. Esto hace que sea difícil impulsar cambios de comportamiento para cosas como la acción climática y la COVID-19. El conocimiento es la solución. Hay esperanza.

El profesor de Economía Aplicada Roberto Rigobon destacó uno de los criterios clave para abordar la crisis actual, basándose en su investigación de países que se han transformado de la pobreza a la riqueza: “Abordar los desafíos es difícil. Los líderes necesitan tener una visión tan convincente que los trabajadores y los ciudadanos la compren y estén dispuestos a hacer sacrificios personales por el bien público.”

A pesar del formato de evento virtual, los participantes quedaron impresionados por la experiencia de la cumbre. Los comentarios de los participantes incluyeron los siguientes:

“Mi observación es que esta ha demostrado ser una cumbre muy exitosa desde todos los ángulos: nivel récord de participación, alcance de país, calidad de contenido, diversidad y constantemente impresionantes interlocutores. Verdaderamente de clase mundial.” – Datuk Nora A. Manaf, Group Chief Human Capital Officer, Maybank.

“Nunca supe que aprender de los profesores podría ser tan emocionante – El profesor Roberto Rigobon era humorístico y práctico, la profesora Loredana Padurean fue tan interesante de principio a fin. Estoy impresionado por lo coloridos y diversos que son los profesores en MIT y ASB, y disfruté mucho de la conferencia” – Datin Mornifairos Bt Othman, vicepresidente ejecutivo, People Leader at Maybank.

“Realmente disfrutamos sintonizando la amplitud de los temas presentados en LESA 2020, escuchando los conocimientos y enfoques presentados por cada orador. La cumbre también ha permitido con éxito una rica conversación entre los participantes y presentadores. Kudos.” – Ahmad Zakky Habibie, director ejecutivo, Ancora Foundation.

Otros aspectos destacados de la cumbre incluyeron una serie de Masterclasses, patrocinadas por Sarawak Energy en temas como: “The Strategic Intra/Entrepreneurial Organization”, “The Dollar, the Renminbi, and the International Monetary System”, y “Storytelling for Leaders”.

Mientras tanto, los Iclif Leadership Energy Awards (ILEA), patrocinados por Maybank, rindieron tributo a las personas que utilizan su “Energía de Liderazgo en Acción” para tener un impacto positivo. Los ganadores de los premios fueron: Dian Sasmita, fundadora de Sahabat Kapas (Indonesia), por abogar contra la violencia hacia los presos juveniles, Marita Cheng, fundadora de Robogals (Australia), por apoyar e inspirar a las mujeres a seguir carreras en STEM, y la Dra. Tamana Asey, directora del programa de Afghanistan Forensic Science Organization, por defender los derechos de las mujeres y las niñas al estar en contra de las pruebas de virginidad.

“Estamos orgullosos de que LESA 2020 haya servido como plataforma para abordar los desafíos críticos a los que se enfrentan los líderes actuales”, dijo el Profesor Charles Fine, presidente fundador y Decano de ASB. “Y estamos increíblemente agradecidos a nuestros patrocinadores que han hecho realidad este evento – su apoyo fue fundamental para ayudar a ASB a llegar a una audiencia global de este tipo. Queremos dar un agradecimiento especial a Maybank, Sarawak Energy, CX Technology, Lawrence S. Ting Foundation y Ancora Foundation, por mostrarnos a través de su asociación cómo es la energía de liderazgo en acción.”

Acerca de Asia School of Business

Asia School of Business (ASB) fue establecida en 2015 por Bank Negara Malaysia en colaboración con el MIT Sloan School of Management para ser una escuela de negocios global de primer nivel, un centro de conocimiento y aprendizaje infundido con experiencia regional, conocimientos y perspectivas de Asia y las economías emergentes.

Los programas de grado y programas educativos ejecutivos del Iclif Executive Education Center de ASB han sido aclamados a nivel mundial por liderar el camino en la educación de gestión. A través de su galardonado plan de estudios basado en Action Learning, en asociación con la comunidad corporativa y estudiantes de todo el mundo, ASB está comprometida a desarrollar líderes transformadores y de principios que contribuirán a avanzar en el mundo emergente.

Logo – https://mma.prnewswire.com/media/1342614/ASB_Landscape_Logo.jpg

SOURCE Asia School of Business

Source: https://www.prnewswire.com:443/news-releases/asb-lesa-2020-reune-a-lideres-de-la-industria-gubernamentales-y-potencias-intelectuales-861032697.html

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ASB: LESA 2020 bringt eine einzigartige Mischung aus Industriekapitänen, Regierungschefs und intellektuellen Kraftpaketen zusammen

Virtuelle Konferenz mit über 8.000 Teilnehmern bringt eine seltene Gruppe von Führungskräften aus Industrie, Regierung und Wissenschaft zusammen, die darüber diskutieren, wie man sich in einer Welt nach einer Pandemie zurechtfindet KUALA LUMPUR, Malaysia, 28. November 2020 /PRNewswire/ –…

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Virtuelle Konferenz mit über 8.000 Teilnehmern bringt eine seltene Gruppe von Führungskräften aus Industrie, Regierung und Wissenschaft zusammen, die darüber diskutieren, wie man sich in einer Welt nach einer Pandemie zurechtfindet

KUALA LUMPUR, Malaysia, 28. November 2020 /PRNewswire/ — Vom 16. bis 19. November trafen sich über 8.000 Führungskräfte aus Asien und darüber hinaus virtuell zum Gipfeltreffen Leadership Energy Summit Asia (LESA) 2020, das vom Iclif Executive Education Center der Asia School of Business (ASB) organisiert wurde.

Das virtuelle Gipfeltreffen unter dem Motto „Navigating Uncertainty with Leadership Energy In Action” brachte eine produktive und hochkarätig besetzte Rednergruppe zusammen, darunter die Nobelpreisträgerin von 2019, Esther Duflo, Tan Sri Dr. Jemilah Mahmood, Gründerin von MERCY Malaysia und Sonderberaterin des Premierministers von Malaysia, Aireen Omar, Gruppenvorsitzende von RedBeat Ventures und AirAsia, sowie akademische Machthaber vom Massachusetts Institute of Technology (MIT) und dem ASB, die ihre bahnbrechenden Forschungen und Erkenntnisse teilten.

Von Duflo, die ihren nobelpreisgekrönten Ansatz zur Linderung der weltweiten Armut teilte, über Tan Sri Dr. Mahmood, die aus ihren Erfahrungen in humanitären Krisen Lehren zog, um die Regierung Malaysias in Bezug auf die aktuelle Pandemie zu beraten, bis hin zu John Sterman, Professor für Management an der MIT Sloan School of Management, der sich für einen multidisziplinären Ansatz zur Bekämpfung sowohl von COVID-19 als auch des Klimawandels aussprach, brachte jeder Redner einzigartige und vielfältige Perspektiven zur Bewältigung der heutigen Herausforderungen ein.

„Die meisten Menschen versuchen, eine Lösung zu finden, die alle Probleme auf einmal löst. Es ist jedoch schwierig, mit einem einzigen Hammer für alle Probleme Fortschritte zu erzielen. Man macht Fortschritte, indem man Probleme in Tausende von viel besser handhabbaren Problemen zerlegt“, sagte Duflo während ihrer Grundsatzrede.

Sterman sagte: „Als Menschen sind wir nicht gut darin, mit komplexen Systemen mit Zeitverzögerungen umzugehen, bevor Auswirkungen zu spüren sind. Das macht es schwierig, Verhaltensänderungen für Dinge wie Klimaschutz und COVID-19 voranzutreiben. Wissen ist die Lösung. Es besteht Hoffnung.

Der Professor für Angewandte Wirtschaftswissenschaften Roberto Rigobon hob eines der Schlüsselkriterien zur Bewältigung der heutigen Krise hervor und stützte sich dabei auf seine Forschungsarbeiten über Länder, die sich von Armut zu Reichtum gewandelt haben: „Herausforderungen zu meistern ist schwer. Führungspersönlichkeiten müssen eine Vision haben, die so überzeugend ist, dass die Arbeitnehmer und Bürger ihr Glauben schenken und bereit sind, persönliche Opfer für das öffentliche Wohl zu bringen.”

Trotz des virtuellen Veranstaltungsformats waren die Teilnehmer von der Erfahrung des Gipfeltreffens beeindruckt. Das Feedback der Teilnehmer beinhaltete Folgendes:

„Meine Beobachtung ist, dass dieses Gipfeltreffen in jeder Hinsicht sehr erfolgreich war – Rekordbeteiligung, Länderreichweite, inhaltliche Qualität, Vielfalt und durchweg beeindruckende Rollenspieler. Wahrlich Weltklasse.” – Datuk Nora A. Manaf, Group Chief Human Capital Officer, Maybank.

„Ich hätte nie gedacht, dass das Lernen von Professoren so aufregend sein kann – Prof. Roberto Rigobon war humorvoll und praktisch, Prof. Loredana Padurean war von Anfang bis Ende so interessant. Ich bin beeindruckt davon, wie bunt und vielfältig die Professoren am MIT und ASB sind, und habe die Konferenz sehr genossen!” – Datin Mornifairos Bt Othman, Executive Vice President, People Leader bei der Maybank.

„Es hat uns sehr viel Spaß gemacht, uns auf die Breite der bei LESA 2020 vorgestellten Themen einzustimmen und den Einsichten und Ansätzen der einzelnen Redner zuzuhören. Das Gipfeltreffen hat auch erfolgreich eine reichhaltige Konversation unter den Teilnehmern und Referenten ermöglicht. Kudos.” – Ahmad Zakky Habibie, Executive Director, Ancora Foundation.

Weitere Höhepunkte des Gipfeltreffens waren eine Reihe von Meisterklassen, die von Sarawak Energy gesponsert wurden, unter anderem zu folgenden Themen: „Die strategische innerbetriebliche/unternehmerische Organisation”, „Der Dollar, der Renminbi und das internationale Währungssystem” und „Geschichtenerzählen für Führungspersönlichkeiten”.

Unterdessen wurden mit den von Maybank gesponserten Iclif Leadership Energy Awards (ILEA) Personen gewürdigt, die mit ihrer „Leadership Energy in Action” einen positiven Einfluss ausüben. Ausgezeichnet wurden: Dian Sasmita, Gründerin von Sahabat Kapas (Indonesien), für ihr Eintreten gegen Gewalt gegenüber jugendlichen Gefangenen, Marita Cheng, Gründerin von Robogals (Australien), für die Unterstützung und Inspiration von Frauen für eine Karriere in STEM und Dr. Tamana Asey, Programmdirektorin der Afghanistan Forensic Science Organization, für ihr Eintreten für die Rechte von Frauen und Mädchen, indem sie sich gegen Jungfräulichkeitstests einsetzte.

„Wir sind stolz darauf, dass LESA 2020 als Plattform gedient hat, um die kritischen Herausforderungen anzugehen, denen sich die heutigen Führungskräfte gegenübersehen”, sagte Prof. Charles Fine, Gründungspräsident und Dekan des ASB. „Und wir sind unseren Sponsoren, die dieses Ereignis Wirklichkeit werden ließen, unglaublich dankbar – ihre Unterstützung war entscheidend dafür, dass der ASB ein solch globales Publikum erreichen konnte. Unser besonderer Dank gilt der Maybank, Sarawak Energy, CX Technology, Lawrence S. Ting Foundation und der Ancora Foundation, die uns durch ihre Partnerschaft gezeigt haben, wie Führungsenergie in Aktion aussieht.”

Informationen zur Asia School of Business

Die Asia School of Business (ASB) wurde 2015 von der Bank Negara Malaysia in Zusammenarbeit mit der MIT Sloan School of Management gegründet, um eine führende globale Wirtschaftshochschule zu sein, ein Wissens- und Lernzentrum, das regionale Expertise, Einsichten und Perspektiven Asiens und der aufstrebenden Volkswirtschaften vermittelt.

Die Ausbildungsprogramme und Studiengänge des Iclif Executive Education Center des ASB sind weltweit dafür bekannt, dass sie in der Managementausbildung eine Vorreiterrolle spielen. Durch seinen ausgezeichneten, auf Action Learning basierenden Lehrplan, in Partnerschaft mit Unternehmen und Studenten aus der ganzen Welt, engagiert sich der ASB für die Entwicklung von transformativen und prinzipientreuen Führungskräften, die zur Förderung der aufstrebenden Welt beitragen.

Logo – https://mma.prnewswire.com/media/1342614/ASB_Landscape_Logo.jpg

SOURCE Asia School of Business

Source: https://www.prnewswire.com:443/news-releases/asb-lesa-2020-bringt-eine-einzigartige-mischung-aus-industriekapitanen-regierungschefs-und-intellektuellen-kraftpaketen-zusammen-885027525.html

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