Energizer 2015 Annual Report Download - page 3

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I want to thank our colleagues for their commitment,
perseverance and tremendous effort in scal year 2015 as we
completed the spinoff, while maintaining top-ight customer
service and continuing to operate with excellence. That
dedication, resilience and passion for winning are why I’m so
personally excited by the opportunity that lies ahead for the
“new” Energizer. We have talented colleagues around the globe,
an experienced management team and Board of Directors, both
with a wealth of experience, and world-renowned brands –
Energizer and Eveready – that allow us to serve billions of
customers in more than a hundred markets around the world.
And our track record of innovation is unmatched in our
category … with more to come.
STRONG LEGACY TO BUILD UPON
Now with the spinoff behind us, we are squarely focused on our
core business, our customers and our consumers … all with the
goal of continuing the legacy of increasing long-term shareholder
value as the “new” Energizer.
In conjunction with nalizing the spin, our team also completed
the 2013 restructuring project which resulted in more than
$218 million in savings since the inception of the program.
We accumulated these savings through proactively adjusting our
manufacturing footprint; streamlining our
global supply chain; creating a center-led
purchasing function; streamlining our
product portfolio and centralizing our
marketing efforts.
In addition, we rolled out our innovative
Energizer EcoAdvanced™ performance
alkaline batteries across North America
and select European and Asian markets.
This product is our longest lasting alkaline
battery and the world’s rst battery made from 4 percent
recycled batteries. In scal 2016, we will continue to support
EcoAdvanced and continue to introduce new, innovative product
improvements across our broad portfolio, delivering solutions to
our customers and consumers around the globe.
Energizer Holdings has a long history of driving shareholder value
through effective and efcient capital deployment and has a
proven track record of delivering innovative solutions to our
customers and consumers. The “new” Energizer aims to build
upon both of these legacies to deliver long-term value to our
shareholders, customers and consumers.
A NEW MISSION AND OBJECTIVE FOR ENERGIZER
Our Mission: As colleagues, we are leading the charge as the
new Energizer, connecting our brands, our people and the
products we offer the world better than anyone else.
Our Objective: With a passion for winning, we’re building a bright
future that is focused on our objective of maximizing free cash
ow and delivering long-term value to our shareholders,
customers and consumers.
We are clear on our objectives, and have aligned our colleagues
with them as well. In addition to providing new, innovative
products and category solutions to our retail customers and
consumers, we are focused on maximizing free cash ow and
delivering long-term value to our shareholders. As such, we will
pursue a prudent capital allocation policy, including reinvesting in
the business, returning capital to shareholders, and evaluating
mergers and acquisitions in the household products space.
We will do this by:
• Reinvesting in our business and our brands through
innovation and investment in advertising and brand equity
building initiatives, as well as reinvestment in systems and
processes to increase efciency within our operations.
• Providing a direct return to shareholders with a meaningful
dividend. In July, we announced our rst dividend and a
7.5 million share repurchase authorization.
• Employing a selective and disciplined approach to mergers
and acquisitions in order to diversify our portfolio within the
household products space.
TO OUR SHAREHOLDERS
ENERGIZER HOLDINGS, INC. 2015 ANNUAL REPORT / PG. 1
In our report to you a year ago, we opened by
noting how transformational scal year 2014
had been. This year, of course, has been even
more so: A fundamental transformation occurred
on July 1, 2015, with our successful separation
from the personal care business and the creation
of the “new” Energizer Holdings, Inc.
$218
MILLION
saved since the
restructuring project
began in 2013