Sara Lee 2011 Annual Report Download - page 9

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Sara Lee Corporation 7
the highest quality standards and provides
a significant cost advantage. In addition,
we completed our rollout of SAP in North
America and expect to see efficiencies from
that implementation flowing through in the
upcoming fiscal year.
Fiscal 2012 will be a year of transition
Our activities in fiscal 2012 will be focused
on providing solid foundations for the future
success of the two new companies. We are all
highly energized and prepared for a busy year.
We continue to streamline our operational
structures, improve process efficiencies and
identify additional cost savings opportunities.
We also have a strong pipeline of innovation
and we look forward to launching our many
new products in the marketplace. Some of
these products will debut toward the second
half of the fiscal year, but a greater impact
will be seen in fiscal 2013 and beyond.
Management teams for both companies will
be in place shortly and will present more
detailed plans later in the fiscal year.
In closing, we would like to extend
our thanks and appreciation to our global
employee base for their continued hard
work and dedication. We’ve undergone
quite a bit of change over the last few years
and we value their commitment. We’d also
like to thank our Board of Directors for their
counsel and guidance. And, as always, we’d
like to thank our shareholders for their
confidence and support.
The entire company is excited about the
future opportunities that the spin-off provides.
We have been successful in unlocking value
and we are confident that the new companies
will have great prospects for creating incre-
mental shareholder value in the future. Jan Bennink Marcel H.M. Smits
Executive chairman Chief executive officer
September 1, 2011