Rayovac 2007 Annual Report Download - page 6

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“ After two years of relentless focus on cost control, we plan to be
a more outwardly-focused company in 2008, with a new emphasis
on profi table growth.”
In addition, we continue to explore
options for the sale of our remaining
Home & Garden business, which is
accounted for as a discontinued operation.
While the current state of the credit
markets is a signifi cant impediment near-
term, we are optimistic that plans to divest
a strategic asset can be completed success-
fully once credit markets improve.
Working Smarter for
Profi table Growth
In fi scal 2007, we accomplished our goal
to reorganize the Spectrum organization
into three product-focused, free-standing
business segments: Global Batteries &
Personal Care, Global Pet Supplies and
Home & Garden. In 2008, our goal is to
move forward by implementing smarter
business practices throughout the
Company. After two years of relentless
focus on cost control, we plan to be a more
outwardly-focused company in 2008, with
a new emphasis on profi table growth. We
are implementing an aggressive SKU
optimization and rationalization program
to realize further effi ciencies. As part of
this process, we expect to exit unprofi table
or marginally profi table contracts or
relationships that do not meet minimum
ROI and profi t contribution hurdles. We
will not rule out exiting part of a business,
even if it means forsaking revenue, in order
to enhance overall profi tability.
Finally, in the midst of all the
restructuring and reorganization of the
past two years, it is important for us to
remember that Spectrum possesses an
enviable portfolio of brands. These brands
enjoy high household name recognition,
compete in large and growing markets,
command competitive market positions
and are sold by the world’s most respected
retailers in more than 120 countries. It
is a great foundation upon which to build
a successful future that will reward our
shareholders. We appreciate your support
and look forward to sharing this future
with you as our hard work continues to
pay off.
Sincerely,
Kent J. Hussey
Chief Executive Offi cer
4 SPECTRUM BRANDS | 2007 ANNUAL REPORT