Business Wire

Elliott Statement on Pernod Ricard

Jaa

Elliott Advisors (UK) Limited (“Elliott”) released today the following statement on Pernod Ricard (“Pernod”, or the “Company”).

Pernod’s half-year earnings announcement confirmed the strong growth potential and solid financial performance of the Company. It also reflected a first small step in starting to address the Company’s shortcomings in operational efficiency. However, the financial objectives of the newly announced plan could be more ambitious—the target savings of €100 million and the margin step-up of 50-60bps per year over the period FY19-21 represent modest goals for a Company with an EBIT of c. €2.5 billion that operates at close to a 5 percentage points EBIT margin discount to its closest peer. The steps proposed also lack specificity and clarity. For example, the 50-60bps margin improvement target appears almost entirely driven by the €100 million of “additional savings”, rather than actual “operating leverage” as Pernod seems to suggest. In addition, necessary enhancements to the Company’s board and corporate governance have yet to be addressed.

Elliott trusts that Pernod’s management will continue to engage in a mutually constructive dialogue to deliver much needed additional improvements while capturing the strong growth of the Company’s underlying markets.

About Elliott

Elliott Management Corporation manages two multi-strategy funds which combined have approximately $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.

Contact information

Media Contacts

London
Sarah Rajani CFA
Elliott Advisors (UK) Limited
+44 (0) 20 3009 1475
srajani@elliottadvisors.co.uk

Paris
Daphné Claude / Dominic Riding
Steele & Holt
+33 (0) 6 66 58 81 92 / +33 (0) 6 48 57 83 24
daphne@steeleandholt.com / dominic@steeleandholt.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Payments Canada Selects SIA As the Application Provider for Canada’s New High-Value Payments System, Lynx20.2.2019 18:30:00Tiedote

Payments Canada announced today the selection of SIA as the application provider for the country’s new high-value payments system, Lynx. This payments Modernization milestone is the outcome of an extensive procurement process with participation from key industry partners, including Canadian financial institutions. In April 2017, Payments Canada announced a list of suppliers invited to participate in a competitive procurement process for Lynx. This process has ended, and Payments Canada has selected SIA as the Lynx application provider, subject to negotiation of the final agreement and final regulatory approval. SIA will work closely with Payments Canada and key industry stakeholders on the next version of their Real-Time Gross Settlement (RTGS) application solution to deliver on the needs identified during consultations for the future of payments in Canada, in compliance with strict Canadian and international risk standards. SIA is well known in the global landscape as a leader in paym

Arch Capital Group Ltd. Names Janice Englesbe Senior Vice President, Chief Risk Officer20.2.2019 18:10:00Tiedote

Arch Capital Group Ltd. (“Arch”) today announced that Janice Englesbe will join the Company as Senior Vice President, Chief Risk Officer (CRO) effective February 25, 2019. Ms. Englesbe will be based in Arch’s Bermuda office and report to François Morin, the Company’s Executive Vice President and Chief Financial Officer. As CRO, Ms. Englesbe will have overall responsibility for the Company’s risk management function. Additionally, she will help formulate and implement business strategies and provide comprehensive counsel to the executive leaders and board members. “Janice brings a wealth of experience and demonstrated ability to implement practical results,” Mr. Morin said. “I’m looking forward to the unique perspective and leadership she will bring to Arch.” Ms. Englesbe has over 25 years of risk and finance experience, including Group Deputy Chief Risk Officer of General Re, and has been named one of Intelligent Insurer’s 100 Influential Women in Re/insurance. She holds a bachelor’s d

Ingram Micro and MassChallenge Name Comet Competition Top B2B Startups20.2.2019 18:00:00Tiedote

Ingram Micro Inc., in partnership with MassChallenge, today announced the top 12 finalists from its Tel Aviv, Austin, and Boston Comet Competition s. The finalists for this year’s inaugural competition are Verifyoo, Perimeter 81, ITsMine, EyeControl, ClearBlade, re:3D, Sempulse, The Mentor Method, Pixm Inc., addapptation, OnRout, and BOXOLOGIC.COM. Established in 2018, the Comet Competition is the only startup challenge dedicated to discovering talented B2B independent software vendors (ISVs) and accelerating their trajectory to channel market success. As Comet Competition finalists, these startups will receive go-to-market funding, unparalleled access to top corporate partners, and tailored curriculum to accelerate their success – all for zero equity. “In order to continue to be a leader in the digital economy, we need to actively search for the world’s best technology startups and catapult their trajectory to profitability and scale,” says Nimesh Davé, executive vice president, Ingra

KCI Launches ABTHERA™ Therapy in Japan20.2.2019 17:30:00Tiedote

KCI, an Acelity Company, today announced the launch of ABTHERA™ Open Abdomen Negative Pressure Therapy in Japan, expanding access to the Company’s surgical portfolio in the country. ABTHERA™ Therapy is a temporary abdominal closure system that allows surgeons to take control in managing challenging abdominal wall openings where primary closure is not possible and/or repeat abdominal entries are necessary. “When dealing with patients managed with damage control for severe abdominal hemorrhage, abdominal compartment syndrome or severe peritonitis, using ABTHERA™ Therapy has been shown to be associated with proven patient outcomes,” said Dr. Demetrios Demetriades, Professor of Surgery, Keck USC School of Medicine and the Director of the USC Division of Trauma, Emergency Surgery and Surgical Intensive Care Unit. “With the introduction of ABTHERA™ Therapy in Japan, clinicians now have a clinically demonstrated solution for a previously unmet, significant need, that manages the open abdomen

ResMed and Fisher & Paykel Healthcare Announce Settlement of Global Patent Infringement Litigation20.2.2019 17:00:00Tiedote

ResMed (NYSE: RMD, ASX: RMD), and Fisher & Paykel Healthcare (NZX: FPH, ASX: FPH) today announced an agreement to settle all outstanding patent infringement disputes between the companies in all venues around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190220005556/en/ The settlement involves no payment or admission of liability by either side. Under the agreement, all ongoing infringement proceedings against named products will be dismissed, and each party will bear its own attorney fees and costs incurred in the global proceedings. All other terms remain confidential. As a result of the settlement, there will be no further infringement proceedings against ResMed products, including AirSense flow generators, AirFit P10, Swift LT and Swift FX masks, and ClimateLine heated tubes; or against Fisher & Paykel Healthcare products including Simplus, Eson and Eson 2. “I am pleased we were able to resolve these dispute

IDEMIA Changes Its Management Structure to Consolidate Its Augmented Identity Global Leadership and Appoints Pierre Barrial CEO of Its New Secure Enterprise Transactions Division20.2.2019 16:28:00Tiedote

IDEMIA today announced the appointment of Pierre Barrial as CEO of the newly created Secure Enterprise Transactions (SET) division. IDEMIA Group CEO Yann Delabrière today announced that all existing Group transactions business units, i.e. Financial Institutions, Mobile Operators and Connected Objects will be brought together under one division. In addition, the IDEMIA Group is also considering the creation of a new Digital business unit within the SET division. The new division will be led by Pierre Barrial, who previously managed IDEMIA’s Financial Institutions business unit. IDEMIA’s customers, i.e. banks, fintech firms, telecoms operators, smartphone manufacturers, IoT firms and automotive manufacturers, are rising to the challenge of managing online services and getting digital. Against such a backdrop, while IDEMIA will continue to develop its long-time expertise in cutting-edge technologies such as cryptography, artificial intelligence, biometrics or cloud communications, the new

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme