This year the largest gathering of investor relations professionals, the National Investor Relations Institute (Niri) annual conference, will take place at the Marriott Desert Springs Resort in Palm Desert, California, June 3-6. Those who have been to one of the institute’s annual conferences before know this event will be well attended and packed with information. Those people attending for the first time should prepare themselves for a whirlwind of activity.
Niri promises this conference will deliver the best in IR education for both IR newcomers and seasoned veterans. The conference title, The New IR – Communicating Corporate Value in a Changing World, echoes what the institute sees as a shift in the investor relations officer’s role.
‘That change involves more of a strategic communications function, as opposed to a corporate marketing activity,’ says IDX Systems’ director of investor relations and corporate communications, Margo Happer, who, along with Goodrich Corporation’s VP of IR, Paul Gifford, will co-chair the conference.
Happer says while last year’s conference devoted several panel sessions to the integration of IR and other communications functions, this year some panels will go further to investigate ways that IR can become the cornerstone of corporate communications.
‘I think what crystalized for us this year was the opportunity that we as IROs have within our organizations to set an overall communications strategy,’ Happer comments.
Don Eagon, Niri’s new chairman and Diebold’s vice president, global communications and IR, echoes this belief: ‘If you look at the times, going from 9/11 through Enron up to the present, I think there’s a tremendous amount of opportunity for IROs. They can really exert their knowledge and exert strategic thinking into the corporate decision-making.’ Eagon says this level of opportunity is unprecedented for IROs: ‘Right now the IR profession can take a giant leap upward into becoming more of a strategic position within the company.’ And Niri finds itself in the perfect position to prepare its members for the jump.
Niri’s survey entitled Responsibilities and Compensation of IR Practitioners and Counselors, released last year, supports the belief that IROs’ responsibilities are steadily increasing, and opportunities are growing as well.
Happer says this year the conference’s first day has a broader agenda, aimed at making it especially helpful for first-time attendees. ‘We have a full afternoon scheduled for Sunday that really focuses on IR essentials. We started that last year and we’re expanding it to give people coming to the conference an opportunity to get to know each other.’ Happer herself will participate in Sunday’s IR 101 panel.
Monday kicks off with an overview of the financial markets and leadership.
This year there will be 30-plus concurrent breakout sessions which will be organized according to a series of broad categories or tracks. This year’s tracks include business, finance and the investor; technology and IR practices; career growth; and integrated communications.
Taking the lead from last year’s conference, organizers decided also to devote a track to IR at small-cap companies.
‘When we look at our total membership, everybody’s important,’ Eagon declares.
‘But many of the things that are taking place right now involving analysts and SEC issues are impacting our small-cap members more than they are the others. Usually the small-cap IRO wears many hats. The budgets are smaller, the staffs are smaller – if they have any staff – and so the issues are compounded for them.’
There will also be ample material for ADR-listed companies. Two special concurrent sessions will focus on the 170-plus non-US IROs expected to attend. ‘We’re planning one for Sunday called US IR for non-US companies. Also, there will be a session on targeting for non-US companies that will talk about how to reach US analysts and fund managers,’ Happer explains.
As in the past, Nasdaq and the NYSE will conduct their popular mock trading sessions again this year. There will be dozens of vendor booths showcasing the latest IR products and services. And, of course, there is sure to be much social activity. The Niri annual conferences always offer a healthy balance between work and play, and this year should be no different.
‘When you consider all the things that are taking place right now,’ observes Eagon, ‘this is going to be a fascinating year.’
See you there…
