From introducing your new CFO virtually to completing a merger almost a year later than expected (and in the midst of a global pandemic) or working out the best way to stream robot surgery on a cadaver, US IR professionals have been facing the old, new and unusual challenges thrown up by 2020.
In a virtual awards event held in September, the top IR teams were revealed from across the US, with winners named either in the researched categories – decided by a survey of hundreds of investors and analysts – or by a judging panel in the nominated-awards categories.
Many of the winners recorded video interviews talking in detail about the challenges they’ve faced over the past year. The digital edition of the magazine features video interviews with many of the winners, giving you an in-depth insight into best-in-class IR from across the US. We’ve featured the first two below.
General Electric
Best overall investor relations (large cap)
– Best investor relations officer (large cap) – Steve Winoker
– Best in sector: industrials
The arrival of Larry Culp as CEO of General Electric in October 2018 kicked off what Steve Winoker, vice president of investor communications, describes as ‘the start of a multi-year transformation’. That transformation hasn’t stopped because of Covid-19, despite the huge pressure. Winoker cites the company’s aviation business, which he says makes up the core of the company’s cash flow globally, as well as its healthcare arm (as elective procedures were pushed back) as two examples of pressure on the firm.
But the company focused on transparency and accessibility, introducing new CFO Carolina Dybeck Happe virtually, being a sounding board for management and helping the Street see the bigger picture and where the company would stand ‘on the other side of Covid-19’.
Kansas City Southern
– Best overall investor relations (mid-cap)
Cross-border railroad company Kansas City Southern has ‘always been an extremely transparent company,’ says Ashley Thorne, vice president of investor relations, ‘but during these turbulent times, we’ve really stepped up our disclosure.’
Talking about how the ‘economic tealeaves were just too challenging to read’, resulting in the company – like many others – pulling guidance, Thorne explains that despite this, the company felt confident enough to provide alternative free cash-flow models under various revenue scenarios ‘to give investors some confidence we could continue providing cash even during a significant downturn.’ The company’s communications approach has ‘played out very well,’ she says.
This is an extract of a feature from the Winter 2020 issue of IR Magazine. Click here to read the full article
