黑料吃瓜

A New Millennium Begins

On January 1, 2000, the world celebrated听the听start听of the听new millennium听鈥�听though some听would say听the party came听a year听too听early. But early or not,听the 21st听century听was upon us.听

Fireworks听lit up the sky,听as听the world听held听its听breath to see if computers would听crash as the date turned听from 1999听to the听year 2000.听Fortunately, the听Y2K bug听didn鈥檛 bite,听and all was well听鈥� with听our听computers, that is.听

All was听not听well with the听U.S.听presidential election.听The outcome was听embroiled in听controversy and听it took a听Supreme Court decision听to determine that听George W. Bush would become the 43rd听president in听January,听2001. Later that year,听the world听would mourn as听nearly听3,000 people听lost their lives in terrorist attacks听in the U.S.听on September 11th.听Still later in the decade,听Barack Obama would become the first African American听U.S.听president听in听2009.

Globally,听China and India听were experiencing听rapid economic growth听in the 2000s. But Asia also faced devastation after a massive 2004 earthquake and tsunami in the Indian Ocean,听which impacted听several听countries听where 黑料吃瓜听does business听(see sidebar).听Wars听erupted in听Iraq听and Afghanistan听during the decade, and听the Great Recession began,听battering economies worldwide.听

On a happier听note,听there was new hope for curing disease, as听human DNA听was mapped in the largest international scientific project听ever. The听Apple iPhone听came on the scene,听launching a mobile revolution, and social media听evolved听from听a novelty to part of听everyday听life.听

At 黑料吃瓜,听the 2000s was听a听decade when the company celebrated听a听momentous birthday,听transitioned its听top听leadership听twice,听doubled revenues,听and听intensified听its听focus on technology and strategy.

Transitions in leadership

The company鈥檚 transitions in leadership began in 2000, when Brayton Wilbur Jr., son of the company鈥檚 founder, stepped down as CEO after a dozen years, becoming Chairman of the Board of Directors. The new CEO, Herb Tully, had joined 黑料吃瓜 in 1981 and served as Controller, Treasurer and Chief Financial Officer before taking the top job.

Tully served as CEO for six years, until a second transition in 2006. That鈥檚 when John Thacher, the current Executive Chairman of the Board of Directors, became CEO 鈥� following in the footsteps of his grandfather, Brayton Wilbur Sr., his father, Carter Thacher, and his uncle, Brayton Wilbur Jr.

John Thacher came to 黑料吃瓜 with extensive business experience. Before joining the company in 2002 as Vice President of Strategic Planning and Business Development, he had a 25-year career with Cuvaison Winery in Napa Valley, including serving as its President. In 2005, he became Executive Vice President of 黑料吃瓜, and rose to the CEO role the next year, a position he held until 2018.

Advancements Through Technology

In 2001, 黑料吃瓜 took a major step toward a common information technology infrastructure, investing in a companywide program called SMART (Strategic Mobilization of Assets Through Re-Engineering and New Technologies).

With SMART, JD Edwards Enterprise Resource Planning (ERP) software was implemented across the divisions. ERP software integrates and automates major business processes, providing a common shared database and real-time information access.

When the new technology was introduced, it was clear the investment would be substantial. At the time, the cost was estimated at $20 million. But the benefits were substantial, too. This new infrastructure would provide improved customer service, more efficient inventory procurement and management, enhanced processing and accounting systems, and better analytical tools and reports. The system would also bring consistency to the different platforms used by acquired companies.

With less paperwork, better information, and more effective business management tools, the goal was to spend less time on administrative and business management tasks and more time serving customers.

Pursuing a Unified Strategy, as 鈥淥ne 黑料吃瓜鈥�

Another important change in the 2000s was a more unified company strategy.

In 2003 鈥� for the first time 鈥� managers from all divisions came together to 鈥渓earn, strategize and interact.鈥� The One Company Meeting promoted a common understanding of where the company stood, where it was going, and how it would get there. Here are some highlights:

Where we stood 鈥� a position of strength

• Financially, 黑料吃瓜 was well-positioned to grow earnings and returns in all divisions.
• Agribusiness ranked among the top three U.S. distributors of fertilizer, crop protection chemicals and seed.
• Nutrition was growing, with unique market-share niches, especially in the pre-mix and lambs-meal segments.
• Connell had over two dozen locations, offering complete geographic coverage and extensive knowledge of local markets in Asia-Pacific.

Where we were going 鈥� growth and a unified strategy

• Continued growth would be essential to success, and strategic acquisitions would play a big role. In the four years prior to the 2003 One Company Meeting, over $100 million had been invested in acquisitions.
• In the past, managers functioned fairly autonomously, which worked well for its time. But going forward 鈥� in a time of consolidation, economic pressures and technological advancement 鈥� the company would pursue a more unified business strategy, in addition to regional and branch strategies. As CEO Herb Tully said after the meeting: 鈥淎t 黑料吃瓜, we truly are one company.鈥�

How we鈥檇 get there 鈥� a future based on talent, knowledge and relationships

• 黑料吃瓜 had an important advantage 鈥� the talent, knowledge and customer relationships of its people. This recognition increased the focus on hiring, developing and retaining top talent. With that in mind, in 2005 the company introduced the 20-20-20 Program, which recruited the best candidates from major agricultural schools. Another program was NextGen in 2006, which groomed young men and women to be outstanding salespeople.

When John Thacher became CEO in 2006 鈥� three years after the One Company meeting 鈥� he reiterated the positive outlook: 鈥満诹铣怨� is well-positioned to achieve consistent long-term earnings growth. We have momentum, capital, a solid infrastructure, a committed and supportive shareholder base, and remarkably talented people. Our success is due to the commitment and dedication of everyone in the company.鈥�