In my comments to open last week’s Growth + Strategy Conference, I reflected on the progress of our MAP to Growth operating improvement plan, which we initiated in fiscal 2019. Through the plan, we set out to transform RPM into a more connected and efficient company focused on operational excellence and continuous improvement, while maintaining the strength of our entrepreneurial culture. The purpose was to position RPM for sustained, profitable growth—ultimately creating superior value for all of its key stakeholders.
Despite large-scale organizational change and the extraordinary challenges that we’ve faced as a result of the pandemic, I’m proud to report our successful execution of this plan. RPM has evolved to become center-led in manufacturing and procurement, positioning it to drive greater collaboration and operational efficiencies across our businesses for many years to come.
Now, as we sustain the efficiency gains achieved through MAP to Growth, we are shifting more focus and resources toward top-line growth, which has been one of RPM's hallmarks since its founding in 1947. Thus, the theme of our 2021 Growth + Strategy Conference was “MAP to Growth 2.0: Building the Future Today.” This event brought together corporate leadership from across our enterprise virtually to share their best and biggest ideas for driving sustained growth. As always, I was energized by the incredible work you and your fellow associates are doing to develop and launch game-changing new products, services and initiatives. Our goal is to return to the exceptional growth rate that RPM has delivered throughout much of its history.
There are three key elements we must continue to prioritize in order to drive long-term growth:
- Grow With the Market: Through RPM’s historic, entrepreneurial culture, we have been able to meet or exceed the market growth rate compared to our industry peers.
- Pursue Bolt-On Acquisitions: Over the past two decades, RPM has created shareholder value by attracting successful entrepreneurial companies and product lines, while applying a disciplined approach to investing in their continued growth.
- Leverage Connections to Create Value: By cultivating a culture of collaboration, RPM and its operating companies can share best practices and leverage resources in order to drive revenue growth, new market penetration and greater operational efficiencies.
Over the coming months, I look forward to seeing our “big ideas” for growth come to fruition as the backbone of RPM’s fiscal 2022 Goals, Targets and Objectives (GTOs) and long-term growth strategy as we begin to build the future, today.
Very truly yours,
Frank C. Sullivan
Chairman & Chief Executive Officer
RPM chairman and CEO Frank Sullivan recently received his first Covid-19 vaccine shot at the Cleveland Clinic. He encourages all RPM employees to also get vaccinated so we can end the pandemic, return to normalcy and reinvigorate the global economy.
