Strategy

In 2012 we set out an evolution of our strategy and the five key priorities to reshape our business. Our strategic objectives and the actions that we are taking to move the business forward involve four key elements – people, customers, products, and markets.

We have made progress against our five priorities during 2012. The FCA investigation is now closed and we are well advanced in embedding a new culture based on greater customer focus, strengthened discipline and enhanced governance. We have advanced our product marketing to develop and launch new consumer products, and our investment in emerging markets to take advantage of growth opportunities continued during the year. Although we made appropriate changes in composition and resource to reflect our required structure, our effort to retain and recruit the talent we need to deliver our future success remains.