GE will publish its 2011 Annual Report on Friday. As usual, the report includes Letter to Shareowners from GE Chairman and Chief Executive Jeff Immelt. “I always write the Chairman’s letter myself,” he says. “What I really mean is that I write it and rewrite it. I probably review 30 drafts before the report is final.”
In this year’s letter Immelt wrote about GE Works and how the company links culture with ideas, business strength, customers and execution.
He told shareholders that GE was a “’We Company,’ not a ‘Me Company,’” and that it had a mission. This mission, he said, was “a relentless drive to invent things that matter: innovations that build, power, move and help cure the world. We make things that very few in the world can, but that everyone needs.”
As a result, GE has “a stronger portfolio, large-scale competitive advantage, product and technology leadership, and strength in the growth markets.” Because of that, he said, GE saw “the future as interesting, exciting and filled with opportunity,” and that the company would “win in every corner of the world. … We are optimistic and ready for the future. We are proud of our company,” he wrote.
“GE Works,” Immelt concluded. “For investors, this means solid earnings growth and a solid dividend foundation. For employees, it means a belief in a better way, a relentless drive to invent and build things that matter. For customers, it means more profitable solutions. And for society, GE will help create a world that works better.”
Read the whole letter here.