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Business International Gallia, 10 4 03
1. Francesco Picconi www.merloni.com [email_address] The Rewarding Challenge Milan, April 10th, 2003
2. Merloni Elettrodomestici at a glance Headquarters Fabriano - Ancona (Italy) Production facilities 16 plants in 7 countries Annual sales 13 m appliances Major Brands 2 global: Ariston, Indesit 3 regional: Scholtès, Stinol, Hotpoint Commercial presence Subsidiaries in 21 countries European market share 15% Turnover 2002 2.5 bl € (2003 > 3.0 bl€)
3. Merloni Elettrodomestici: a success story 20 Times in 20 Years Focus on household appliances, moving from Italy to “Big Europe” Today we have a well balanced product mix equally split among cooking, cooling and washing Today we have a well balanced geographical presence and market shares From the 300 th to the 3 rd position in Europe by market share Turnover, Mln. € Merloni Elettrodomestici was created in 1975 from the Household Appliances Division of Industrie Merloni, a company founded in 1930 by Aristide Merloni. It Is the youngest and most successful multinational in the sector 1975 2001 250 500 750 1,000 1,250 1,500 1,750 2,000
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5. Our vision To be the European leader in producing innovative solutions, to create day after day, the quality of time
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7. Merloni inside Entrepreneurial Simple & online Even if listed is a family owned company driven operationally by the entrepreneur until 1996 Entrepreneurship is in the DNA Flexible, quick and fast in decision taking. Adapting quickly to continuously changing scenarios Young The youngest company in the sector. Young in spirit. Growth is an obvious objective
8. Organization and HR are critical for performance and growth Annual Performance Appraisal Annual Salary Reviews Jan Feb Mar Apr May Jun Jul Sep Oct Nov Dec First Half Year Performance Review Objective setting HR Performance Review HR Commitee organization overview HR Commitee people overview HR Organization Review Aug B u d g e t 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr
12. The Merloni Grading System ONE COMPANY SYSTEM FOR PROMOTIONS / COMP & BENS PLANNING / DEVELOPMENT TOP EXECUTIVES MANAGERS PROFESSIONALS JUNIOR PROFESSIONALS (IF GRADUATE) OR CLERICALS (IF NOT GRADUATE) DIRIGENTI QS Q PROXY TO THE ITALIAN CONTRACT SHORT GRADUATES ENTRY LEVEL GRADUATES ENTRY LEVEL LONG TERM INCENTIVE PROGRAM STOCK OPTIONS TARGET MERIT CAR MEDICARE MBO 3 PROFESSIONAL BANDS - EXECUTIVES - MANAGERS - PROFESSIONALS SPECIAL BONUSES TOP
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14. MBO / TARGET / SPECIAL BONUSES THE CHALLENGE: REWARD PERFORMANCE LINKED TO COMPANY / GROUP / INDIVIDUAL GOALS & SPECIAL GROUP EFFORT AD HOC SPECIAL BONUSES AD HOC COMMERCIAL INCENTIVE PLANS COMMERCIAL 10% TARGET SSC SHARED SERVICE CENTER 15% TARGET PURCHASING PURCHASING 15% TARGET PROFESSIONALS 20% MBO MANAGERS 30% MBO EXECUTIVES BASE SALARY (TARGET %) INITIATIVE GRADE