Pilko & Associates News and Events
Browse our latest, newest Grey Paper or “Did You Know”, bringing information and insights, and events where you can learn more on how to increase control of operational, EHS, and transaction risk.
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NEW GREY PAPER: SUCCESSFUL DIVESTITURE STRATEGIES FOR ENERGY & CHEMICAL COMPANIES
Sometimes it's hard to say goodbye, even when it is the right thing to do.
A divestiture is tough to do, from the first business case decision through to effectively controlling post-close risk. McKinsey documents that those companies that have a divestiture strategy alongside acquisition, return between 1.5 and 4.7 percent better shareholder returns than those that only are involved in acquisitions. Divestitures create value to energy and chemical companies.
In divestiture activities, we've noticed that most companies focus on the net proceeds as the primary value driver. Whereas there are two others that demand attention: a.) accretive shareholder value due to focus on core business operations, and b.) the reduction or elimination of post-close liabilities. Leading companies take all three into account when evaluating divestiture activities and value creation.
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Pilko & Associates “Did You Know”
JULY 2017: THE IMPORTANCE OF A RISK CONTROL CULTURE
Today the subject of “risk culture” and the role that a lack of risk culture played in the financial meltdown in 2007/8 is a heavily discussed topic. Having a culture that understands risk and makes the right decisions at all levels in the organization is critically important to Operational Risks such as fires, explosions, leaks and spills, and fatalities. Publications by Andrew Hopkins on the Texas City Refinery explosion and the Macondo well blowout, as well as Chemical Safety Board disaster reports, all agree that the ability of an organization to learn from their and others’ mistakes to improve risk control is one of the keys to prevention.
Organizations that don’t have a culture of learning from mistakes – or learning from information and expertise at the front line – increase enterprise risk. At the same time, rank-and-file employees often have greater insight into potential risks than senior leaders, who are far removed from most Operational Risks due to the nature of their positions.
What is your risk control culture? And how open, transparent and honest is your organization in the identification, analysis and mitigation of risk? The future of your people, your shareholder value and your business is at stake.
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Global advisors to chemical and energy companies on Operational and EHS risk control for acquisitions, mergers, joint ventures and divestitures.
Our global footprint includes advisors in 32 countries across six continents. We continue to grow our global presence to be where you need us to be.
We have hosted 59 invitation-only Transactions Roundtables in Asia, Europe and North America since 2001.
PILKO & ASSOCIATES
Bringing operations, EHS, and transactions risk control to corporate officers and boards in the energy and chemicals industry.