DOCSLIB.ORG

ANNUAL REPORT Pargesa E 2016 Holding SA Pargesa Holding SA 11, Grand-Rue Pargesa Holding SA CH – 1204 Genève T +41 (0) 22 817 77 77 [email protected]

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ANNUAL REPORT Pargesa E 2016 Holding SA Pargesa Holding SA 11, Grand-Rue Pargesa Holding SA CH – 1204 Genève T +41 (0) 22 817 77 77 Info@Pargesa.Ch 2016 PARGESA HOLDING SA PARGESA Pargesa Holding SA ANNUAL REPORT Pargesa E 2016 Holding SA Pargesa Holding SA 11, Grand-Rue www.pargesa.ch Pargesa Holding SA CH – 1204 Genève T +41 (0) 22 817 77 77 [email protected] Pargesa Holding SA Annual Report 2016 Pargesa Holding SA Annual Reportreport 20152016 2 Pargesa Holding SA Annual Report 2016 Contents Contents Structure and key data 4 Board of Directors, Committees, Auditor and Management 6 Letter from the Chairman 8 01 Business report 11 Introduction 12 Highlights 12 2016 consolidated results 15 Adjusted net asset value 19 Proposals at the Annual General Meeting of 4 May 2017 22 02 Group portfolio 25 GBL 26 Imerys 28 LafargeHolcim 30 SGS 32 adidas 34 Pernod Ricard 36 Umicore 38 Total 40 Other GBL assets 42 03 Corporate Governance report 49 04 Compensation report 61 05 Consolidated financial statements 67 06 Parent company financial statements 145 3 Pargesa Holding SA Annual Report 2016 Structure and key data Structure and key data Organisation chart at 31 December 2016 (1) Pargesa Holding SA 50.0% (2) Sienna Capital Other (5) 53.9% 9.4% 16.2% 7.5% 7.5% 17.0% 0.7% Incubator Strategic investments (3) investments (4) EUR 14’615 (6) EUR 730 (6) EUR 955 (7) (1) Shareholdings are expressed as a percentage of the capital held. (2) 51.9% of voting rights, taking into account the suspended voting rights relating to treasury shares. (3) Investments generally larger than EUR 1 billion, primarily in listed companies in which the Group can exercise clear influence. These represent the bulk of the portfolio. (4) Comprising a selection of listed or unlisted shareholdings that range in size from CHF 250 million to EUR 1 billion and have the potential to become strategic over time. (5) Comprising significant investments in private equity, debt or specific thematic funds. (6) Market value in EUR millions of the investments held by GBL at 31 December 2016. (7) Estimated value in EUR millions at 31 December 2016. Group portfolio key data at 31 December 2016 % of % flow- 2016 31.12.2016 Direct Total voting through net profit shareholders equity Company interest % interest % rights interest (1) Currency (CHF millions) (2) (CHF millions) (2) GBL 50.0 50.0 51.9 (3) 50.0 EUR (499) 15’966 Imerys 53.9 69.7 27.0 EUR 319 3’074 LafargeHolcim 9.4 9.4 4.7 CHF 1’791 30’822 SGS 16.2 16.2 8.1 CHF 543 1’773 adidas 7.5 7.5 3.8 EUR 1’109 6’950 Pernod Ricard (4) 7.5 6.8 3.8 EUR 1’346 14’323 Umicore 17.0 17.0 8.5 EUR 143 1’964 Total 0.7 1.3 0.4 EUR 6’104 100’535 Ontex (5) 19.98 19.98 10.0 EUR 131 1’073 Burberry (5) (6) 2.95 2.95 1.5 GBP 414 1’963 Exchange rate EUR / CHF 1.090 1.074 Exchange rate GBP / CHF 1.335 1.254 (1) Flow-through interest assessed at the level of Pargesa. (2) Attributable to Group shareholders. (3) Taking into account the suspended voting rights relating to treasury shares. (4) Financial year ending on 30 June ; net profit is that of the 2015/2016 financial year ; shareholders’ equity is the figure at 30 June 2016. (5) Portfolio of incubator-type investments. (6) Financial year ending on 31 March ; the net income is that of the 2015/2016 financial year ; shareholders’ equity is the figure at 31 March 2016. 4 Pargesa Holding SA Annual Report 2016 Structure and key data Global and per-share data CHF millions 2012 (1) 2013 2014 2015 2016 Consolidated shareholders’ equity, Group share 7’230 7’545 7’725 7’011 7’863 Operating income 346.0 250.5 339.5 308.4 320.9 Non-operating income 59.2 143.4 297.4 329.8 (352.9) Consolidated net profit, Group share 405.2 393.9 636.9 638.2 (32.0) Gross dividend 217.5 223.5 192.2 201.5 206.6 (2) Shares entitled to dividend 84’640’770 84’643’980 84’659’190 84’659’190 84’659’190 Market capitalisation at year-end 5’303 6’086 6’523 5’376 5’613 Adjusted net asset value at year-end 7’648 8’820 8’876 7’970 8’884 CHF per share 2012 (1) 2013 2014 2015 2016 Share price year-end 62.65 71.90 77.0 5 63.50 66.30 high 68.20 72.25 82.90 76.95 68.25 low 51.20 61.10 70.60 55.95 54.50 average 61.66 67.07 76.55 65.11 63.90 Consolidated shareholders’ equity, Group share 85.42 89.14 91.25 82.81 92.88 Adjusted net asset value at year-end 90.36 104.20 104.85 94.14 104.93 Operating income (3) 4.09 2.96 4.01 3.64 3.79 Non-operating income (3) 0.70 1.69 3.51 3.90 (4.17) Consolidated net profit, Group share (3) 4.79 4.65 7.52 7.54 (0.38) Total dividend 2.57 2.64 2.27 2.38 2.44 (2) (Average) total return 4.2% 3.9% 3.0% 3.7% 3.8% (1) Certain amounts have been adjusted to take account of the amendments to IAS 19 concerning the reporting of employee benefits and the correction of an error concerning the tax bases of Imerys tangible assets. (2) Recommendation at the Annual General Meeting on 4 May 2017. (3) Calculated on the weighted average number of shares outstanding during the year. Market Data 140 140 130 130 120 120 110 110 100 100 90 90 80 80 70 70 60 60 50 50 40 40 2012 2013 2014 2015 2016 Market price CHF Flow-through adjusted net asset value CHF SPI relative to market price (CHF) 5 Pargesa Holding SA Annual Report 2016 Board of Directors Board of Directors Chairman Paul DESMARAIS Jr Chairman of the Board and Co-Chief Executive Officer, Power Corporation of Canada Vice-Chairmen Gérald FRÈRE Executive Director, Frère-Bourgeois SA André DESMARAIS Deputy Chairman, President and Co-Chief Executive Officer, Power Corporation of Canada Directors Bernard DANIEL Member of the International Committee of the Red Cross (ICRC) Victor DELLOYE Director and Secretary General, Frère-Bourgeois SA and its subsidiary Compagnie Nationale à Portefeuille SA (CNP) Paul DESMARAIS III Senior Vice President, Power Corporation of Canada Cedric FRÈRE Director, Frère-Bourgeois SA Ségolène GALLIENNE Director, Frère-Bourgeois SA Jean-Luc HERBEZ Attorney-at-Law Barbara KUX Company Director Jocelyn LEFEBVRE* Member of the Management Board, Power Financial Europe BV Michel PÉBEREAU Honorary Chairman of the Board of Directors, BNP Paribas Michel PLESSIS-BÉLAIR** Vice-Chairman, Power Corporation of Canada Gilles SAMYN Chairman of the Board, Compagnie Nationale à Portefeuille SA (CNP) Amaury de SÈZE Vice-Chairman, Power Financial Corporation Arnaud VIAL Senior Vice-President, Power Corporation of Canada * Appointment to be proposed at the Annual General Meeting on 4 May 2017. ** Not seeking another term of office. 6 Committees, Auditor, Pargesa Holding SA Annual Report 2016 Management Committees, Auditor, Management Audit Committee Chairman Jean-Luc HERBEZ Members Bernard DANIEL* Barbara KUX Jocelyn LEFEBVRE* Michel PLESSIS-BÉLAIR** Gilles SAMYN Amaury de SÈZE** Compensation Committee Chairman Bernard DANIEL Members Jean-Luc HERBEZ* Barbara KUX Michel PLESSIS-BÉLAIR** Gilles SAMYN Amaury de SÈZE Auditor Deloitte SA Management Paul DESMARAIS Jr Executive Director Gérald FRÈRE Executive Director Pierre HAAS Advisor to the Chairman Arnaud VIAL Managing Director Mark KELLER Financial Director Fabienne RUDAZ BOVARD Treasurer * As of the Annual General Meeting on 4 May 2017, subject to his election as Director. ** Up to the Annual General Meeting on 4 May 2017. 7 Pargesa Holding SA Annual Report 2016 Letter from the Chairman Letter from the Chairman Dear Shareholders, In an environment marked by macroeconomic and political uncertainties, which sparked periods of significant volatility on the financial markets, the Pargesa Group pressed ahead with the portfolio rotation strategy first adopted five years ago. We once again reduced our exposure to the energy sector, which now accounts for only 5% of our portfolio. Overall, we have made disposals amounting to nearly EUR 6.7 billion from within our portfolio of strategic holdings since 2012, including EUR 2.5 billion in 2016 and early 2017. Most of the proceeds from these sales have been reinvested in new strategic shareholdings such as SGS, adidas and Umicore. The rest has been used to expand our Incubator investments, grow Sienna Capital and reduce the Group’s net debt. This portfolio restructuring, which is perfectly in keeping with the Group’s investment philosophy, has enabled us to achieve greater diversification and improve our sector allocation, while at the same time keeping our portfolio focussed on a limited number of shareholdings. At 31 December 2016, none of our seven strategic shareholdings, which had a combined value of EUR 14.6 billion, accounted for more than 19% of the portfolio, whereas at end-2011 the two largest shareholdings alone accounted for 50%. Our portfolio is built around three asset categories – strategic shareholdings, incubator-type investments and Sienna Capital – and we feel that it now strikes the right balance between growth and returns. It should create value for our shareholders over the long term and prove resilient to external headwinds. Our main holdings performed well in 2016, and LafargeHolcim saw the first positive effects of the merger. In addition, less than two years after Imerys acquired S&B, we supported our subsidiary in another large-scale project : the contemplated acquisition of Kerneos.
Load more

Recommended publications
  • From Wikipedia, the Free Encyclopedia Audi Type Private Company
    Audi From Wikipedia, the free encyclopedia Audi Private company Type (FWB Xetra: NSU) Industry Automotive industry Zwickau, Germany (16 July Founded 1909)[1] Founder(s) August Horch Headquarters Ingolstadt, Germany Production locations: Germany: Ingolstadt & Neckarsulm Number of Hungary: Győr locations Belgium: Brussels China: Changchun India: Aurangabad Brazil: Curitiba Area served Worldwide Rupert Stadler Key people Chairman of the Board of Management, Wolfgang Egger Head of Design Products Automobiles, Engines Production 1,143,902 units (2010) output (only Audi brand) €35.441 billion (2010) Revenue (US$52.57 billion USD) (including subsidiaries) €1.850 billion (2009) Profit (US$2.74 billion USD) €16.832 billion (2009) Total assets (US$25 billion USD) €3.451 billion (2009) Total equity (US$5.12 billion USD) Employees 46,372 (2009)[2] Parent Volkswagen Group Audi do Brasil e Cia (Curitiba, Brazil) Audi Hungaria Motor Kft. (Györ, Hungary) Audi Senna Ltda. (Brazil) Automobili Lamborghini Subsidiaries Holding S.p.A (Sant'Agata Bolognese, Italy) Autogerma S.p.A. (Verona, Italy) quattro GmbH (Neckarsulm, Germany) Website audi.com Audi AG (Xetra: NSU) is a German automobile manufacturer, from supermini to crossover SUVs in various body styles and price ranges that are marketed under the Audi brand (German pronunciation: [ˈaʊdi]), positioned as the premium brand within the Volkswagen Group.[3] The company is headquartered in Ingolstadt, Germany, and has been a wholly owned (99.55%)[4] subsidiary of Volkswagen AG since 1966, following a phased purchase of its predecessor, Auto Union, from its former owner, Daimler-Benz. Volkswagen relaunched the Audi brand with the 1965 introduction of the Audi F103 series.
    [Show full text]
  • Change and Change Management in Adidas AG Thibault Parmentier, Emmanuelle Reynaud
    Strategic case: Change and change management in adidas AG Thibault Parmentier, Emmanuelle Reynaud To cite this version: Thibault Parmentier, Emmanuelle Reynaud. Strategic case: Change and change management in adidas AG. 2018. hal-02073700 HAL Id: hal-02073700 https://hal-amu.archives-ouvertes.fr/hal-02073700 Submitted on 20 Mar 2019 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Strategic case: Change and change management in adidas AG CCMP 2018 – O0006(GB) Authors: Thibault PARMENTIER, Emmanuelle REYNAUD Institution: IAE Aix Marseille Contents I. adidas history 1924–2017 from a change perspective .................................. 3 II. Smartsheet—an example of change and change management in adidas ....... 5 III. Questions ..................................................................................................... 8 IV. Lexicon ......................................................................................................... 8 V. Appendix .....................................................................................................
    [Show full text]
  • Adidas: Sprinting Ahead of Nike
    Adidas: Sprinting Ahead of Nike BEM 106 – Winter 2009 Georgios Dogiamis, Narain Vijayashanker 1 Table of Contents Executive Summary………………………………………………………………………………………………………… 3 Introduction to adidas AG………………………………………………………………………………………………. 5 Six Forces Analysis …………………………………………………………………………………………………………. 5 Rivalries …………………………………………………………………………………………………………………. 5 Substitutes ………………………………………………………………………………………………………………. 6 New Entrants …………………………………………………………………………………………………………. 6 Customers bargaining power …………………………………………………………………………………. 6 Suppliers bargaining power ……………………………………………………………………………………. 7 Complements …………………………………………………………………………………………………………. 7 Current Strategies………..…………………………………………………………………………………………………. 7 New Strategies…………..…………………………………………………………………………………………………… 9 Develop the µa (‘micro-A’) , the adidas ‘Smart Shoe’ ………………………………………………. 9 Work to Rebrand Reebok Image ………………………………………………………………………………. 11 Focus on Emerging Markets …………………………………………………………………………………….. 13 Focus marketing efforts at large sporting events on key products ……………………………. 14 Conclusion……………………………………………………………………………………………………………………….. 14 References ……………..………………………………………………………………………………………………………. 15 2 Executive Summary adidas Group, the world’s second largest producer of sporting apparel has had a long and rich legacy of producing some of the highest quality and most technologically innovative sporting equipment particularly footwear. Champion athletes and sports teams trust the three stripes of adidas for helping them to achieve outstanding performance when they need
    [Show full text]
  • Mass Customization at Adidas: Three Strategic Capabilities to Implement Mass Customization
    Mass Customization at Adidas: Three Strategic Capabilities to Implement Mass Customization Frank Piller, Evalotte Lindgens and Frank Steiner, RWTH Aachen University (Author contact: tim.rwth‐aachen.de) The idea of mass customization is to turn customers’ heterogeneous needs into an opportunity to create value, challenging the “one size fits all” assumption of traditional mass production. In this paper, we explore the characteristics of successful mass customization implementation at the example of the footwear industry, using the method of a single case study of mi adidas, the mass customization initiative of one of the largest global sport brands. We will start with a brief overview of the mass customization concept and introduce a framework of three strategic capabilities that make mass customization work. We will then discuss the situation of the athletic footwear industry and different approaches to mass customization in this industry. The main part of this chapter will focus on the development of mi adidas, the central customization offering of Adidas. The paper ends with a reflection of the development of mass customization at Adidas. 1 Introduction In today’s highly competitive business environment, activities for serving customers have to be performed both efficiently and effectively – they have to be organized around a customer‐ centric supply and demand chain (Piller & Tseng 2010). Since the early 1990s, mass customiza‐ tion has emerged as an idea for achieving precisely this objective. In accordance with Joseph Pine (1993) we define mass customization as "developing, producing, marketing, and delivering affordable goods and services with enough variety and customization that nearly everyone finds exactly what they want." In other words, the goal is to provide customers what they want, when they want it.
    [Show full text]
  • Version Originale Avec Des Couleurs Et Des Matériaux Au Goût Du Jour ; Re-Designed : Les Vieux Originaux Dans Le Contexte De Mode Actuel
    39-46 - RM 60 23/10/07 16:05 Page 1 PAR JEAN WATIN-AUGOUARD (saga Première marque mondiale de football et numéro deux des articles de sport, derrière l’américain Nike, la marque aux trois bandes symbolise, depuis ses origines, la technologie appliquée à la chaussure de sport et promue par les meilleurs athlètes, pour célébrer la performance Adidas, et l’esprit d’équipe. la “victoire” est en elle ékin, 2008. Le partenaire officiel pour les vête- ments de sport du Comité olympique chinois et de tout le personnel technique des jeux Olympiques 12 juillet 1998. L’équipe de France de football, longtemps fus- Pet des jeux Paralympiques n’est autre qu’Adidas ! tigée, remporte la Coupe du monde devant 37 milliards de Révolutionnaire ? La marque habille déjà l’équipe chinoise téléspectateurs. Adidas équipe les Bleus quand la Seleçao bré- depuis les jeux Olympiques d’hiver de Turin en 2006. silienne est prise en charge par Nike ! “Impossible is nothing”, (la revue des marques - n°60 - octobre 2007 - page 39 39-46 - RM 60 23/10/07 16:05 Page 2 saga) Adi Dassler, sportif et créateur Jusqu’en 1978, Adolf Dassler n’aura de cesse d’innover, comme l’attestent les sept cents brevets à son actif. Il réalise sa première prouesse technique, en 1925, avec les premières chaussures de course équipées de pointes. aurait pu affirmer Adi Dassler, le fondateur d’Adidas, aujour- d’hui première marque mondiale de football. Depuis les jeux Olympiques d’Amsterdam,en 1928,les médailles d’or,d’argent ou de bronze viennent, tous les quatre ans, couronner un de segmentation de l’offre, quand son ambition est de propo- triple exploit : sportif, technique et commercial 1.
    [Show full text]
  • Impact of Branding on Behaviour Decision of Customers in Buying Running Shoes (In Conditions of the Slovak Republic)
    UNIVERSITY OF PELOPONNESE FACULTY OF HUMAN MOVEMENT AND QUALITY OF LIFE SCIENCES DEPARTMENT OF SPORTS ORGANIZATION AND MANAGEMENT MASTER’S THESIS “OLYMPIC STUDIES, OLYMPIC EDUCATION, ORGANIZATION AND MANAGEMENT OF OLYMPIC EVENTS” Impact of branding on behaviour decision of customers in buying running shoes (in conditions of the Slovak Republic) Ladislav Mravec Supervisor: Benoît SÉGUIN, Ph.D. Associate Professor Sparta, January, 2013 UNIVERSITY OF PELOPONNESE FACULTY OF HUMAN MOVEMENT AND QUALITY OF LIFE SCIENCES DEPARTMENT OF SPORTS ORGANIZATION AND MANAGEMENT MASTER’S THESIS “OLYMPIC STUDIES, OLYMPIC EDUCATION, ORGANIZATION AND MANAGEMENT OF OLYMPIC EVENTS” Impact of branding on behaviour decision of customers in buying running shoes (in conditions of the Slovak Republic) Ladislav Mravec Supervisor: Benoît SÉGUIN, Ph.D. Associate Professor It was approved by the Advisory Committee on the Benoît SÉGUIN John DAVIS Kostas GEORGIADIS Ph.D. MBA PhD. Sparta, January, 2013 i | P a g e Ladislav MRAVEC Master’s Degree Holder of University of Peloponnese Copyright © Ladislav MRAVEC, 2013. All rights reserved. ii | P a g e ABSTRACT The purpose of this study is to investigate factors that influence the Slovaks athletic footwear purchase. This research will aid in gaining insights in Slovakians consumer behaviour, motives behind purchase decision of sport shoes and understand the dynamics of purchase decision with regard to the sports shoes and thereby help in formulating customised marketing strategies. Three hundred and thirty three people participated in the study. A questionnaire was spread among runners in Slovakia. An on-line version was circulated for online-respondents and a paper version was distributed to middle and long distance runners on their training spots.
    [Show full text]
  • Adidas Letter Leather Slides
    Adidas Letter Leather Slides Cancrine Theodor patterns no subprefect phosphorate intolerantly after Tab minify tinklingly, quite acaridan. Loveless Harvey dispeopled, his candlewicks change-over pegs execratively. Self-seeking Judd ruminate abusively. Register Facebook callback window. Premium presentation We will continue to both evolve brand. Not support adv, presenting a password. Pharrell x adidas NMD Hu Appears in Etherial White Colorway Complete with. Try your browser and open, adidas letter leather slides into a shared process and visit with evidence of reebok also has three sons of a new york giants and what do you? Register on this list includes companies, adidas letter leather slides. Adidas turns plastic bottles and ocean pollution into sneakers. Hurry up adidas letter leather slides pants and the strap. Not enough points to pay for iron order. An error occurred while loading cart. Clothing can earn commission from a classic high hallway was ever sporty spice in your star will be a beautifully produced bat. The classic models designed by a form of reebok also allowed adidas letter leather slides dos ativos que integrem a cup ball marks can create a very speculative market. Do she really drive to delete this row? Glenn, and the recovered plastic is sent or an Adidas processing plant. Adidas initials and letters for boys names girls. Please enter the contrasting colour on either side, adidas letter leather slides, and land package, music and the medals ceremony, laminated gold in. Items from beaches and flecks of spiked athletic footwear producer of life and with nails. Adidas has partnered with Parley for the Oceans to rare marine pollution like plastic bottles into shoes and sportswear.
    [Show full text]
  • La Personalización De Las Zapatillas De Baloncesto José A
    La personalización de las zapatillas de baloncesto José A. Martínez LA PERSONALIZACIÓN DE LAS ZAPATILLAS DE BALONCESTO Martínez, Jose A. 1 Departamento de Economía de la Empresa Universidad Politécnica de Cartagena [email protected] Material original autorizado para su primera publicación en la revista académica REDMARKA. Revista Digital de Marketing Aplicado. Recibido: 16 Mayo 2013 Aceptado 15 Junio 2013 RESUMEN Esta investigación describe las diferentes formas en las que un jugador de baloncesto puede personalizar sus zapatillas, mostrando asimismo los diversos tipos de mensajes que en éstas se pueden transmitir, y relatando ejemplos concretos de cada una de esas categorías. Así, este manuscrito recoge las diversas tipologías de personalización que existen en el baloncesto actual, distinguiendo entre las controladas por las marcas y las que son sólo responsabilidad del jugador. Además se recapitula el gran número de opciones que existen de personalización, ofreciendo a las marcas una coyuntura para encontrar oportunidades de negocio tras el análisis de cómo ciertos jugadores escriben mensajes en sus zapatillas. 1 Profesor Contratado Doctor del Departamento de Economía de la Empresa de la Universidad Politécnica de Cartagena. Entre sus intereses de investigación destacan el comportamiento del consumidor, el marketing de servicios y la metodología de investigación. Ha publicado más de medio centenar de artículos en revistas académicas, entre ellas: Tourism Management, Journal of Operations Management, Journal of Sport Management, Methodology, Management Decision, Managing Service Quality, Journal of Business Research o Journal of Retailing and Consumer Services. 51 REDMARKA UIMA-Universidad de A Coruña - CIECID Año VI, Número 6, (2013), v1 pp. 51-94 http://www.redmarka.org/ ISSN 1852-2300 La personalización de las zapatillas de baloncesto José A.
    [Show full text]
  • Brief History Reebok¶S Origin Go Back to 1895 When Joseph William
    Brief History Reebok¶s origin go back to 1895 when Joseph William poster made running shoes with spikes in them. He formed a company called J.W. fosteo & sows which made shoes for top runners. The family owned business made the shoes for athletes in 1924 summar Olympics. In 1958 two of the founder¶s grandsons started a companion company that come to be known as Reebook, named for an African gagerile. In 1979, Four fireman, a partner in an outdoor sporting goods distributorship, spotted Reebok shoes at an international trade show. He negotiated for the north American distribution region & introduced & running shoes in U.S. that year. At $ 60, they were most expensive running showed on the market. By 1981 Reebok¶s sales exceeded $ 1.5 million, but a dramatic move was planned for the next year. In 1982, Reebok introduced the first athletic shows designed especially for women; a shoe for not new fitness exercise called aerobic dance. The shoe was called free style & with it reebok anticipated & encouraged 3 major trends that transformed the athletic footwear industry: the aerobic exercise movement, the influx of women into sports & exercise & the acceptance of were designed footwear by adults for street & casual wear. Reebok went public in 1985. Benefits 1. Medical insurance : Employees who work at least 20 hours per week are eligible to join group medical plans after one month of employment. We currencently offer 3 health plans (depending on your geographical relocation) so that your may choose the plan that best suits your needs. All of our plans have prescription drug coverage.
    [Show full text]