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Since its inception, Ferrari has been one of the most iconic and well-known car manufacturers globally. Founded in 1929 by Enzo Ferrari, the Italian automaker has produced some of the most legendary and desirable sports cars in history. Over the years, several people and entities have owned Ferrari, each leaving their mark on the company's past. In this article, we will take a closer look at the individuals and organizations who have owned Ferrari throughout its illustrious history.
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Enzo Ferrari, the founder of the company, owned Ferrari from its inception in 1929 until his death in 1988. Under his leadership, Ferrari established itself as a leading force in automotive engineering and design, producing cars that won numerous races and championships. After Enzo Ferrari's passing, his son, Piero Ferrari, became the company's majority shareholder and served various roles, including Chairman and CEO, until his death in 2018.
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With the passing of Piero Ferrari, a new era of ownership began for Ferrari. In 2016, a consortium of investors led by Exor, the holding company of the Agnelli family, acquired a majority stake in the company. This move marked a significant milestone in Ferrari's history, as it brought in new leadership and resources to support the company's continued growth and innovation.
Who Owned Ferrari
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Throughout its history, Ferrari has been owned by various individuals and entities, each contributing to its legacy.
- Enzo Ferrari: Founder and majority owner until 1988.
- Piero Ferrari: Enzo's son and majority shareholder after 1988.
- Fiat Group: Acquired Ferrari in 1969, sold majority stake in 2016.
- Exor: Holding company of the Agnelli family, majority stakeholder since 2016.
- Public Offering: Ferrari's shares were listed on the New York Stock Exchange in 2015.
- Private Investors: Various individuals and investment groups hold minority stakes.
- Institutional Investors: Financial institutions and asset management firms also hold shares.
- Family Trusts: Trusts established by the Ferrari family members hold a portion of the company's shares.
- Employees: Ferrari employees own a small percentage of the company's shares.
- Board of Directors: The board includes representatives from Exor, Piero Ferrari, and other shareholders.
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Ferrari's ownership structure has evolved over the years, reflecting the company's changing circumstances and strategic direction.
Enzo Ferrari: Founder and majority owner until 1988.
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Enzo Ferrari, born in 1898, was an Italian racing driver, engineer, entrepreneur, and founder of Ferrari. His passion for cars and racing began at an early age, and he quickly made a name for himself as a talented driver. In 1929, he established Scuderia Ferrari, a racing team that competed in various races and championships.
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In 1939, Enzo Ferrari decided to expand his operations and founded Auto Avio Costruzioni Ferrari, a car manufacturing company. The company initially produced racing cars, but due to the outbreak of World War II, it shifted its focus to producing military vehicles and aircraft components. After the war, Ferrari resumed production of sports cars, and the company quickly gained recognition for its innovative designs and engineering excellence.
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Under Enzo Ferrari's leadership, the company achieved remarkable success in motorsports. Ferrari cars won numerous races and championships, including multiple Formula One World Championships. Enzo Ferrari was a perfectionist and a demanding taskmaster, but his dedication and passion for his cars were unmatched. He was known for his meticulous attention to detail and his unwavering commitment to building the best possible cars.
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Enzo Ferrari remained the majority owner and driving force behind the company until his death in 1988. During his tenure, he established Ferrari as one of the most prestigious and successful car manufacturers in the world. His legacy continues to inspire the company's engineers and designers, who strive to uphold the high standards set by their founder.
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Enzo Ferrari's ownership of the company was marked by a period of innovation, success, and the establishment of Ferrari as a global automotive icon.
Piero Ferrari: Enzo's son and majority shareholder after 1988.
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Piero Ferrari, born in 1945, is the son of Enzo Ferrari and Laura Dominica Garello. He inherited his father's passion for cars and racing, and he played an important role in the development of Ferrari after Enzo's passing in 1988.
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Piero Ferrari became the majority shareholder of Ferrari after his father's death. He also served as the company's Vice Chairman and Managing Director, overseeing various aspects of the business. Under his leadership, Ferrari continued to produce high-performance sports cars and achieved significant success in motorsports.
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Piero Ferrari was instrumental in guiding Ferrari through a period of transition and expansion. He oversaw the company's initial public offering in 2015, which resulted in Ferrari's shares being listed on the New York Stock Exchange. This move brought in new investors and capital, allowing Ferrari to invest in new technologies and facilities.
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Piero Ferrari remained a key figure in Ferrari until his death in 2018. He was known for his dedication to the company and his commitment to preserving his father's legacy. He played a crucial role in ensuring that Ferrari remained a leader in the automotive industry and a symbol of Italian excellence.
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Piero Ferrari's ownership of Ferrari was marked by a period of growth, diversification, and the successful transition of the company into a publicly traded entity.
Fiat Group: Acquired Ferrari in 1969, sold majority stake in 2016.
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Fiat Group, an Italian automotive conglomerate, played a significant role in Ferrari's history as a major shareholder and owner.
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Fiat Acquires Ferrari (1969):
In 1969, Fiat Group acquired a 50% stake in Ferrari from Enzo Ferrari. This move was driven by Fiat's desire to expand its portfolio of automotive brands and gain access to Ferrari's expertise in high-performance car manufacturing.
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Increased Ownership and Control (1988):
Following Enzo Ferrari's death in 1988, Fiat increased its stake in Ferrari to 90%. This gave Fiat majority control of the company, allowing it to influence Ferrari's strategic direction and decision-making.
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Investment and Expansion (1988-2016):
Under Fiat's ownership, Ferrari experienced a period of growth and expansion. Fiat invested in Ferrari's production facilities, research and development, and marketing efforts. This led to the development of new Ferrari models, increased production volumes, and a broader global reach.
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Sale of Majority Stake (2016):
In 2016, Fiat Chrysler Automobiles (FCA), the successor to Fiat Group, sold a majority stake in Ferrari through an initial public offering (IPO). This move was driven by FCA's desire to raise capital and focus on its core automotive businesses. After the IPO, FCA retained a 10% stake in Ferrari.
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Fiat Group's ownership of Ferrari was marked by a period of investment, expansion, and the successful transition of the company into a publicly traded entity.
Exor: Holding company of the Agnelli family, majority stakeholder since 2016.
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Exor is a privately-held investment company that serves as the holding company of the Agnelli family, a prominent Italian industrial family. Exor has a diversified portfolio of investments across various sectors, including automotive, manufacturing, and financial services.
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In 2016, Exor acquired a controlling stake in Ferrari through a series of transactions. This move marked a significant change in Ferrari's ownership structure, as it brought in a new majority shareholder with a long-term perspective and a commitment to preserving Ferrari's heritage and brand identity.
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Under Exor's ownership, Ferrari has continued to thrive and grow. Exor has provided the company with financial resources and strategic support, enabling Ferrari to invest in new technologies, expand its global presence, and introduce new models that have been well-received by customers.
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Exor's ownership of Ferrari is seen as a positive development for the company, as it brings stability and a long-term vision to the leadership of Ferrari. Exor has expressed its commitment to preserving Ferrari's unique character and ensuring that the company remains a symbol of Italian excellence and innovation.
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Exor's ownership of Ferrari represents a new era for the company, characterized by continued growth, innovation, and a focus on preserving Ferrari's legacy as a legendary automotive brand.
Public Offering: Ferrari's shares were listed on the New York Stock Exchange in 2015.
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In 2015, Ferrari took a significant step in its corporate history by conducting an initial public offering (IPO) and listing its shares on the New York Stock Exchange. This move marked a transition from being a privately-held company to a publicly-traded entity.
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Reasons for the IPO:
Ferrari's decision to go public was driven by several factors. The IPO allowed Ferrari to raise capital to fund its ambitious growth plans, including investments in new technologies, product development, and global expansion.
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Increased Transparency and Accountability:
As a publicly-traded company, Ferrari became subject to increased transparency and accountability. The company is required to disclose financial information and its operations more regularly, which can help to build trust and confidence among investors.
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Broader Access to Capital:
By listing its shares on the stock exchange, Ferrari gained access to a broader pool of investors, both institutional and individual. This can provide the company with more financial flexibility and support for its long-term growth strategy.
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Enhanced Brand Recognition:
The IPO also served to enhance Ferrari's brand recognition and prestige. Being listed on a major stock exchange like the NYSE can повысит the company's profile and make it more attractive to potential customers and partners.
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Ferrari's public offering was a success, and the company's shares have performed well since their listing. This move has allowed Ferrari to continue its growth trajectory and further establish itself as a global luxury brand.
Private Investors: Various individuals and investment groups hold minority stakes.
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In addition to major shareholders like Exor and public investors, Ferrari's ownership structure also includes a number of private investors. These include wealthy individuals, family offices, and investment groups that hold minority stakes in the company.
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Private investors play an important role in Ferrari's ownership structure by providing the company with access to capital and expertise. They also contribute to the diversity of Ferrari's shareholder base, which can help to ensure that the company is well-governed and responsive to the interests of all stakeholders.
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Some notable private investors who have held stakes in Ferrari include:
- Mubadala Investment Company: A sovereign wealth fund owned by the government of Abu Dhabi.
- Piero Lardi Ferrari: The son of Enzo Ferrari and a former Vice Chairman of Ferrari.
- Flavio Briatore: A former Formula One team manager and businessman.
- John Elkann: The Chairman of Exor and a member of the Agnelli family.
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Private investors' involvement in Ferrari's ownership is a testament to the company's strong brand, financial performance, and growth potential. These investors are betting on Ferrari's continued success and the long-term value of its shares.
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Ferrari's ownership structure reflects a balance between the interests of major shareholders, private investors, and the public markets, ensuring that the company can continue to thrive and innovate while preserving its unique heritage and brand identity.
Institutional Investors: Financial institutions and asset management firms also hold shares.
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Institutional investors, such as financial institutions and asset management firms, play a significant role in Ferrari's ownership structure. These entities hold large blocks of Ferrari shares on behalf of their clients, which include pension funds, mutual funds, and other institutional investors.
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Institutional investors are attracted to Ferrari's strong brand, consistent financial performance, and growth potential. They view Ferrari as a stable and profitable investment that can provide long-term returns for their clients.
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Some notable institutional investors who have held stakes in Ferrari include:
- BlackRock: The world's largest asset manager, with over $10 trillion in assets under management.
- The Vanguard Group: A leading provider of mutual funds and ETFs, with over $8 trillion in assets under management.
- State Street Global Advisors: One of the world's largest asset managers, with over $4 trillion in assets under management.
- Fidelity Investments: A major financial services company with over $4 trillion in assets under management.
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The involvement of institutional investors in Ferrari's ownership is a sign of the company's financial strength and its appeal to a wide range of investors. These investors provide Ferrari with a stable source of capital and help to ensure that the company's shares are widely held and traded.
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Ferrari's ownership structure is a reflection of the company's global reach, financial stability, and growth potential. The involvement of various types of investors, including major shareholders, private investors, institutional investors, and the public markets, contributes to the company's long-term success and ensures that Ferrari remains a leader in the luxury automotive industry.
Family Trusts: Trusts established by the Ferrari family members hold a portion of the company's shares.
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The Ferrari family, through various trusts and holding companies, continues to maintain a significant stake in the company founded by Enzo Ferrari. These trusts are established to protect the family's wealth and ensure that Ferrari's legacy and values are preserved.
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The most prominent family trust is the Piero Ferrari Trust, established by Enzo Ferrari's son, Piero Ferrari. This trust holds a substantial portion of the Ferrari shares and plays a key role in ensuring the family's continued involvement in the company's governance and decision-making.
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Other family trusts, such as the Enzo Ferrari Trust and the Alfredo Ferrari Trust, also hold shares in Ferrari. These trusts are managed by independent trustees who are responsible for protecting the interests of the Ferrari family members and ensuring that the company is run in accordance with the family's wishes.
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The involvement of family trusts in Ferrari's ownership structure is a testament to the importance that the Ferrari family places on preserving the company's heritage and ensuring its long-term success. The family trusts play a vital role in safeguarding Ferrari's unique character and ensuring that the company remains true to its founder's vision.
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Ferrari's ownership structure is a complex and dynamic one, reflecting the company's rich history, global reach, and diverse investor base. The involvement of the Ferrari family, through trusts and other entities, ensures that the company's legacy and values continue to guide its operations and strategic direction.
Employees: Ferrari employees own a small percentage of the company's shares.
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Ferrari recognizes the importance of its employees and their contributions to the company's success. As a result, Ferrari has implemented various programs that allow employees to own shares in the company.
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Employee Share Ownership Plan (ESOP):
Ferrari offers an ESOP that allows eligible employees to purchase company shares at a discounted price. This program encourages employees to become shareholders and gives them a stake in the company's long-term success.
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Share Purchase Plan:
Ferrari also offers a share purchase plan that allows employees to purchase company shares through regular payroll deductions. This plan makes it convenient for employees to invest in Ferrari and gradually build their ownership over time.
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Performance-Based Share Awards:
Ferrari may grant performance-based share awards to key employees as part of their compensation package. These awards are tied to the company's financial and operational performance, aligning the interests of employees with those of the company.
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Employee Stock Options:
In some cases, Ferrari may offer stock options to employees as part of their compensation package. Stock options give employees the right to purchase company shares at a predetermined price in the future. This can provide employees with a potential financial reward if the company's share price increases.
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Ferrari's employee share ownership programs are designed to motivate and reward employees, align their interests with those of the company, and create a sense of ownership and pride among the workforce.
Board of Directors: The board includes representatives from Exor, Piero Ferrari, and other shareholders.
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Ferrari's Board of Directors is responsible for the overall governance and strategic direction of the company. The board is composed of a diverse group of individuals with expertise in various fields, including automotive, finance, and business management.
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Exor, as the majority shareholder, has a significant presence on the board. Exor's representatives on the board ensure that the company's long-term interests and strategic vision are aligned with those of the Agnelli family.
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Piero Ferrari, as the son of Enzo Ferrari and a major shareholder, also holds a seat on the board. His involvement ensures that the company remains true to its founder's legacy and values.
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Other shareholders, including institutional investors and representatives of the Ferrari family, are also represented on the board. This ensures that the interests of all stakeholders are considered in the company's decision-making process.
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The composition of Ferrari's Board of Directors reflects the company's commitment to good corporate governance and the involvement of a diverse group of stakeholders in its decision-making process.
FAQ
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If you have further questions about who has owned Ferrari throughout its illustrious history, here are some frequently asked questions and their answers:
Question 1: Who founded Ferrari?
Answer 1: Enzo Ferrari, a legendary Italian racing driver, engineer, and entrepreneur, founded Ferrari in 1929.
Question 2: Who owned Ferrari after Enzo Ferrari's death?
Answer 2: After Enzo Ferrari's passing in 1988, his son, Piero Ferrari, became the majority shareholder and Chairman of the company.
Question 3: When did Fiat acquire Ferrari?
Answer 3: Fiat Group acquired a 50% stake in Ferrari in 1969, increasing its ownership to 90% in 1988.
Question 4: Who is the current majority shareholder of Ferrari?
Answer 4: Exor, the holding company of the Agnelli family, is the current majority shareholder of Ferrari, acquiring a controlling stake in 2016.
Question 5: Is Ferrari a publicly traded company?
Answer 5: Yes, Ferrari's shares were listed on the New York Stock Exchange in 2015, making it a publicly traded company.
Question 6: Who are some of the notable private investors who have held stakes in Ferrari?
Answer 6: Notable private investors who have held stakes in Ferrari include Mubadala Investment Company, Piero Lardi Ferrari, Flavio Briatore, and John Elkann.
Question 7: Who is the Chairman of Ferrari's Board of Directors?
Answer 7: John Elkann, the Chairman of Exor, also serves as the Chairman of Ferrari's Board of Directors.
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These are just a few of the frequently asked questions about who has owned Ferrari over the years. The company's ownership structure has evolved throughout its history, reflecting changes in leadership, strategic direction, and the involvement of various stakeholders.
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In addition to these frequently asked questions, here are some additional insights and tips related to Ferrari's ownership:
Tips
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Here are some practical tips to help you better understand Ferrari's ownership and its significance:
Tip 1: Explore Ferrari's History:
To gain a deeper understanding of Ferrari's ownership, it's helpful to explore the company's rich history. Learn about Enzo Ferrari's role as the founder and his passion for racing and engineering. Trace the evolution of Ferrari's ownership structure over the years, including the involvement of Fiat, Exor, and other key stakeholders.
Tip 2: Follow Ferrari's Financial Performance:
Keep an eye on Ferrari's financial performance to gauge the company's overall health and stability. Monitor its revenue, profitability, and stock price. This information can provide insights into the company's financial strength and its ability to attract investors.
Tip 3: Stay Updated on Ferrari's Leadership and Board of Directors:
Follow news and announcements related to Ferrari's leadership team and Board of Directors. Pay attention to changes in personnel, as these can indicate shifts in the company's strategic direction and decision-making process.
Tip 4: Analyze Ferrari's Shareholder Structure:
Ferrari's shareholder structure is a dynamic one, with various types of investors involved. Research the major shareholders, institutional investors, and private investors who hold stakes in the company. This information can shed light on the distribution of ownership and the potential influence of different stakeholder groups.
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By following these tips, you can stay informed about Ferrari's ownership, financial performance, leadership, and shareholder structure. This knowledge can help you better understand the company's past, present, and future.
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In conclusion, Ferrari's ownership history is a fascinating journey that reflects the company's evolution, successes, and challenges. From Enzo Ferrari's founding vision to the involvement of major shareholders and institutional investors, Ferrari's ownership structure has shaped its legacy and continues to influence its strategic direction.
Conclusion
Summary of Main Points:
Ferrari's ownership history is a captivating tale of passion, innovation, and strategic evolution. From its inception by Enzo Ferrari in 1929 to the involvement of major shareholders, private investors, and institutional investors, Ferrari's ownership structure has played a crucial role in shaping the company's legacy and driving its success.
Enzo Ferrari's leadership and vision laid the foundation for Ferrari's identity as a symbol of Italian excellence in automotive engineering and design. His son, Piero Ferrari, continued his father's legacy and ensured the preservation of Ferrari's unique character.
The involvement of Fiat as a major shareholder brought financial stability and access to resources, enabling Ferrari to expand its operations and increase its global reach. Exor, the holding company of the Agnelli family, took the reins in 2016, bringing a long-term perspective and commitment to preserving Ferrari's heritage.
Ferrari's public offering in 2015 marked a significant milestone, broadening the company's investor base and providing access to capital for continued growth and innovation.
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Ferrari's ownership structure is a reflection of its rich history, global presence, and diverse stakeholder interests. The involvement of various entities, including the Ferrari family, major shareholders, private investors, institutional investors, and the public markets, ensures that Ferrari remains a vibrant and successful company that continues to inspire and captivate car enthusiasts worldwide.
As Ferrari embarks on its next chapter, it is poised to continue its legacy of excellence, driven by the passion and dedication of its employees, the strategic guidance of its leadership, and the support of its loyal shareholders and customers.