Weatherford International PLC (NYSE:WFT) Issues Letter To Shareholders

0
631

Weatherford International PLC (NYSE:WFT) stated that in line with firm-wide drive for innovation, the company is always working to seek new ways to share their Annual Report with valued shareholders. This year, it decided to showcase their Annual Report as an interactive letter from CEO and their President, Mark A. McCollum.

The buzz

In 2017, Weatherford established the stage for the future of their firm. When he accepted this role last March, he noted the remarkable opportunity available to company, and also the effort and time it would take to attain its full potential. He is delighted to state that the firm has embraced this lead for change and come together to build a stronger firm.

Looking back on 2017, one of the first measures they took to support the foundation of their firm was engaging in a comprehensive and thorough evaluation of the way they operate. They took a hard look at their entire firm and concluded that while company has several strengths, there was ample room for improvement in consistency and efficiency.

The CEO of Weatherford addressed these segments for improvement head-on with a firm realignment. Their new structure explains responsibility, arranges process discipline, and sets a strong connection between their field-level decision makers and operational leadership. By creating alliance to a common set of objectives and goals, they established accountability into the fabric of their firm. Their new organizational structure marks as a cornerstone in their plan to enhance market share, drive out cost, offer improved earnings, record positive cash flow, and warrant Weatherford’s success in a fluctuating market.

McCollum is building on the momentum established by their realignment by commencing a strategic transformation plan intended to yield at minimum $1 billion in earnings within 18 – 24 months. The simplified organizational structure will guarantee the transformation is secured on process discipline, flawless execution, innovation and accountability.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.