Page 13 - Honeywell Annual Report 2021 comm 10 09 v17a.cdr

Chairman's Letter Cont’d

This past year was an unusually challenging year for our the Federal Road Safety Corps (FRSC) to educate and
people and the world at large, but Honeywell Flour Mills promote the need for safe driving particularly during the
employees stepped up to the challenge. Our people festive periods, just as support to orphanages and
brought our purpose and values to life across all levels of related bodies remained unwavering.
the company. During Covid-19, we concentrated on
Responding to the effects of the pandemic, we
business continuity, making the workplace safe for all
partnered with a number of State Governments at the
essential duty staff to return to work, while the rest of
beginning of the financial year, donating food products
our staff worked remotely. We did so with strict
to their emergency food response programmes with 2.2
protocols to protect everyone's physical and
million servings of food provided to people most at
psychological safety and thankfully, we did not have to
need during COVID induced lockdown.
shut down any of our factory locations due to the
outbreak of the virus.
Change to the Board
We refocused our learning activities and leveraged
technology to make sure our people have the skills to The Board is committed to entrenching a culture of
fulfill critical business functions. This focus on learning is good leadership, strong organizational ethics and
responsible corporate citizenship. Dr. Nino Albert Ozara
a key part of our ambition to make sure all our people
retired from his position as Executive Director,
can reskill, upskill, and work more flexibly. We developed
Manufacturing, on 18 May, 2020, having served the
and commenced implementation of a succession
planning, talent management, training and employee company for over 22 years. On behalf of the board, I
retention framework that will ensure transfer of thank him for his peerless service and great leadership.
Congratulations on a job well done and a retirement well
responsibility, knowledge and ownership of key business
deserved. Recognising the immense contributions,
processes, to the next generation of leadership. We also
insights and perspectives Dr. Ozara still has to offer, he
improved and enhanced employee engagement and
experience evidenced by our employee engagement was re-appointed to the board as a non-executive
score increasing by 17 per cent points over last financial director on 26 June, 2020. We look forward to his
continued involvement with Honeywell Flour Mills.
year rating.

Dividends
“ We are committed to investing The Board of Directors is pleased to recommend the
in the capabilities we need, the
payment of 7 kobo per share as dividend for the year.
know-how and the talent This represents 75 per cent increase over last financial
year dividend. If approved, the dividend will be paid to
to continue to create value shareholders on 14th October after deducting the
“ appropriate withholding tax.

Sharing Our Success
Fit for the future
We have a long-standing commitment to the
While we expect market conditions to remain tough and
communities we operate in. The commitment is to
the effects of Covid-19 may be with us for the
reach out beyond our business to affect lives in a
foreseeable future, our company has shown the
positive manner by implementing initiatives that
capacity to withstand shocks and emerge stronger. And
promote Education, Safety and the Environment.
with consumer behaviour evolving faster than ever, we
In the last twelve months, the company sponsored are adapting to this new reality by executing with speed
several youth-focused events in universities across in order to deliver competitive returns and meet the
different states in the country. The emergence of needs of our multiple stakeholders. We are committed
Covid-19 did not permit us to provide manufacturing to investing in the capabilities we need, the know-how
process exposure to school children, however, we and the talent to continue to create value.
donated to initiatives related to children during the
Finally, on behalf of the Board, I want to express our
period. We partnered with Lagos State Government
profound appreciation to the over 2,000 hardworking
under the Eko Cares Initiative, an empowerment
men and women of Honeywell Flour Mills and our
programme for women. We continued to partner with

14 HONEYWELL FLOUR MILLS | ANNUAL REPORT | 2021 World of Possibilities