This is an exciting time of year for CIRI. It’s the time when we meet with shareholders at a series of meetings leading up to the Annual Meeting to discuss the company’s financial performance and business activities, and introduce the candidates running for the CIRI Board. We had good turnout at the meetings in Anchorage, Kenai and Seattle and it was encouraging to see the enthusiasm and to hear positive feedback from our shareholders.
These were the first shareholder meetings in which I participated as CIRI’s president and CEO and I appreciated the kind words of support you shared with me. I am excited about working closely with shareholders and will be seeking your wisdom, support and guidance. I value your input and take your comments seriously.
At each meeting, I opened the business presentation by reading CIRI’s Mission Statement.
“The mission of CIRI is to promote the economic and social wellbeing and Alaska Native heritage of our shareholders, now and into the future, through prudent stewardship of the company’s resources, while furthering self-sufficiency among CIRI shareholders and their families.”
CIRI’s Mission Statement is a declaration of the purpose of our company – our reason for existing. It focuses the actions of the CIRI Board, executives and employees, spells out the company’s overarching goals, provides a pathway to success and guides our decision-making. CIRI’s Mission provides the framework and context within which CIRI’s strategies are formulated and put into action, and is always at the forefront of our minds as we carry out the work of the company.
The business presentations give me the opportunity to report that CIRI had another good year in 2012, delivering solid financial results and completing a number of strategic investments. Afterward, I heard comments and answered questions from shareholders. I was particularly pleased to show videos highlighting two of CIRI’s major achievements for the year – construction of the Fire Island Wind project and recent 12(b) land conveyances to the Cook Inlet village corporations. For those who were unable to attend the meetings, the videos are posted online and we encourage you to watch them.
- Fire Island Wind video can be viewed at www.fireislandwind.com
- To view the12(b) land conveyance video, click here.
The information meetings also provide an opportunity for shareholders to hear directly from the candidates seeking election to the CIRI Board. Each year shareholders elect five individuals to serve three-year terms on CIRI’s 15-member Board of Directors.
The Board of Directors is CIRI’s highest governing authority. It is the group of people legally charged with the responsibility to govern our corporation. The Board sets overall policy, based on the corporate mission and vision and exercises oversight to ensure CIRI’s stability and profitability. CIRI Directors approve strategic decisions, such as authorizing which investments the company will pursue, establishing the company’s dividend policy and determining the dates and amounts of such dividends and reviewing and approving the company’s annual budgets and financials. An informed, independent and involved Board is essential to ensuring CIRI’s integrity and long-term success.
As a shareholder, the most important thing you can do to affect the direction of the company is to participate in the Annual Meeting and Election of Directors. It is our responsibility as CIRI shareholders to know the Board candidates and to vote for the individuals who we believe are best qualified to guide our company and to protect the interests of CIRI shareholders. I encourage you to read about each of the candidates in the Voter’s Guide and Proxy Statement and then send in your proxy before the deadline of 2 p.m. Alaska Daylight Time, Friday, May 24, 2013.
This year’s Annual Meeting is being held in Puyallup, Wash. As part of CIRI’s attempt to connect with as many shareholders as possible, we rotate our annual meetings between Anchorage, Kenai and the Pacific Northwest. We hope shareholders and their immediate family members in Seattle and the surrounding area can join us on Saturday, June 1 at the Chief Leschi School.
It has been a pleasure to get together with many of you at the recent meetings. In CIRI’s more than 40-year history, we have grown into a diverse and successful corporation. CIRI’s success depends on shareholders who are engaged and excited about participating in their corporation. I look forward to working with you to ensure that growth continues for another 40 years and beyond.