83rd Annual Membership Meeting Highlights 2019’s
Challenges and Triumphs
BY MARY CATHERINE GASTON
AFC President and Chief Executive Officer Rivers Myres put all of 2019’s ups and downs into perspective as he began his report. “It’s true that 2019 was one of our most challenging years yet, but we were prepared because of our focused efforts as a team,” Myres said. “We rose above the challenges, accomplished our goals, and I am confident in our strategy for success.” Myres went on to assert his belief that AFC has “the right people in the right places, and we’re doing the right thing.” A good business plan, he said, is nothing without the people to make it happen. Following his report, Myres presented the 2019 President’s Award to 22 Cooperative store managers who finished the year with positive local earnings and net margin to sales equal to or greater than 1.5 percent. Thomas Hallin, AFC’s Chief Financial Officer, set the tone as he opened the meeting with the 2019 financial report. “Although 2019 was a challenging year, AFC’s financial position continues to be one of enormous strength,” Hallin said. “In fact, 2019 may prove 34
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to be one of the most financially successful years for AFC yet.” Each division’s 2019 challenges and triumphs were highlighted in video reports from division leaders. Bonnie Plants lost distribution at Walmart and Home Depot stores. However, Bonnie’s Chief Executive Officer Mike Sutterer explained that the division’s leadership took the opportunity to look at every aspect of the business and focus on improving for 2020. As a result, Sutterer explained, new initiatives are in place, and Bonnie re-
“It’s true that 2019 was one of our most challenging years yet, but we were prepared because of our focused efforts as a team,” Myres said.
