Industry Leaders Magazine June 2013 Issue

June 2013

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by Anna Domanska

Being a top CFO and being regarded as one are not easy to achieve.

More important, no one is born as a top CFO. Years of experience and outstanding knowledge lead some to being regarded as excellent chief financial officers. The cover story presents profiles of three top executives of present times. We should remember that being counted among the top CFOs is nothing permanent as anytime one can fall from the crest of the fame and acknowledgement.

If we are talking about skies, we should not forget about the moon which is expected to see tourists in the near future. People have been imagining the moon travel for centuries and it seems that we are very close to see dreams come true due to advanced technology and companies with passion.

The “Larger than Life” feature will open an amazing view of the most expensive hotels suites just in front of you. As summer is coming, maybe you will swallow the bait and book one of these heavenly hotel suites which offer celestial delights to mortals with full pockets.

All this and more…

Regards,

Anna Domanska Editor-in-Chief,

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Contents

FEATURES

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Better Business Destination

Amsterdam, the small city with the big heart, might surprise you, but the fact is that it is the better business destination.

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Cover Story

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Success Story

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Most people pay more attention to the role of a CEO (chief executive officer) than to the role of a CFO (chief financial officer).

Eni SpA, the Italian energy company which once was called as the ‘jewel in the crown’, has ventured far out into Asian Pacific region to sign a deal with the local Vietnamese national government to explore hydrocarbons.

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FEATURES

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Ever since the boom in natural gas, US energy prices have revised substantially, but have also sparked fears of great environmental harm.

Vogue for diamonds seems to be very solid, but it is nothing surprising as these stones have the undeniable beauty and strength that lures people.

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Latest in Business

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Latest in Business

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The Wow! Quotient

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Mergers & More

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A man has been looking at the sky for centuries. What do we see in the sky, in the space? What is so luring about the cosmos that countless generations have been creating myths and fairy tales about the space? Why have we been thinking about conquering the space?

Yahoo Inc., a struggling internet giant, has been in an acquisition spree since Marissa Mayer took the helm in July 2012.

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Summer is coming and probably your are just thinking where to go. If you desire to have some out-of-the-box experience in matter of money, below you will find something that might interest you.

Women, through the ages, have ruled nations, run banks, even led revolution and raised families through famine or floods.

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Larger Than Life

Leader Talk

94 Industry Events & Tradeshows

Head-Space

“I start with the premise that the function of leadership is to produce more leaders, not more followers.�

Ralph Nader

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Natural Gas Export Terminal lights burning Debate Ever since the boom in natural gas, US energy prices have revised substantially, but have also sparked fears of great environmental harm. Currently, the technique used to unlock huge reserves of natural gas is called FRACKING and is widely criticized by environmentalists.

The onus with tapping huge reserves of natural gas for the US economy has been energy independence. However, as of now, with the US Energy Department considering exporting natural gas, a fiery debate on the after-effects of such a move has already begun. Many resist the increase in prices that gas

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export would bring about, besides the increase in manufacturing costs that could substantially dent the US Economy.

On the 19th of November, US Energy Department announced that there was “transformative impact of record gas production from hydraulic fracturing in shale rock formations� executed at Freeport LNG project which is owned

by Dow Chemical Co.(DOW) as well as Osaka Gas Co

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- Anna Domanska

Samsung gains astonishing 95% of Android mobile market in Q1

Samsung Electronics Co. continues to establish its market leadership as the highest grossing smartphone maker in the congested Android smartphone industry. By offering a broad-selection of models, at different price-points and feature-options, the company’s Android smartphone profits are astonishing 95 percent of the revenues earned by the Android smartphone market. The South Korean giant firmly grasped an individual profit of as much as $5.1 billion from the total $5.3 billion posted by the Android smartphone industry for the first quarter ended March, according to the findings issued

by Strategy Analytics. The Samsung’s domination of Android in 2013 does not come as a surprise to those within the industry.

Amazing Samsung Statistics

Furthermore, the figures also revealed that Samsung Electronics Co. had in reality earned more profits by using Android OS than Google Inc. itself, which is the original developer of this open source operating system.

In an attempt to circumvent domination by the Samsung Electronics Co. which Google Inc. expected to be a ‘commodity’ rather than a dominant vendor using their operating system, the US-based company has announced that it will be next launching Galaxy S4 running on ‘pure Android flavor’ and not using Samsung’s proprietary software.

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Gigantic colorless diamond sold for staggering $27m Vogue for diamonds seems to be very solid, but it is nothing surprising as these stones have the undeniable beauty and strength that lures people. With the ongoing unstable economic conditions, demand for high-end and unique diamonds remains at the very high level. Therefore it is not surprising that the gigantic colorless diamond was auctioned off for almost $27 million, setting a new record in this category.

Exceptional diamond – Legacy”

colorless “Winston

Strong demand for diamonds has been

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confirmed by an auction which took place in Geneva on the 15th of May. Christie’s Inc., a famous art house, had a pleasure to conduct the auction which later turned out to have set the record for the price of a colorless diamond. Interestingly, the gigantic D-color diamond was sold for astonishing $27 million and it is believed to be the most expensive auctioned colorless diamond ever, thus its august owners have one more thing to boast about. Nothing will change the fact that it is a still “modest” price compared to the world’s most expensive diamond which was auctioned off for over $45.5 million. The record is proudly held by the famous “Graff Pink.”

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France to impose ‘cultural tax’ on tech giants to fund cultural projects Taxes in France are levied in various forms. No one is spared from it, not even ex-president Nicolas Sarkozy who finally had to shift to neighboring country to avoid paying taxes. The latest to experience French examination for imposition of taxes are giant technology companies operating in France, including Apple Inc., Amazon.com Inc. and Google Inc.

France is seriously considering imposing tax, which would be widely known as ‘cultural tax’, on the aforementioned technology companies and others so as to fund various cultural projects. It is not new for companies to pay fees in France to propagate art, cinema and

music. Most entertainment companies from television segment to radio broadcasting and Internet Service providers are already in the government’s tax net.

Origins of Cultural Tax

In fact, we can trace origins of cultural taxes in France back to 1960 when the proud European nation opposed to the dominance of the American language and products and introduced various regulations to minimize the process of “Americanization.”

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“Wave Park” Shown the Green Flag by the Scottish Government On the 23rd of May, the Scottish government has given the go ahead to Edinburgh-based company Aquamarine Power to set up power generation plant in the form of “Wave Parks” which will generate electricity harnessing the inexhaustible tidal energy off the cost of the Western Isles.

Not surprisingly at all, the decision to green light the project, which will lead to the construction of the world’s largest wave farm, was announced to the media by Fergus Ewing who is the Scottish minister responsible for portfolios of ENERGY, Enterprise & tourism. The Scottish government’s decision to allow

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this Wave Park followed a go ahead by “Group of Ministers” committee set up by the authorities to look into the pros and cons of such infrastructure in an ecologically sensitive place.

As per the Scotland government communiqué announcing this landmark approval – the green company has been given the “license to setup & develop the largest wave park” in the world as of date. The Scottish government, based on their internal fact finding committees, believes that Scotland has the potential to produce up to ten percent of total Europe’s wave power output.

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Xbox 720 to strengthen position of Microsoft

Microsoft Corp. has presented present its Xbox 720 game console as the tech giant aims to win a bigger market share in the gaming market. The new Xbox 720 game console is expected to help the company strengthen its position in the market which has been dented by the emergence and growing popularity of mobile devices. But the fact is that Microsoft Corp. will witness also stronger competition from Sony Corp. which is due to launch its new PlayStation 4 in June. The competition gets tougher not only in the computer gaming industry, it gets tougher in the console market as well.

Revamped Xbox to help Microsoft gain bigger market share Fans and analysts have been waiting for the Xbox 720 for a long time. But at last, Microsoft Corp. presented its long-awaited revamped Xbox game console. The tech giant wants to affix seal to its dominating position in the console market with its new Xbox 720. Earlier in May, the findings released by NPD indicated that Microsoft Corp. sold as many as 130,000 Xbox devices in April in the US, strengthening its position as the producer of the most popular game console.

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-Jay Raol “A woman is like a tea bag - you can’t tell how strong she is until you put her in hot water.”

-Eleanor Roosevelt

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Women, through the ages, have ruled nations, run banks, even led revolution and raised families through famine or floods.

While some of them have achieved national and international recognition, many have remained anonymous winds of change in their societies.

The fact is that the reign of Margret Thatcher as Prime Minister of Great Britain and the President Aquino’s struggle to revitalize Philippines showed the political power and acumen of women of this period. Then, there were the likes of Mother Theresa whose life-long dedication to serving the lepers of Calcutta led to a global drive against leprosy and eventually won her the Nobel Prize.

Each of them has led by example and brought about seachanges in their immediate

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societies and some both nationally and internationally.

In recent times, however, with social changes across the globe the women global leaders have emerged in various walks of life. While earlier women could lead as head of states and be part of radical political, social changes, with a few exceptions, they largely remained out of the leadership on the economic front.

Women business leaders were rare and those who did rule the roost belonged to traditional business organizations.

Globalization and Education brought new wave of leaders When analyzed in the context of history, one is tempted to say that the old economic order of monarchies and dictatorship did not give much room for women leaders to emerge into public life.

Then in the post-World War II period, when the old economic order broke down, giving place to a new world order of young countries, emerging economies, new education and most impor-

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tantly -freedom, fraternity and sovereignty - were women able to achieve their personal freedom.

Empowered by exposure to emerging technologies and education, women have perused professional courses and emerged as qualified doctors, engineers, architects, scientists, astronauts and more. In many countries, women who had access to education helped in the establishment of schools for the local communities and at the regional and national level and introduced social changes and eventually became leaders of their nations.

During this phase emerged leaders such as An san suki, the Oxford-educated Burmese leader who had fought the military rule and lived for more than three decades confined to the country’s jails. Only last year did Burma see wings of change and democratic elections were held for the first time. She has epitomized women leaders engaged in a peaceful struggle for democracy.

There are several other examples of women leaders who have brought social changes and there are women leaders of the modern age who are faced with different challenges but continue to domi-

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nate the horizon as leaders.

Women leaders in the post liberalization era Modern society is defined as a fastpaced, jet-setting, real-time society that believes in making things happen NOW. Women too have become part of such social, economic and cultural changes and have remained in harness leaders of not only political units but at business and institutional levels as well.

A study by Catalyst, a women’s research non-profit organization, underlines that in the past decade there were significant changes in the number of women holding high corporate posts, besides being able to influence people across the globe.

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In 1998, the number of women corporates at high levels was found to be around 11.2 percent in Fortune 500 companies. In 2005, it was found that the numbers had increased and reached approximately 16.4 percent. However, in 2008, there was a fall in number of women executives in Fortune 500 companies, reaching modest 15.7 percent. The study estimates that it would be more nearly half-century before the number of women holding high-level posts would match that of men.

However, the march of women business leaders in the past two decades has been spectacular as they have stormed several bastions from aerospace travel to starting their own high net-worth technology companies. Below, you will have a chance to get to know some of

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the great women leaders from the business background.

Indra Nooyi P One of the best known names in corporate history, in recent years, has been Indra Nooyi who is at the helm of PepsiCo. In fact, India-born Nooyi is at the top of the world’s 50 Most Powerful Women’s list for the past half -decade now and yet going strong. Her famous takeover of two bottling companies for PepsiCo and earning high revenues have brought her to the limelight. She now aims to save nearly $400 million each year as cost saving.

Irene Rosenfeld Buying Cadbury, the popular candy maker, has been the hallmark of her business forays thus far. However, Irene Rosenfeld, chief executive officer at Mondelēz International Inc., has very ambitious plans for her company and is already riding high following the bifurcation of the company into a local company and an international snacks company. She is widely acknowledged

as a goal-oriented leader who uses motivational practices to achieve all outlined targets.

Patricia Woertz Is the woman leader who would inspire not just women but men too. From building huge business experience in the oil industry, she has ventured into secondary markets as well- agriculture, food as well as chemicals. One of the largest companies in processing corn, ADM has experienced great growth thanks to her acumen. Now, as she looks at the agro-processing industry for other crops she is bringing about sea-changes at micro-level.

Angela Braly Undeniably, Angela Braly represents the new wave of women business leaders who has

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the acumen as well as the skills to maneuver a struggling industry. As chief executive officer at WellPoint Inc., which is the US second largest insurer, Angela Braly aimed to bring about massive changes in health insurance. Yet her example shows that even great leaders face difficulties and harsh criticism as she resigned from her post back in 2012.

We should remember word of C.S. Lewis who once noted: “Failures are finger posts on the road to achievement.”

Andrea Jung Besides being the Chairman and CEO of Avon Products, Andrea Jung is one of the few women leaders at two of world’s leading technology companies – Apple Inc. and GE. Her tough work and determination make her a great leader of the present times. She once said: “I realised that I wanted to be a leader and make a difference in the future of the company,” indicating this incredible strength of mind which is one of the main determinants of great leaders.

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Oprah Winfrey As a host of a talk-show that brought hundreds of celebrities, social issues to the heart of American homes, Oprah has become a leader in her niche – both as a business leader and an influencer who drives social change through her foundation and other charity organizations that she works with. She is example of strength that leads one to a successful life and her life, which was not full of roses, gives one a hope that everything may be achieved.

These are just a few of the most popular women leaders of the past few years who drive incremental changes. These women leaders have established avenues and platforms for other women to achieve. Their stories of achievement are incredible and should inspire other women to aim high, showing that women leaders are not worse than men. Margaret Thatcher was right saying: “If you want something said, ask a man; if you want something done, ask a woman.”

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Richard Maryn

“Aim for the moon. If you miss, you may hit a star.�

-W. Clement Stone Industry Leaders Magazine

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A man has been looking at the sky for centuries. What do we see in the sky, in the space? What is so luring about the cosmos that countless generations have been creating myths and fairy tales about the space? Why have we been thinking about conquering the space?

We live on the beautiful planet which still has not been destroyed totally by the humankind and technology. Yet the urge to conquer the cosmos seems to be so strong as we simply do not want to see our lives limited only to the Earth. It may come as no surprise that for many years or even centuries, people have been dreaming about travelling to the moon. Jay Chiant described these urges and dreams, stating: “In the ‘20s they were telling us wed all have our own private plane and take vacations to the moon.”

But the fact is that moon tourism is not any longer a nare’s nest as we are in possession of technology that will enable us to travel to the moon for vacation, at least according to some companies which aim to build a new industry on the foundation of the human’s deep dreams about the cosmos. It seems that moon tourism is indeed closer than we think as space tourism has been at the same time progressing.

With all advances in technology, some people still cannot imagine moon tourism as it seems so unreal. Even at space conferences, tourism as a subject is still very unpopular. But the fact is that people are ready to pay hefty sums to have a chance and go on vacation to the moon. Lunar tourism is something which is simply inevitable as it is really knocking at ours doors.

Entrepreneurs and companies are much aware of the human fascination with the moon and the travelling to the moon. As any business leaders, they see a chance

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to cash in on the people’s lunar dreams.

The idea pushes them to take action.

They do not only dream, they make dreams come true. And these kinds of innovators push the civilization to develop, to progress. The dream is only the beginning. Moon tourism is just to become reality and stop existing in only the sphere of imagination.

Moon business With advanced technology, some companies have decided to cash in on moon tourism which is indeed in the sphere of interest of the super-rich people. The fact is that the lunar travel will be available only for people with wealthy pockets in the nearest future. For an abundance of moon tourism, men in the street will have to wait a little bit longer. Not going into details of the democratization of the aforementioned process, we should underline that some companies have already prepared offers for those who are interested in travelling to the moon and simply can afford it. Indeed, we should remember words of Tom Hanks who once noted: “From now on we live in a world where man has walked on the Moon. It’s not a miracle; we just decided to go.”

It is the same thing when it comes to moon tourism.

One of these companies is UK Excalibur Almaz which announced that it would be all set to take the first daredevils on private lunar expeditions by 2015 (sic!).

According to the first adumbrations, the company will charge staggering £100 million for a single person who will enjoy a six to eight-month vacation. Yet, if you are ready to do that, you should remember that two other wealthy individuals will be accompanying you. Imagine yourself trapped into a relatively small capsule which you will have to share with two total strangers. Even though the company bought spacecrafts needed

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to launch the whole operations, analysts are rather skeptical whether Excalibur Almaz would really be ready to start its adventure with lunar tourism in 2015.

Space Adventures is the company which is believed to be closer to launching lunar tourism as it has some experience

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in offering trips to the International Space Station. Tom Shelley, president of Space Adventures, poured cold water over two ambitious plans, underlining: “Our plan is to be able to circumnavigate the moon. It’s not to land on it just yet. We’re going to take it step by step.

So, first of all, we’ll just get mankind

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close to it, get to about 100 kilometres.�

According to the details of the Space Adventures’ offer, a person who will decide to pay astonishing $150 million for a single ticket will have a chance to take the trip to the moon in the Russian Soyuz spacecraft. There are going to be only three places in the spacecraft, one of which is to be taken by a Russian astronaut. The company expects to launch its first lunar mission by 2017.

Golden Spike is also another company very much involved in development of lunar tourism. The company is very much engaged in the project of lunar

tourism as it has even employed veteran aerospace firm Northrop Grumman to design a special vehicle which will take its customers to routine exploration expeditions to the surface of the moon. According to the company’s estimates, this two-person vacation, which in fact will be fully automated mission, will cost alarmingly staggering $1.4 billion (or about exorbitant $750 million per person). The fact is that Golden Spike is much more careful when it comes to giving the date of the first mission. The company once stated that the first mission should take place by 2020, giving itself a bigger time margin.

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Space tourism The undeniable fact is that before moon tourism juices up for good, there is time for space tourism which will not cause as many logical and other problems as the lunar travel. Space vacations will not only be cheaper but also safer than lunar expeditions. And they are simply at one’s fingertips. For example, for staying at the International Space Station, seven people would pay from $20 million to $40 million – that seems as a quite reasonable or even a modest price. And what is interesting is the fact

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that these expeditions to the International Space Station are organized by Space Adventures.

In addition, more and more companies are deeply interested in biting this piece of cake, thus we can expect bigger and harder competition in space tourism.

Tom Shelley noted: “I think trips to the station will become a lot more frequent in years to come.” And this is highly probably as some companies have in their plans construction of private space stations, thus much bigger crowd might want to spend their space vacation be-

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fore betting on moon tourism.

Mars pie in the sky And what about Mars then? For Mars tourism, we will have to wait much longer. However, what is interesting is the fact that the colonization of Mars will happen faster than Moon tourism because of technology development, including the problems of getting back from the Red Planet to the Earth.

Interestingly, two projects aimed at colonizing Mars have been recently launched. Thus we can say that the colonization of the Red Planet might come true due to Elon Musk’s project and second project – Mars One. Still, it seems that the plans of the Mars colonization are in the sphere of dreams, taking into consideration technology and finding down-to-earth funding. But even if you just consider taking part in these almost futuristic plans of the Mars colonization, we should remind you that you will have to stay there for the rest of your life.

Thus it is better to pay a hefty sum and go on vacation to the moon as you will then come back to the Earth and continue to live your earthly life.

Moon – popular vacation destination Human fascination with the moon has accompanied mankind for countless years. Apparently, we will be able to travel to the moon in the relatively near future. Even twenty years ago, lunar tourism seemed unreal, even futuristic.

Yet with advance technology and progress, we are to witness an emergence of new tourism branch. Interestingly, it is more than probable that the moon will become the popular vacation destination due to the people’s desire to see and experience the moon.

Carl Sandbur once said: “The moon is a friend for the lonesome to talk to.”

So if you have this urge to talk to the only natural satellite of the Earth and you want to do it “face to face”, prepare a stash of cash and wait for the emergence of moon tourism.

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Most people pay more attention to the role of a CEO (chief executive officer) than to the role of a CFO (chief financial officer). Maybe it is because of the fact that a CEO is usually in the limelight, while a CFO is standing somewhere in the shadow. To be successful, a company has to have not only an outstanding CEO who will steer the ship but also a dependable CFO who will help him to navigate the vessel.

Interestingly, over the last decade, the role of a CFO has significantly changed as people serving as financial heads have been confronted with growing challenges of the contemporary business world. Indeed, basic responsibilities still revolve around financial reporting, audit and compliance, planning, treasury,

and capital structure, but more CFOs have taken additional duties in portfolio management and capital allocation on their shoulders, thereby substantially broadening their roles in companies. We should not forget that some CFOs play main roles in communication with investors or a company’s board itself. While

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the role of a CFO is continually broadening, we cannot expect one to be good at everything as it is simply unrealistic.

The role of a CFO should be adjusted to the current conditions and broaden only in line with the perspectives and targets of a company. Otherwise, no one will be able to live up to all expectations standing ahead of him/her.

When one thinks about qualities of the best CFO, different things and qualities come to mind. For some, the best CFOs should have an outstanding command of the finances and strong understanding of business operations. Others believe that the top CFOs should have these skills of persuading investors and the board, while some will underline that the top CFOs always find a way to understand their CEOs so that they run the company together, bringing outstanding results and implementing the common vision of the company.

Undeniably, the top CFO should be a great financer, good leader and exquisite psychologist. With all these qualities and even more, one can lead a company to success.

Below you will find CFOs which are believed to be the best CFOs in the world.

Check if they represent all aforementioned qualities.

Peter Kellog - CFO at Merck & Co. Inc. Without a doubt, Peter Kellog, chief financial officer at Merck & Co. Inc, is believed to be one of the world’s best CFOs as he has been appreciated by many rankings and institutions. Apart from serving as CFO, he is also Executive Vice President of the company.

No question that leading a company like Merck, which is the world’s third-largest pharmaceutical company, is not easy pickings at all.

In 2012, Merck & Co. Inc. noted revenues of nearly $47.5 billion, yet it saw

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its sales drop approximately 2 percent driven by unfavorable foreign exchange. However, the company has not suffered from generic competition during the “patent cliff” of 2011 and 2012 as much as other pharmaceutical companies due to measures designed by CFO Peter Kellog himself.

It might be surprising that Peter Kellog is as happy as a clam at Merck & Co. Inc. despite the fact that he joined the company relatively recently as in

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2000 after serving 13 years at PepsiCo - so a company with a completely different product portfolio. As it was described by him, he saw his latest years at the world’s third-largest pharmaceutical company as a “great learning opportunity”.

Indeed, it seems that he was at the top of class as he supervised Biogen’s merger with Idec back in 2003. Since he took the financial helm of the CFO at Merck & Co. Inc., he has been widely recognized

as one of the best CFOs in the world.

But a good leader is one who does not take all the merits, and Peter Kellog is undeniably a person who credits his success to his coworkers and inferiors.

He once underlined: “You have to make sure you have great teams and great people around you,” adding that he just gave them tools that they could use to succeed. A great team is indeed a key to success as Peter Kellog has his hands full as he is responsible for accounting,

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controls, business planning, treasury, taxes and more…

Mark Loughridge – CFO at IBM Corp.

Another example of the world-class CFO is Mark Loughridge who serves at IBM Corp. Under his tenure which started in 2004, the company has made many acquisitions, making IBM Corp. more competitive in the market. However, we should remember that even the best CFOs make some mistakes, so does

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Mark Loughridge.

Many analysts agree with the statement of Peter Mclean, chairman of the Global Financial officer Practice, that Mark Loughridge simply “defines the modern CEO” due to a successful combination of finance and strategy.

Undeniably, Mark Loughridge has been eulogized for his part in the aftermath of the divestiture of the IBM Corp.’s PC business in 2005. Ben Reitzes, a stock analyst at Barclays Capital, underlined: “When Mark took over, IBM had made

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a lot of hard decisions. What investors didn’t understand was what the new IBM would look like. He took [the opportunity to define that] and ran with it,” adding that shareholders were not convinced whether the electronics giant would bring satisfying financial results.

Thanks to some initiatives introduced by Mark Loughridge, the company’s investors these days know where the company is heading and this is an arguably laudable achievement. Mark Loughridge noted that the company’s strategy was

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not any longer incomprehensible, adding: “Every investor may not agree with everything that we are doing, and that is a fair discussion to have. They have the right to kick the tires, but the conversation is no longer about how hard we are to understand.” He has simply implemented some quality changes which are beneficial for both the company it-

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self and its investors.

Since he took over the CFO position, he has been pushing the company towards acquisitions which in fact have become an important element of IBM Corp.’s strategy.

Some may criticize choices as there have been no so-called “wow acquisitions”,

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some may criticize them for circumspection, yet no one can say that they were not well-thought-out in a matter of accretion and internal rate of return. Toni Sacconaghi Jr., a hardware analyst with Sanford C. Bernstein & Co. noted justifiably: “They’ve become a model in the industry for how to acquire companies in a continuing way, and Mark has been

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at the epicenter of that.”

Karen Hoguet – Macy’s Inc. Not surprisingly, Karen Hoguet is also regarded as one of the top CFOs as she has been helping Macy’s Inc. to go successfully through painful transition while

facing the new danger from online shopping companies. Analysts note that as CFO at Macy’s Inc., the position she took back in 1997, Karen Hoguet has showed that women are as good and reliable as men at the top financial positions.

Similar to Mark Loughridge and Peter Kellog, she supervised successful acqui-

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sitions which led to strengthening position of Macys Inc., just to mention the $17 billion purchase of May Department Stores Co. back in 2005.

leader and at the same time CFO will be able to face and admit to them, not to mention that s/he will be able to draw conclusions from all downfalls.

However, after the acquisition, the company tried to implement few changes which were unsuccessful. She underlined herself: “We bought May Co., tried to reduce the coupons Day One and it was a failure,” adding that customers were just used to them and appreciated that practices. From the above statement, one can conclude that Karen Hoguet is not afraid of admitting to failures. Simply, this ability can be found only in great leaders and Karen Hoguet is undeniably one of them.

To have or “create” a top CFO, a company has to have a person with the required qualifications and abilities. There has to be understanding and magic not only between a CFO and CEO, but also between a CFO and a company in general.

Management functions differ depending on a company’s structure and organization, not to mention history or charac-

While the ongoing changes are making their ways and modifying customer behavior, Macy’s CFO Karen Hoguet is trying to integrate store and website inventory which in turn will reduce costs.

Analysts appreciate many of her doings, including her attempts to make Macy’s Inc. more competitive in the environment witnessing the growing popularity of online shopping. Many experts agree with Liz Dunn, an analyst at Macquarie Securities, who once highlighted: “She has had the most complex job in retail, given all that Macy’s has done, and has done a tremendous job of it.”

Moreover, it seems that her cooperation with Macy’s CEO Terry Lundgren has been working out quite well as he likes to underline that she is one of the most reachable executives on the team. This is the confirmation of the thesis that a successful CFO should have this magic with a CEO as the mutual understanding will push them to achieve greatness.

TOP CFOs with top qualities The above examples of the top CFOs indicate the people’s strength and determination in aiming high. Without question, everyone faces failures but a great

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teristics of industry. But a great CFO will have to face always rising demands of investors, no doubt about that. No wonder that finding a great CFO is a tough task. We should remember that what makes a CFO great is his ability to drive changes as without this skill, the company will not develop and will lag behind its rivals in the sector.

With so many responsibilities, a great CFO will know how to cope simply by delegating them to others. But this quality does make not only a top CFO, but also other executives and leaders. The

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Story

skill of delegating responsibilities and then supervising is tough, yet it shows the competences of a person who can just focus on the most important tasks.

A CFO has to simply drive value in the business and Peter Kellog, Mark Loughridge and Karen Hoguet know how to do it, thus they are one of the top CFOs.

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- Jason Miller

“Yahoo is all about content. Deep reservoirs of important content in many, many strong areas.�

-Terry Semel Industry Leaders Magazine

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Yahoo Inc., a struggling internet giant, has been in an acquisition spree since Marissa Mayer took the helm in July 2012. Everyone is carefully observing doings of Yahoo Inc. as the company does not have a successful record of acquisitions.

hemoth of Internet companies.

Yet analysts note that this is the picture of the past and the latest acquisitions made by Yahoo Inc. will bring it back to the game. Their confidence is dictated by the successful carrier of Marissa Mayer who might be named as the be-

Without a doubt, acquisitions of startups, which have been successful in their segments, are arguably one of the main elements of the Marissa Mayer’s strategy for Yahoo Inc. The question is wheth-

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Thus the acquisition of Tumblr is not surprising at all, taking into account that Marissa Mayer aims to personalize the web services provided by Yahoo Inc. and modify the products of the company to suit mobile devices.

Industry Leaders Magazine

er Yahoo Inc. and its new management team will be able to fully take advantage of a potential golden goose. And one of these golden gooses is Tumblr, according to Marissa Mayer. Thus the company announced the acquisition of blogging service Tumblr.

It may come as no surprise that the decision-making caucus at Yahoo Inc. now sees investing in social blogging media as the new opportunity to steer the company towards greater fortunes.

In the first of the series, it will invest as much as $1.1 billion to buy famous

Tumblr, a short-form blogging service.

The social blogging network currently glories in staggering 108 million blogs with nearly 51 billion posts.

What is interesting is the fact that analysts are rather incredulously looking at the sum as they believe that Yahoo Inc. has simply overpaid for the company which has never posted a profit! However, they underline that the company was extremely determined to sew up a hole in its social media segment as the attempt to acquire Dailymotion fizzled out.

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Old-internet Company – new media platform Despite a head start as one of the oldest internet companies, Yahoo Inc. has had a checkered growth graph. It has time and again acquired other companies in a bid to expand its services and maintain the leadership it had acquired as a firstmover. Sadly, a number of failed acquisitions speak another story. In public memory is the failure of Geocities, a fledging web community that failed to

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make to after Yahoo Inc. acquired it.

Then there is Flickr in recent memory.

When launched, Flickr quickly established itself as a leading images/pictures community-based service but lost ground, once Yahoo Inc. had acquired it and did not have a great growth plan for the service.

However, industry analysts believe that there are winds of change following the appointment of Marissa Mayer as Chief Executive Officer. Her brilliant career at

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Google Inc. holds great hope for Yahoo Inc. Besides, Yahoo community too is keen that Flickr be revived. Considering the possibility that Marissa Mayer will give a free reign to Karp – in the context of user community and product – it is expected that Tumblr will truly turn the tables for Yahoo Inc.

Tumblr will bring its culture to Yahoo The acquisition of Tumblr, which was founded back in 2007 by David Karp and is most popular among young audience, is aimed at luring younger people and strengthening the company’s position

in this market. The Tumblr’s popularity as a social blogging platform for the younger age group has grown substantially as the network does not insist on real names of users and adopts a briefer or short-form blogging service.

The findings by research firm Quatcast indicate that the largest percentage of users are aged between 18 and 24 years and are nearly 29 percent of total Tumblr user base. Interestingly, what makes it important for Yahoo Inc. is the fact that more than 19 percent of users are aged below 18 years. Therefore it is expected that the acquisition of Tumblr will bring new young users.

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David Karp to continue It may come as no surprise that David Karp is to continue as Head of the social blogging platform. It is expected that Karp will bring in youthful features, greater technology leadership, powerful social skills that have driven Tumblr’s success and personal passion for community and content.

In a statement, Yahoo Inc. underlined: “Per the agreement and our promise not to screw it up, Tumblr will be indepen-

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dently operated as a separate business.”

According to the acquisition agreement, David Karp will work at Yahoo / Tumblr for at least for years and, what’s more, he will be one with power when it comes to decisions regarding Tumblr’s services, product and brand itself. Thus some believe that at least in the next four years, the service will be constantly developing as long as Yahoo Inc. keeps its hand off it.

And this is important as Tumblr can glory in fantastic results! In recent fiscal

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quarters, Tumblr has outperformed Facebook on mobile. When viewed in relation to the amount, Facebook paid to acquire Instagram at $1 billion, nearly $1.1 billion for Tumblr yet looks to be a bargain for Yahoo Inc. – nothing to sneeze at. Interestingly, Google Inc. paid an astonishing sum of $1.65 billion to buy stock in YouTube good six years ago.

For Tumblr, Yahoo Inc will help with monetization. Tumblr’s massive user base will help Yahoo Inc., which has its focus on data-related services, to sell advertisements, keeping in constant focus the interests of end users.

Really good deal?

The acquisition of Tumblr by Yahoo Inc. has surprised many. While some note that this deal might be a step in the right direction, others doubt in the sense of the purchase.

Analysts note that the acquisition will bring fruits only if the company witness 50 percent growth of audience and will record monetization. But the fact is that investors are more than doubtful as after the acquisition was announced, shares of Yahoo Inc. increased modest $0.06.

And fans of Tumblr are not big advocates of the idea of their blogging service going under the wings of Yahoo Inc. Even though Yahoo CEO Marissa Mayer ensured that the company would keep its hands off Tumblr and the original stuff would continue to steer the ship, many are still skeptical about the future of the blogging service.

The fact is that the acquisition of Tumblr is aimed at giving Yahoo Inc. a social media platform to reach young people as they are the future and well-being of all companies. Indeed, the company has been doing whatever it takes to mod-

ernize its brand and lure a younger generation as this would bring it higher ads revenue. As it has been underlined by Yahoo CEO Marissa Mayer, the confluence of Yahoo and Tumblr forms a real giant with staggering one billion users.

She noted: “Tumblr in terms of users and traffic is an immediate growth story for us.”

The fact is that we will have to wait to see the results of the acquisition of Tumblr. Undeniably, under the reign of Marissa Mayer, there have been made some so-called talent acquisitions. But the guarantee of the independence of Tumblr over the next four years means that the blogging service will not share the kismet of many other apps which were closed after the acquisitions.

We should, however, expect that at some level Yahoo Inc. will try to assimilate Tumblr with the rest of the company as post-acquisition integration is nothing new to the Internet giant. The question is when the process is going to be conducted and with what result.

Marissa Mayer appears to be operating off of Google’s innovation-throughacquisition playbook. At Google, postacquisition integration is a well-honed process.

Google has a core integration team that assimilates the acquired talent with the rest of the company. They ensure that the proper resources are available, transfer intangible assets such as patents and contracts, and collaborate with the new managers as they adjust to life at Google.

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Business in

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Amsterd

Industry Leaders Magazine

Better Business Destination

dam is

smoking good -Jason Miller

“In Europe, I always have fun bike riding in Amsterdam.�

Ezra Koenig Industry Leaders Magazine

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Amsterdam,

the small city with the big heart, might surprise you, but the fact is that it is the better business destination. The capital city of the Netherlands, which was one of the founding members of the European Union, is a place to do business. Simply, business in Amsterdam is smoking good - nothing to sneeze at as it just offers a prime location and its ports give one easy access to all key European markets.

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Amsterdam vs. Rankings Rankings of best cities to do business are very popular and nothing strange that cities, which are acknowledged by various institutions, just boast about it.

The same rule applies to Amsterdam which has found its place in different rankings for many years. The simple fact is that Amsterdam, the better business destination, is usually positioned in the Europe’s top five best cities to do business.

Back in 2010, when global property consultant placed Amsterdam at the fourth place in its European cities comparison, Willem Bastijn, managing director at C&W in Amsterdam itself, underlined: “Despite the uncertain economic times, international corporates still perceive Amsterdam to be a business city which provides enough stability to expand into.

Amsterdam has risen two positions from 6th to 4th ranking, most likely due to the strong fundamentals that the city has always offered, such as a diverse occupiers market, steady political environment and international orientation.�

Analysts note that Amsterdam is viewed as almost as attractive to business as London,

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Better Business Destination

Indeed, this small city with the big heart offers its residents spirit, safety and warmth. Amsterdam knows its history and ties with business and no wonder that the better business destination strives to revitalize itself and turn into a more business-friendly city. Thus it is not so surprising that Amsterdam is said to be the better business destination.

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Paris and Frankfurt due to availability of highly-skilled employees, easy access to markets and other factors. Undeniably, Amsterdam is much appreciated by companies as its reputation as the business city is incredibly strong what various surveys show.

All its strengths are widely valued by companies and institutions.

This shows that a city does not have to be big, to be appreciated and seen as the better business destination. Indeed, the small city with the big heart is a place to do business.

Amsterdam offers not only tulips Certainly, Amsterdam is so much attractive to companies as the country lures waverers with its 10 percent tax rate for non residents and foreign companies as well.

The country’s and municipal authorities are strongly convinced that this low tax rate would be seductive. And indeed, it seems that a confluence of the low tax rate, good transportation and communication with expanding airport and seaport, is knockout gorgeous.

But the fact is that Amsterdam, the better business destination, also is known for its

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Better Business Destination highly-skilled workforce as most of its residents speak at least two languages, not including Dutch. According to the findings of the survey, as much as 80 percent of Amsterdammers speak English! In addition, 40 percent have a university degree or higher professional education.

Also its stable economic and political climates weight in favor of Amsterdam as the city simply provides secure environment for conducting businesses. No wonder that companies like IBM Corp., Sony Corp., Phillips, ING and Shell are present in the small city with the big heart.

You might be surprised if you are not a very big fan of history but the world’s first ever stock exchange was founded in Amsterdam itself, making the city a significant player in the financial sector which employs approximately 10 percent of the city’s workforce. Indeed, in Amsterdam you can find more than 70 worldwide banks! Thus Amsterdam, the better business destination, is also known as an important financial service center.

Fortunately, Amsterdam, the better business destination, is home to other sectors, jut to mention fashion, beer (famous green-bottled Heineken) and

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legendary tulips. Indeed, these beautiful flowers, which are typical for the Netherlands and in fact the country is mainly famous for them, account for as much as 70 percent of Amsterdam’s exports.

No wonder that some may call Amsterdam “the city of tulips.”

Just please do not think that Amsterdam can glory only in its beer and tulip industry as computing, telecommunication and biotechnology industries are also strongly present in this better business destination. We should not forget about tourist business as the small city with big heart is arguably attractive and it lures adventuresome people who want to either try to do business here or taste the city’s relish even once in the lifetime. According to figures, Amsterdam sees around 5 million people visiting it per year.

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With the international airport, which is one of the busiest in Europe, Amsterdam provides countless routes to major economic destinations in the world.

Business in Amsterdam All values and qualities offered by Amsterdam make it the better business destination and simply a place to do business. Unquestionably, as the Netherlands is in the European Union, one might be sure that unexpected surprises will not jump out from the magic hat.

Indeed, the European Union secures the basic rights and provides businesses with some kind of political stability.

The business etiquette is similar to the “Western one”, just you should keep in mind to be punctual.

Cities similar to Amsterdam with a reputable airport and seaport are really

Industry Leaders Magazine

Amsterdam has everything what a city needs to become the better business destination, including favorable tax climate, stable business and political climate, wide choice of service providers, highly-skilled human capital, excellent location, developed infrastructure and telecommunication, access to markets and many more.

Needless to say, Indian and Chinese companies appreciate Amsterdam and see its strong points, thus you can find many Asian companies in this better business destination. This high popularity of Amsterdam among Asian companies only confirms the fact that it is a

place to do business.

Of course Amsterdam is not the land of milk and honey as also companies will face some problems, including all red-tape problems while employing or firing an employee, but without a doubt the city is worth a sin.

And when as a businessman or businesswoman you are just simply get tired of all the nonsense, you can just simply take a ride on bicycle in Amsterdam to feel the wind in your hair.

Amsterdam is unique with all its attractions and strengths. And it seems that even the outbreak of the global financial crisis has not changed the fact that Amsterdam is described as the better business destination and a place to do business even on bicycle. Undeniably, business in Amsterdam is smoking good!

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Better Business Destination

unheard-of and the fact is that it is hard to find a second place just like it in Europe. Thus Amsterdam, the better business destination, is without a doubt one of the best places for companies with a specific flow of goods. This kind of companies should be even more encouraged to set up business in Amsterdam if they take into account the AirportSeaport which certainly facilitates the all operations.

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HeavenlyH

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ARGER Than LIFE

HotelS uites -Jennifer Morgan

“I like being on the road, living in hotels. While I’ve got a real nice house, I go crazy when I’m there.”

-Tommy Shaw Industry Leaders Magazine

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Summer is coming and probably your are just thinking where to go.

Indeed, the most expensive hotel suites, which are simply heavenly, will give you the unforgettable experience of luxury and opulence, yet you will have to spend big money.

If you desire to have some out-of-thebox experience in matter of money, below you will find something that might interest you.

But if you are one of lucky beggars who can pay staggering sums for a night at the verrry luxurious hotel and have the same taste as David Boreanaz who said: “I’ve just always liked hotels. I like the bed and the sheets and everything that comes along with it,” you should look at the below heavenly hotels suites which are the most expensive in the world.

The fact is that some of us just love luxury and nothing is better to show off your love for lavishness by spending thousands on a hotel suite where you will spend one or couple of days.

Some of us, mortals, can take advan-

tage of the heavenly hotel suites that will blow a mind of average Joes. But maybe you are like Tommy Shaw who said: “I like being on the road, living in hotels. While I’ve got a real nice house, I go crazy when I’m there.”

So if you have a full pocket, you do not have to worry about the bank balance and you just want to live like a lord, maybe you will consider the below heavenly hotel suites.

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Royal Penthouse Suite, Hotel President Wilson, Geneva $65,000 per night Nowhere else you will live like a lord paying for that staggering $65,000 per night, just at the Hotel President Wilson - for the famous Royal Penthouse Suite. For some it is not an exorbitant sum, taking into account that this heavenly hotel suite, or simply a penthouse,

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ARGER Than LIFE

overlooks breathtaking Lake Geneva and proud Mont Blanc.

With blowing $65,000 per night to stay at the Royal Penthouse Suite at the President Wilson Hotel, you might be sure to obtain a royal treatment with the high standard security measures, just to mention bulletproof doors and windows.

This heavenly suite occupies the entire

top floor of the President Wilson Hotel and it has astonishing 1,200 square meters. It may come as no surprise that the most expensive hotel suite in the world can glory in a private elevator which gives the comfort of privacy to its residents.

Guests have also a wide range of choice when it comes to rooms as the Roy-

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al Penthouse Suite has as many as 12 rooms (sic!). If you decide to go for it, you will be able to use a Steinway grand piano, not to mention that you will have a chance to take advantage of the fitness center and many more luxurious attractions.

All guests of this heavenly suite who want to have a few close friends to visit will have enough space to do that as the Royal Penthouse Suite has a cocktail lounge room for 40 people. This is a really perfect place to have a small cocktail party with the view of spectacular Mount Blanc.

So it seems that the sum of $65,000 is not too exorbitant for this level of luxury and security. You will be able to relax

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and simply let yourself go.

Presidential Suite, The Raj Palace Hotel, Jaipur $45,000 per night India is known for its super-rich people, fondness for gold and one of the most expensive suites in the world which can be found at the Raj Palace Hotel in Jaipur. On the 1,500 square meters, for which you while have to spend whooping $45,000 per night, you will find everything you need to feel that you live in a fairy tale.

The interior of the Presidential Suite at the Raj Palace Hotel is the exquisite example of the fine and fabulous Indian style saturated with the ubiquitous pres-

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ARGER Than LIFE

ence of gold. Indeed, apart from gold, this four-floor heavenly hotel suite will enchant you with its decoration replete with gold leaf, ivory and mirror masterpieces which have this inimitable style.

Not only will you be able to immerge yourself in the golden reality of the Indian opulence, but you will be able to freely use the suite’s private museum.

Not surprisingly, the Presidential Suite at the Raj Palace Hotel also offers you illustrious views of the Pink City and a private roof terrace where you will be able to breathe the bewitching atmosphere of Rajasthan.

Royal Villa, Grand Resort Lagonissi, Athens $45,000 per night Surprisingly, Athens is home to one of the most expensive hotel suites in the world. Compared to the two first, Royal Villa at the Grand Resort Lagonissi is more modest when it comes to the square footage as it only has around 410 square meters.

Nonetheless, it can glory in personal outdoor poor with a view of the Aege-

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an Sea, not to mention that it has also 47 square meters indoor heated pool.

Its contemporary design and decoration features will simply cast a spell on you.

All what is offered by the Royal Villa will make you want to come back as this heavenly suite really offers a place to relax even if you have to work.

Ty Warner Penthouse Suite, Four Seasons Hotel, New York $41,000 per night The Ty Warner Penthouse Suite at the Four Seasons Hotel in New York has also found its place on the list of the heavenly hotel suites which at the same time are the most expensive in the world. New York has much to offer, so does the Ty Warner Penthouse.

This 400-square-meter heavenly hotel suite gives its quests unforgettable

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ARGER Than LIFE

view of famous Manhattan. Remember words of Jurgen Habermas who once noted: “Manhattan... capital of the 20th century, a city that has fascinated me for more than three decades.�

The view is really breathtaking as the Ty Warner Penthouse is located at the top floor (52nd) of the world-known hotel.

The interior of the nine-room heavenly suite was designed by Peter Marino and it simply delights one with its fabrics woven with platinum and gold, giving a feeling of ubiquitous luxury.

If you are ready to pay staggering $41,000 per night to stay at the Ty Warner Penthouse Suite, which takes pride in its 360-degree view of the Manhattan skyline, you will be able to take advantage of services of a personal butler or use a chauffeur-driven Rolls Royce

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as well. After all, the sum does not look so exorbitant, taking into account what you will get for paying $41,000.

ARGER Than LIFE

Penthouse Suite, Hotel Martinez, Cannes Heavenly suites far from $37,500 per night hustle & bustle Cannes also can take pride in one of the most expensive hotel suites. The Penthouse Suite at the Hotel Martinez is indeed heavenly and it has hosted many VIP guests as Cannes is known for its film festival.

The Penthouse Suite at the Hotel Martinez might look very modest when compared with other heavenly suites from the list as it has barely two bedrooms, a lounge room and dining room – but who does not have the appetite for the high life which was experienced by some of the most famous of the contemporary times? Yet it can enchant one with its huge terrace with the view of the eminent Bay of Cannes. For someone who is the big fan of deco decor, this heavenly hotel suite might be perfect.

If still you are not in love with any of the aforementioned heavenly hotels suites as they are located simply in cities, you can find some other daisies which can be found far from the hustle and bustle of big cities.

Just imagine yourself on the island in a beautiful hut which will give you as luxurious experiences as the most expensive hotel suites in the world. It is possible, just take a map and look where you want to go. Look for luxury in places located far from the noise of the contemporary word where you can enjoy luxury, opulence and silence at the same time. You will be surprised how many of them offer their guests ultimate experience of heaven and luxury.

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Italian Eni SpA

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success story

A on a global oil trail

“In Italian there is an expression: We don’t sleep on the fame.”

-Donatella Versace Industry Leaders Magazine

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Eni SpA,

the Italian energy company which once was called as the ‘jewel in the crown’, has ventured far out into Asian Pacific region to sign a deal with the local Vietnamese national government to explore hydrocarbons. Eni SpA is a Top-10 Oil and Natural Gas company in the world with $65 billion revenues. It focuses on the “Exploration and production, Gas and Power as well as Refining and Marketing” core businesses.

The energy giant has traversed a long history of struggle, changes, diversification and consolidation continuing to represent the classic characteristics of an aged-old Italian company morphing to meet global demands and needs. This is the saga of Eni SpA - a true global company that goes by its Italian roots.

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The Italian Saga

success story

Begun in the 1920s by the then Italian government as Azienda Generale Italiana Pertoli (AGIP) to explore oil and natural gas across the country, it stood the test of time during the Second World War and was eventually restructured as ENI under Enrico Mattei with Agip remaining a core business area.

Through the 1950’s, the today’s giant moved from being a purely a government-owned company to establish its monopoly in all areas of exploration and production of oil and natural gas in Italy.

Next, in 1975, Eni SpA expanded rapidly eating-up several companies that were owned by the state, but were struggling to make profits.

Its next milestone was 1992 when the

company was partially privatized and saw major restructuring, downsizing as well as selling-off assets. Later that decade in 1995, the company also saw its arrival on the New York Stock Exchange as well as the Italian browser Borsa Italiana. 1998 was a land mark year in Eni SpA history as the Italian government made all efforts to drop its stake to just 38 percent in the company.

Then began the acquisition spree: 2000- United Kingdom’s British Borneo, 2001- Lasmo; 2002 saw it acquire 50 percent of natural gas business from Union Fenosa and further diversification acquiring petrochemicals and other

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industries.

Over the years, Eni SpA has adopted a multi-pronged approach to expand its portfolio as well as to build greater product range in its business.

Venice Retro adventure In November 2012, the company announced that it will work in partnership with UOP LLC, a Honeywell Company, to begin production of renewable diesel.

The technology used for the production was Honeywell’s Eni Ecofining process and operational in famous Venice.

ENI SpA venture into eco-friendly processes in an environment that was challenging within the European structure was hugely commendable. The company made a responsible decision to introduce an innovative product range – renewable fuel- centered at its Venice facility.

The approach adopted was to use the existing infrastructure of the facility and to retrofit it to produce petroleum-based diesel. In turn, this was used as the base to produce renewable diesel.

The highlight of this venture was the UOP/ENI Ecofining process. A proud Vice President and general manager of Honeywell’s UOP renewable energy /chemical business, Jim Rekoske, believed that the project entirely demonstrated to the world that the process and technology adopted to refine were flexible.

The process allowed Eni SpA to produce ‘drop-in’ fuel for end-users and at the same time allowed refineries to optimize their infrastructure and modify them to produce renewable fuel that remained cost-effective.

This was one of the several ventures Eni SpA adopted to comply with the European Union’s mandate to improve availability and reliance on alternative renewable energy sources.

The move to produce biofuel actually helped Eni SpA to convert its unused as-

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success story

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sets and thereby contributed to the local emission regulations as well. By 2014, Eni SpA is expected to produce 100 MMgy of renewable diesel at its Venice facility.

ship of nearly 20-percent in the oil major’s South African assets, Eni Mozambique. Interestingly, this follows news of discovery of nearly 75 trillion cubic feet of gas in Area 4 of Mozambique.

This venture by Eni SpA has ensured that it stays true to its Italian roots. By revitalizing its Venice facility, it has contributed significantly to the job creation and at the same time delivered on its leadership in the oil and renewable energy production by adopting the UOP/ Ecofining process.

Industry analysts believe that Mozambique has nearly 250 trillion cubic feet as reserves and the government needs more than $50 billion in investments to nurture this find. Meanwhile, a neighboring area called Area 1, which is owned

by Andarko and Videocon Industries, is reportedly for sale. It is expected that between the two companies, Videocon may sell its entire stake of 10 percent, while Anadarko, which is actually the operator of the block, will lower its stake percent from approximately 36.5 per-

CNPC eyes Eni overseas assets China’s National Petroleum Corp (CNPC) as of March 2013, has indirect owner-

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success story

cent to around 26.5 percent.

downstream sectors.

Eni SpA though sold as much as 28.57 percent of its shares in Mozambique Area 4 prospect to CNPC, retains still 50 percent of the ownership. The CNPC share is at 20 percent. Eni SpA believes that this was a strategic move as CNPC already has a global relevance and offers vast access to upstream as well as

However, Eni SpA remains focused on exploring the sub-Saharan areas in the next three fiscals ending 2016. According to Eni SpA, the Mozambique offers unlimited potential for discovery of gas and has estimated reserves to the tune of 1.974 billion cubic meters of gas. This will also open the Asian markets for Eni

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SpA products.

Vietnamese venture The new contract with Vietnam will include exploration in 3 blocks located along Gulf of Tonkin, in the Song Hong basin. Though an unconventional product to explore, Eni SpA has high hopes running on this deal. The region is known

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to have nearly 10 percent of the all resources for hydrocarbon in the country.

The Vietnamese deal seals Eni SpA’s global presence as it continues to expand to other regions including Indonesia, Australia and Pakistan.

The Italian oil and natural gas major has come a long way from its humble beginnings of nearly a century. Today,

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success story

it owns companies such as: “American Agip Company, Inc. (U.S.A.); Eni Lasmo PLC (U.K.); Italgas - Società Italiana per il Gas S.p.A.; Società Azionaria per la Condotta di Acque Potabili S.p.A.; Saipem S.p.A.; Sonsub Inc.; Snam Rete Gas S.p.A.” and is a major challenge for oil companies on both sides of the continent, be it Exxon Mobil Corp, Shell

Transport, Royal Dutch/Shell Group of Sumitomo Corporation. But it seems that Eni SpA is moving in good direction as it aims high and simply wants to expand, being faithful to its traditions and origins.

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ENERGY

Australian Gas Technology Conference & Exhibition 2013

Date: 01 - 03 July,

Australian Gas Technology Conference & Exhibition offers an absolute place for the gas processing and construction department. The exhibition focuses on the development of the LNG industry and supports them to achieve great success Venue: Perth, Australia Indo Renergy Date: 03 - 05 July, 2013 Indo Renergy 2013 is the most significant event in the area of energy efficiency and renewable energy sources. Indo Renergy, The main aim of the event will be to attract public attention to the practical benefits from RES and the deffernt means to save energy Venue: Jakarta, Indonesia Wind Power China

Date: 03 - 05 July, 2013

Wind Power Shanghai is China’s premier wind energy industry event. It provides a unique forum and exhibition where speakers can meet, share information, exhibit products and ensure that wind power continues to establish itself as one of the China’s mainstream energy resources Venue: Beijing, China Intersolar North America

Date: 09 - 11 July, 2013

Intersolar North America 2013 is regarded as the largest solar exhibition in North America. The event will focus on several key issues which include photovoltaic systems, solar thermal systems, solar heating systems, biomass, pellets and pellet, wood chips, wood chips and wood heating systems, combined heat and power and cogeneration plants, heat pumps, geothermal, services any other key issues related to solar energies Venue: San Francisco, United States Of America The Wind Energy Expo And Conference

Date: 10 - 12 July, 2013

The Wind Energy Expo And Conference is going to be an event where topics and issues that are related to wind energy will be given preference and will be brought under the limelight. The main focus of this event is about the latest developments and progress made in the field along with discussing about the various strategies and techniques being used in the field Venue: Buenos Aires, Argentina EnerSolar+ Brasil

Date: 17 - 19 July, 2013

EnerSolar Brasil aims to contribute to the growth of the photovoltaic and concentrating solar industry of Brazil. This event will provide one with business opportunities in the entire range of the Brazilian and South American solar industry Venue: Sao Paulo, Brazil

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Event & Tradeshow MANUFACTURING

Food Technology Show - Hyderabad

Date: 05 - 08 July, 2013

Food Technology Show - Hyderabad provides a one-stop shop for its visitors who expect to see companies involved in food & drink technology, quality assurance, packaging, management systems, production and process engineering, retail solutions, purchasing, hygiene and food safety, laboratory equipment, food machinery, staff recruitment as well as research and development Venue: Hyderabad, India Yantai International Wine Exposition

Date: 05 - 07 July, 2013

Yantai International Wine Exposition will be a major show, which will exhibit the various sectors of the wine industry. The prestigious show, which will be held in Yantai, will be participated by the leading wineries Venue: Yantai, China The Seriously Good Food Show

Date: 06 - 07 July, 2013

The Seriously Good Food Show will be the demand of modern society where good and innovative foods get prime attention and attendees will get insight about regional and international foods to satisfy their taste buds Venue: Mt. Maunganui, New Zealand China Hangzhou International Wine & Spirits Expo Date: 18 - 20 July, 2013 China Hangzhou International Wine & Spirits Expo will take place in Hangzhou, China for a period of three days. This international expo will prove to be advantageous for the wine and wine enthusiast as they can a have a direct conversation with the winery representatives Venue: Hangzhou, China Coffee & Chocolate Expo Date: 19 - 21 July, 2013 Coffee and Chocolate Expo is going to be held in Turbine Hall, New Town Johannesburg for three days. This event is all about the coffee industry and advances made. This event is allows exhibitors to target a large segment of the market and sell directly to the market their quality products and base services Venue: Johannesburg, South Africa Foodservice Conference & Exposition

Date: 26 - 28 July, 2013

Foodservice Conference & Exposition will introduce new Products Research shows where attendees can know about latest foodservice industries. There will be new and innovative food and beverage products Venue: Monterey, United States Of America

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CONSTRUCTION

Weld Tech Vietnam

Date: 02 - 05 July, 2013

Weld Tech Vietnam is a premier exhibition catering to the professionals who work in the sectors of welding, surface treatment and joining technology. The exhibition will be a meeting place for some of the leading manufacturers and suppliers of welding and joining equipment to interact with the visitors and deal in prospective business deals.

Venue: Ho Chi Minh City, Vietnam Expo Arcon Date: 03 - 05 July, 2013 Expo Arcon is an industrial fair that is going to be organized in Lima, Peru for three consecutive days. This international public affair will grow the expansion and advancement of various industrial sectors related to the field of building and construction industry Venue: Lima, Peru Build Tech Infra Expo

Date: 05 - 07 July, 2013

Build Tech Infra Expo is going to be held for a period of three days in Patna, India.

This is a must attend event for the Consulting Engineers, Structural Engineers, Architects, Civil Contractors, Electrical Contractors and Engineers, Interior Designers, Builders and Developers Venue: Patna, India Southeast Building Conference

Date: 11 - 13 July, 2013

Southeast Building Conference is going to be an important event which is going to take place for a period of three consecutive days and the venue is in Orlando, Florida. This event can be stated as the only building industry trade show located in the Southeast United States Venue: Orlando, United States Of America Construfair Date: 25 - 28 July, 2013 Construfair will be one of the outstanding exhibitions that will be distributing best featured displays of machineries and construction equipments of the region. The exhibition is going to provide different seminars and demonstrations on the latest technologies of the construction and buildings Venue: Caxias Do Sul, Brazil

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Event & Tradeshow SUPPLY CHAIN

Transposul

Date: 03 - 05 July, 2013

Transposul will be held for a period of three days in Porto Alegre, Brazil. This international expo will be attended by eminent experts related to logistics and transportation industry. By attending this expo these experts will get an opportunity to share their expertise with the attendees Venue: Porto Alegre, Brazil MSIA-PACK Date: 04 - 07 July, 2013 Malaysia International Machinery Fair MSIA-PACK will showcase all the latest products and accessories for packaging industry under single roof at the Putra World Trade Centre (PWTC). This event will be held along with Asean-Plas, Asean-Print and Asean-Sign which is being organized by ES Event Management Sdn Venue: Kuala Lumpur, Malaysia PackPlus South

Date: 05 - 08 July, 2013

PackPlus South 2013 will be held at HITEX International Exhibition centre, Hyderabad for four consecutive days. This show will attract professionals from packaging, processing, converting and supply chain industries to discuss about the latest developments related to these industries Venue: Hyderabad, India Print & Pack Date: 18 - 20 July, 2013 To offer more perfection for your higher production efficiency development and business competitiveness advancement, Print & Pack-Vietnam is born under the concept Surpass Your Success on the World Stage, and has featured a great number of the hottest innovations and latest technologies in a comprehensive range of exhibit zones Venue: Ho Chi Minh City, Vietnam

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Event & Tradeshow FOOD & BEVERAGES

Dairy Deli Bake Seminar & Expo New Orleans

Date: 02 - 04 June, 2013

Dairy Deli Bake Seminar & Expo New Orleans will help a number of enthusiastic exhibitors to display their innovative products with the help of 1500 exhibition booths present in the event. With the help of industry professionals and speakers, this event will conduct various seminars and expos and focus deeply on the food sector of Los Angeles region, thereby proving to be an ideal platform for networking and exchanging strategic information to promote the entire industry in the international market Venue: Orlando, United States Of America ALIMENTARIA MEXICO

Date: 04 - 06 June, 2013

Alimentaria Mexico will invite large number of traders/buyers from different countries; the traders in 2010 were majorly from Guatemala, Colombia, Spain and Poland. The various products which were showcased at the event include dairy products, sweets, cakes and bread, fruits and vegetables, meat and sausages, seafood, canned and frozen foods, nonalcoholic beverages, liquors and wines Venue: Mexico, Mexico Taste Of Amsterdam

Date: 06 - 09 June, 2013

Taste Of Amsterdam will be held for a period of four days in Amsterdam, The Netherlands. This international will prove to be beneficial for the food lover of the contemporary times. They will get an opportunity to have a face to face interaction and communication with the producers and suppliers of various kinds of food items and beverages Venue: Amsterdam, The Netherlands The Fine Cheese Festival

Date: 13 - 16 June, 2013

The Fine Cheese Festival has the unique distinction of being one of the most wellattended cheese sector trade events in the world. The event registered heavy footfall counts in its first edition itself and looks set to emerge as one of the most noteworthy events related to this industry Venue: Victoriaville, Canada Whisky Live Melbourne

Date: 14 - 15 June, 2013

Whisky Live Melbourne will have participations from large number of national as well as international exhibitors and it is expected that the companies will definitely get a wonderful platform to showcase about 450 varieties of whiskies Venue: Melbourne, Australia

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Industry Leaders Magazine