Corporate Vision August 2017

CORPORATE VISION / August 2017 9 NEWS , The $1.25 billion sale to Schneider Electric allows Vertiv to apply additional resources toward business and technological advancements in its core data centre, telecommunica- tions and commercial and indus- trial markets. As Vertiv has repositioned itself after being sold to Platinum Equi- ty in November 2016, it became clear that ASCO’s strengths in the automatic transfer switch arena fell outside the new organization’s more focused strategy, said Vertiv CEO Rob Johnson. “This sale is a significant step forward in our evolution as the premier provider of digital critical infrastructure solutions,” Johnson said. “This is consistent with our strategy of focusing on our cus- tomers and aligning the strengths of our organisation - deep do- main knowledge in IT and facili- ties applications, global scale and service coverage - to better meet their needs.” Platinum Equity Partner Jacob Kotzubei praised Vertiv’s pro- gress: “Thanks to strong lead- ership and the commitment of Vertiv employees around the world, the company is performing exceptionally well and the trans- formation of the business is right on track,” said Mr. Kotzubei. “The sale of ASCO will further support those efforts and help Vertiv con- tinue focusing on its core busi- ness. Given the amount of cash proceeds expected to be generat- ed from the sale, we will evaluate several capital structure alterna- tives that would be beneficial to all stakeholders.” The sale price of $1.25 billion re- flects a multiple of 11.7x adjusted EBITDA for CY2016. The sale is subject to customary regulato- ry approvals and is expected to close by Q4 2017. For more information, visit www. vertivco.com Vertiv Sells ASCO® to Schneider Electric The survey findings represent more than 900 respondents, over half of whom were senior managers or directors. 48% of respondents said their training programmes were maturing – meaning they have a basic plan for the year that covers risk and role-based topic assignments. Effectiveness measures for these programmes are limited to completion rates and qualitative feedback. Another 10% of respondents said their programmes were advanced – meaning they have a sophisticated multiyear training plan that covers a variety of top- ics assigned to specific audienc- es based on need and risk profile that includes live and eLearning, short-form and long-form courses and a variety of engaging for- mats. These programmes also have a disciplined approach to reporting and measuring training effectiveness that focuses on training outcomes. Larger organisations were more likely to have mature or advanced programmes. “Making an investment in employee training can be a significant expenditure for organ- isations,” Fredeen said. “But as this year’s results show, without the investment, efforts can be wasted because the programme is not effective or supportive and employees can become disengaged.” Echoing previous year’s results, training at the highest levels con- tinues to be a potential problem spot. 36% of respondents said their organisations don’t provide ethics and compliance training to their boards – and another 21% said they didn’t know whether they did. Additionally, just 25% of organisations train their boards on cybersecurity. But survey respondents are clearly concerned about com- plying with laws and regulations, likely influenced by recent corpo- rate scandals and cyber-attacks. The order of the top two training objectives identified by respond- ents flipped this year compared with 2017, with complying with laws and regulations edging out creating a culture of ethics and respect for the spot. Vertiv, formerly EmersonNetwork Power, on July 27 announced plans to sell its ASCO® business as it continues to sharpen its focus on the digital critical infrastructure space. “Those two objectives are usually atop the list, but the switch in order this year is likely a result of people thinking differently about the need for training pro- grammes,” Fredeen said. “Some organisations could be wonder- ing what is under a rock today that could go public tomorrow.” Many respondents (about a third to half) indicated that they were unsure what outcomes their ethics and compliance training programme has achieved, as few attempts to demonstrate a return on investment. Analysis suggests that organisations with sufficient budget (mainly ones at an advanced stage of maturity) experience lower employee turn- over. However, about a quarter of organisations don’t have a dedicated budget for ethics and compliance training, like the 2016 findings. “That’s a troubling finding, one that’s shared equally across or- ganisations of all sizes,” Fredeen said. “The difficulty in showing return on investment and effec- tiveness, of course, ties back into a lack of dedicated budgets. Dedicated budgets also ensure predictability and allows for long- term planning – especially in an environment in which compliance professionals are regularly asked to do more with less.” Other key findings include: • Organisations define a cul- ture of ethics and respect in various ways; the two most common definitions highlight a culture that creates a workplace that encourages people to speak openly and aligns with regulatory requirements; • Just 41% of respondents said they provide training on cybersecurity, a surprising finding given the regular ap- pearance of cyber breaches in the news and; • Just 43% provide training on speaking up and reporting/ anti-retaliation. To download NAVEX Global’s Ethics & Compliance Training Benchmark Report, please visit: trust.navexglobal.com/2017-Train- ing-Benchmark-Report_Download. html?utm_source=072717&utm_ medium=pr&utm_campaign=2017- olt-br