In February 202, we welcomed Frederick D. Ong as our new President and Chief Executive Officer. With over 25 years in senior leadership roles, Fred has led PCPPI through one of the most trying circumstances in our corporate history. Thi leadership transition was pivotal in demonstrating the resilience of Bravehearts. It was likewise an opportune time to pause and take stock, to give us a clearer view of our position before we forged forward.
Despite the global pandemic adversely affecting our business, PCPPI decide to bold steer toward a different direction. When most enterprises are shifting to lower gear and slowing down, we stepped on the gas and embarked on a long-term transformation that will carry us through beyond COVID-19
We started this by revisiting and refining what PCPPI stands for. We articulated our new vision to be the leading beverage company in the Philippines.
Our mission is to drive sustainable and profitable growth by providing a wide range of quality beverages to our customers, creating superior value for our shareholders and business partners, building careers for our employees, and nurturing our communities and the environment.
And our refocused values are innovation, integrity. Care and Respect, Empowering and Excellence (ICARE).
Our newly defined vision mission and values will be our guide to keeps us on track in pursuing our big aspirations.
This was followed by a change in ownership structure. In September, following the tender offer conducted by Lotte Chilsung Beverage Co. Ltd. our Board of Directors approved our voluntary delisting from the Philippine Stock Exchange (PSE) in accordance with applicable rules. We believe this development enables the company to pursue a new level of growth trajectoy.
Leading with resolve in the time of COVID-19
At this time last year, None of us knew what the course of COVID-19 would be. But I was confident that our management team would lead with purpose and compassion, and the safety of our people would be our number one priority. I am proud to say that this has been the case no one in our entire team was let go. We can continue to do our best to work with our people to overcome this crisis with greater resilience.
Today, The pandemic is clearly far from over and its corrosive impact on the lives and livelihood of our people, on business confidence, and our economy has left a big change in the strategic direction of out company. All this considered, I believe we have to navigate through their challenges with a sense of urgency and forethought, purpose and hope, pride and ambition.
This report will show how action, both big and small, has pushed the company to position our business in a post-pandemic world, and to set the foundations we need for long-term productivity, profitability, and sustainability.
I am truly grateful for the tireless dedication of our people, the constant trust of our shareholders, our customers, our management, and the guidance of our fellow Directors. With collective tenacity and commitment, I am confident that we will rebuild our momentum with a strong sense of purpose and enthusiasm and that our best years remain ahead of us.