Speaker 1: The granddaddy of all Silicon Valley startups is Hewlett Packard.
Speaker 1: It would start in a garage in nineteen thirty nine,
Speaker 1: but in twenty fifteen it's split into two separate companies,
Speaker 1: Heulett Packard Enterprises and HP Inc. Recently, at the Economic
Speaker 1: Club of Washington, I sat down with Enrique Loris to
Speaker 1: talk about how he's led the successful personal computer and
Speaker 1: printing company following the split. So which company is better,
Speaker 1: Hewlett Packard Enterprises or HP Inc.
Speaker 2: So, as you can imagine, I have a very unbiassed view,
Speaker 2: and I have say, of course, HP Inc. Is not
Speaker 2: only that we do printers and PCs.
Speaker 3: We think we.
Speaker 2: Are the company that can enable a more flexible way
Speaker 2: of working, to make employees productive, to make employees engaged,
Speaker 2: and this is what we stand for.
Speaker 1: So, but their main business is today is computers and
Speaker 1: so much and printers that their main businesses. Right, So
Speaker 1: I can tell from your accent you're not from Baltimore
Speaker 1: or Washington, DCA.
Speaker 4: Where did you grow up?
Speaker 3: I can't say you're very astute.
Speaker 2: So you're really detecting that I'm not from the US
Speaker 2: is very difficult, I know.
Speaker 3: But yeah, originally from Spain.
Speaker 4: I okay, so you grew up in Spain.
Speaker 3: I grew up in Spain.
Speaker 1: Now, how many companies in Silicon Valley are run by
Speaker 1: people who were born in Spain?
Speaker 4: One one? So all right, so you're born in Spain.
Speaker 1: Did you say I want to run HP someday or
Speaker 1: what it was your aspiration as a young boy in Spain.
Speaker 2: No, it was not my inspiration to tufront a company
Speaker 2: like HP. I joined HP as an intern in nineteen
Speaker 2: eighty nine, so I have worked for the company for
Speaker 2: a very long time. When I was studying, there was
Speaker 2: a group of HP engineers that came to my university
Speaker 2: in Spain, in Valencia, and they explain what it took
Speaker 2: to develop a printer, was where it was when printers
Speaker 2: were starting to be created, and I was amazed by
Speaker 2: both the technology complexity but also by the passion these
Speaker 2: people showed about the printer, And in fact, I was thinking,
Speaker 2: how can someone feel passion for something so strange.
Speaker 3: I have to say though, that thirty.
Speaker 2: Four years later, I have more passion for printers than
Speaker 2: these people had. So I have learned and I have
Speaker 2: been converted to the religion.
Speaker 1: Okay, so you went to college in Spain and you
Speaker 1: got an MBA or an engineering degree.
Speaker 3: I got an engineering degree first.
Speaker 1: Okay, so you're electrical engineer. You moved to Slicon Valley.
Speaker 1: Where'd you move to?
Speaker 3: No?
Speaker 2: Actually, the full story was I got this opportunity to
Speaker 2: work as an interne in HP, and it was I
Speaker 2: had the opportunity to go to San Diego. So we
Speaker 2: went to San Diego for the summer, and when the
Speaker 2: internship was finishing, HP was opening an Rande Center in
Speaker 2: Spain in Barcelona. So they told me, you're from Spain,
Speaker 2: we are creating this new Errandi center you might be
Speaker 2: interested in And I said that at point, yea, maybe
Speaker 2: for a couple of years, because we were living a
Speaker 2: different city, and in Spain you don't change cities.
Speaker 3: You grew up in.
Speaker 2: You are born in one place, you go to school
Speaker 2: in one place, and you build you live all your
Speaker 2: life there. So we said, oh, for a couple of years,
Speaker 2: would be nice to go to Barcelona. Thirty five years
Speaker 2: later we never came back. We went to Barcelona. Sometime
Speaker 2: later we came to the US and here.
Speaker 1: We How long did it take after the split occurred
Speaker 1: in twenty fifteen for you to become the CEO.
Speaker 4: What were you doing before he became COO?
Speaker 2: Before I became CEO, I led the separation of the company.
Speaker 2: So when Meg, or the CEO, decided to split the company,
Speaker 2: we created what we called a separation office and there
Speaker 2: were two leaders, one from HPE and the other one
Speaker 2: for Hilopap Enterprise, one for HPING.
Speaker 3: I led a separation from my side.
Speaker 2: In fact, when I was asked to lead a separation,
Speaker 2: my immediate response was no, I don't want to do that.
Speaker 2: And then Meg, that was make Witnan, that was a
Speaker 2: CEO at that point. After a few days, a weekend,
Speaker 2: she called me home and said, and Rica, I need
Speaker 2: to talk to you. So I went to her home
Speaker 2: and she said, I know you don't want to do that.
Speaker 2: This is the opportunity of your career. You're going to
Speaker 2: learn things you will never forget. You should be taking
Speaker 2: different and when the CEO calls you to her home
Speaker 2: on a weekend, you know that is only one answer. Okay,
Speaker 2: it was yes, I will do it. And I have
Speaker 2: to say I learned a lot.
Speaker 1: So what was the theory, the business theory behind why
Speaker 1: sputting up Hulett Packard a very successful company in the
Speaker 1: two separate companies.
Speaker 4: Why was that going to be such a great idea?
Speaker 2: I think the main theory, which at least in our case,
Speaker 2: have proven to be true, was focus.
Speaker 3: HP was a very big company.
Speaker 2: We were selling from printers to service data centers, all
Speaker 2: sorts of technology products, and the theory that the board
Speaker 2: had at that point was that focus was very important.
Speaker 2: Each market was moving in a different direction, we were
Speaker 2: competing with different companies, so being focus, being able to
Speaker 2: invest in our segments was the critical thing, and in
Speaker 2: our case has proven to be right.
Speaker 1: So when a company is split occurr in twenty fifteen,
Speaker 1: many people thought that Hewlett Packard Enterprises, which was in
Speaker 1: the sexual area of software and services, would.
Speaker 4: Become more valuable.
Speaker 1: But actually your company is now has a higher market
Speaker 1: capitalisation than Helot Packard Enterprises.
Speaker 4: Is that make you sad or happy?
Speaker 2: I only I'm only concerned about what happens with our company.
Speaker 2: And as I said, the separation has been good for us.
Speaker 2: We have proven that we can create value to two shareholders.
Speaker 2: Our ts are in the last seven years has been
Speaker 2: two hundred percent, significantly higher than the average of the market.
Speaker 2: So we have done well and what is more important.
Speaker 2: We have a lot of opportunities and ideas of how
Speaker 2: to continue to make the company better.
Speaker 1: You compete against I guess Dell and Lenovo and also Apple.
Speaker 1: I assume which of your which o those companies makes
Speaker 1: the best personal computer? What you say really and is
Speaker 1: what makes your computer better? Why should I want to
Speaker 1: buy yours over somebody else? Aren't they all really pretty
Speaker 1: much the same? At this point?
Speaker 2: I think there are three big differentiations for our products,
Speaker 2: especially in the piece space.
Speaker 3: One is security.
Speaker 2: Cyber security is every time more important, and we build
Speaker 2: both software and hardware in our PCs to make them
Speaker 2: more secure. Second big differentiation is industrial design. We have
Speaker 2: made a big effort to make our preces the best
Speaker 2: looking pieces, the most attractive, and the ones that have
Speaker 2: the better use model. And finally is sustainability. We think
Speaker 2: that sustainability is really important and we use in our
Speaker 2: PCs all type of materials that are environmentally friendly, from
Speaker 2: plastic that we get from the oceans, to coffee beans
Speaker 2: to You can look at our portfolio and see any.
Speaker 1: Type of matiityre do you sell them? And you don't
Speaker 1: have HP stores the way Apple has stores, So where
Speaker 1: do you sell your computers.
Speaker 2: It actually depends country by country. In the US, for example,
Speaker 2: we sell online on HP dot com or on Amazon.
Speaker 2: You can buy our products in any large consumer electronics
Speaker 2: retailer like Best Buy. But also for commercial customers, we
Speaker 2: have a big network of free sellers, commercial resellers that
Speaker 2: will sell our product and for our top customers, we
Speaker 2: have a dairy Excel force. In other countries, we have
Speaker 2: our own stores you do. For example, in India, we have
Speaker 2: more than five hundred stores that really we use.
Speaker 4: India rate five hundred stores and the US rates non.
Speaker 2: Because of the structure of the distribution and retail model
Speaker 2: in India, there is not an electronic retail network in
Speaker 2: many of the cities, so we had to build our
Speaker 2: own to be able to really reach consumers anywhere in
Speaker 2: the country. And we continue to expand because we see
Speaker 2: continue to see a big opportunity.
Speaker 1: So pose I buy one of your computers and then you, lady,
Speaker 1: you have another model. Can I trade it in and
Speaker 1: get a discount Like a car, I can trade them
Speaker 1: when I buy a new car.
Speaker 4: Don't you don't have trade ends or anything.
Speaker 3: Like that today today we don't.
Speaker 2: But this is one of the businesses that we're starting
Speaker 2: to develop, both because we see we can really help
Speaker 2: customers to always stay on the latest technology, but also
Speaker 2: because from a sustainability perspective, recycling and refurbishing is a
Speaker 2: very important thing to do. So we are going to
Speaker 2: be building that model at scale.
Speaker 4: Right, So where are your computers manufactured today?
Speaker 3: Majority are still produced in China.
Speaker 4: China?
Speaker 1: And are you worried about somebody putting a chip in
Speaker 1: the air that can enable the Chinese government to listen
Speaker 1: to what you're doing?
Speaker 4: Is you're worried about that? Or should I worry about that?
Speaker 2: You should not worry about that, because we worry about that, okay.
Speaker 3: And what we.
Speaker 2: Have built is what we call a secure supply chain
Speaker 2: through so across every step of the manufacturing process, we
Speaker 2: control anything that is inside of our printers, inside the chiefs,
Speaker 2: inside the sover to make sure that the printers, the
Speaker 2: PCs are the printers as we are.
Speaker 1: You're worried about being too dependent on China for your
Speaker 1: manufacturing because there could be us problems with China.
Speaker 4: Who knows what can happen? Why not diversify?
Speaker 2: Actually we are diversifying. We realized and learned painfully during
Speaker 2: Covid as many other companies, that depending on a specific
Speaker 2: territory or having too much dependency was too risky, and
Speaker 2: that the what we had done over many years of
Speaker 2: really pushing for a cost and therefore concentrated non manufacturing
Speaker 2: in one place created some the issues from a resiliency perspective.
Speaker 2: So since then we have been diversifying to increase resiliency.
Speaker 2: And this is a process that we embarked a few
Speaker 2: years ago that is going to take some time, but
Speaker 2: clearly we are doing that.
Speaker 1: But the key is the semiconductors of the chips and
Speaker 1: where are the chips made in China or the made
Speaker 1: in Taiwan or US.
Speaker 2: Or majority today are still built in Taiwan. We are
Speaker 2: working with all the key chip providers to make sure
Speaker 2: we diversify with the location. And this is why, for example,
Speaker 2: last year we were very supportive of the Chips Act
Speaker 2: because getting government funds to accelerate the change, we think
Speaker 2: is very important.
Speaker 1: So when you're at your home and you're working on
Speaker 1: a computer, do you ever use the opposition or the
Speaker 1: competitors to see what they're doing or you only can
Speaker 1: use HP.
Speaker 2: I use both, as you can guess I have lots
Speaker 2: of hppcs at home because every time there is something new,
Speaker 2: the team was me to train and sometimes they don't
Speaker 2: like it because I find things they didn't like me
Speaker 2: to find. So I give a lot of feedback, but
Speaker 2: of course I test also the latest innovation from our
Speaker 2: competitors to make sure I understand.
Speaker 1: You work at your competitors computers and say why don't
Speaker 1: we have this?
Speaker 4: And can't we don't have that?
Speaker 3: You ever ask yes, and the team hated it?
Speaker 1: And how do you protect against hacking? And how do
Speaker 1: you kind of give your people who are customers warning
Speaker 1: about what they're going to say if a hacker is
Speaker 1: coming in.
Speaker 3: What we have done is we.
Speaker 2: Have developed both software and hardware to protect our pieces.
Speaker 2: For example, in any of our commercial pieces, we have
Speaker 2: achieved embedded in the board that detects if the BIOS
Speaker 2: has been modified. The BIOS is kind of the brain
Speaker 2: of the PC, so we can detect if there has
Speaker 2: been any intrusion in the BIOS and if we detect that,
Speaker 2: we can restore it to the regional level. This is
Speaker 2: a unique technology that HP has that really helps to
Speaker 2: protect our pieces, and we have many other software developments
Speaker 2: in other layers to do similar things.
Speaker 4: You make servers as well, No, we only do pieces.
Speaker 2: We do workstations, which is a very high end type
Speaker 2: of PC, but we don't do servers.
Speaker 1: You make cartridges, right, and the printers. So on printers,
Speaker 1: it's one printer really different than another from your competitors.
Speaker 1: Aren't all the printers pretty much the same?
Speaker 3: Printers are fairly different.
Speaker 2: In fact, there is more difference print to printer than
Speaker 2: PC to PC because printers are a totally integrated business.
Speaker 2: So we develop the printer, we develop the ink, we
Speaker 2: develop the cartridge. Is a much more vertically integrated model
Speaker 2: that dries more differentiation.
Speaker 1: Is the printing business a growth business because people now
Speaker 1: printing stuff as much, they're just sending it by email
Speaker 1: or computer digital means to other people. So is printing
Speaker 1: a growth business or it's kind of a shrinking business.
Speaker 3: In printing, there are three very different segments.
Speaker 2: There is what we call home printing, so printers you
Speaker 2: will buy to use at home, to print photos or
Speaker 2: to print email. This is clearly a not growing business.
Speaker 2: Then we have an office segment people copiers printers that
Speaker 2: you will do in the you will use in the office.
Speaker 2: That's a market that is table is declining in more
Speaker 2: developed countries, is growing in emerging countries. And then we
Speaker 2: have a third segment, which is industrial printing. Industrial printing
Speaker 2: means printing labels, packaging, this type of and this is
Speaker 2: a significantly go.
Speaker 1: I actually do have an HP printery good, but the
Speaker 1: cartridge is always running out. I'm running out of ink
Speaker 1: all the time. So is that a problem? How do
Speaker 1: I how do I know where my ink is going
Speaker 1: to be out and right in the middle of printing something.
Speaker 1: Is that a big problem that you guys have, which
Speaker 1: I do about it.
Speaker 2: When we talk to customers, they always have two concerns
Speaker 2: about printing. One is what Jja said, I want to
Speaker 2: print my kid has finished homework. I need to print homework.
Speaker 2: The print is not working because the cartridge is not working.
Speaker 2: Second complaint that we have is printing is expensive. I
Speaker 2: really hate paying fifty dollars forty five dollars fifty five
Speaker 2: dollars for the cartridge. And we have a solution for that.
Speaker 2: We have created a subscription model where we monitor the
Speaker 2: amount of ink that is being used in the printer.
Speaker 2: Customers pays for the number of pages the print per
Speaker 2: month and before the printer runs out of ink, we
Speaker 2: send a new cartridge to customers and by doing that,
Speaker 2: depending on your volume, you can save up to seventy
Speaker 2: percent of I mean, you print seventy percent cheaper.
Speaker 4: What are you doing about carbon and your global footprint?
Speaker 2: We have an aggressive plan to reduce that to be
Speaker 2: carborn by twenty thirty and we are working in the
Speaker 2: areas of the company where we have more impact. Because
Speaker 2: of the products that we build, we use alls of plastic,
Speaker 2: so we have an important initiative to use a recycled
Speaker 2: plastic in any of our products. We are also I
Speaker 2: mentioned before, we are going to be changing business models
Speaker 2: to move into referbised products.
Speaker 3: So we live, we give to our products toward the lives.
Speaker 2: And finally, and one of the things that I feel
Speaker 2: most proud of in this space is people always associates
Speaker 2: printing with paper, paper with trees, and therefore, if you print,
Speaker 2: you're doing something wrong for the environment. So what we
Speaker 2: have is an initiative that we call forest positive printing.
Speaker 2: So we look at the amount of print paper that
Speaker 2: is used in our printers, if that paper is not
Speaker 2: coming from recyclable forests, for forests that have been planted
Speaker 2: to create paper. We plant trees and we have programs
Speaker 2: of reforestation to compensate for that.
Speaker 1: Silicon Valley companies are not famous for diversity, So what
Speaker 1: do you do.
Speaker 4: In that regard?
Speaker 1: You have a program that I'm sure you have some
Speaker 1: fair amount of diversity.
Speaker 3: We take it.
Speaker 2: Extremely seriously and for example, my compensation and the compensation
Speaker 2: of my direct team is dependent on the progress that
Speaker 2: we make on diversity.
Speaker 1: Also, I want to buy a computer, but I want
Speaker 1: I want to have AI in my computer. I want
Speaker 1: to be really up to date. Do you have AI
Speaker 1: and your computers yet?
Speaker 2: Not yet, but it is coming soon and we think
Speaker 2: this is going to be one of the largest transformations
Speaker 2: in the PC industry in decades. What will be possible
Speaker 2: starting this summer is to run large language models in AIPCS,
Speaker 2: which means that what today all of us are doing
Speaker 2: in the cloud, where you use any of the applications
Speaker 2: that you can, you will be able to do it locally.
Speaker 2: And what this means, which is why we think this
Speaker 2: is important, is it will be much better from a
Speaker 2: cost perspective, because running models in the cloud is expensive.
Speaker 2: It will be better from a security perspective because you
Speaker 2: will be able to use the model with your own
Speaker 2: data locally without having to upload your data to the cloud,
Speaker 2: and you will be able to do it anywhere in
Speaker 2: the world. And also for applications where speed is important,
Speaker 2: where latency is important, you will be able to do
Speaker 2: it locally much faster. For example, in gaming, where you
Speaker 2: are where the game needs any resource the computer have,
Speaker 2: it will be a much better model. So it's going
Speaker 2: to be a big change starting this summer at the
Speaker 2: same price too, slightly higher price, but if we look
Speaker 2: at the increase of price versus the increase of value,
Speaker 2: not comparable.
Speaker 4: With one of your competitors.
Speaker 1: Apple has recently come out with a product that is
Speaker 1: they called spatial computer.
Speaker 2: It's like a virtual reality. Do you have that kind
Speaker 2: of product yet, And we have had a similar product
Speaker 2: for some time. Focus on two spaces. One was gaming,
Speaker 2: one was in some commercial usance. And we think that
Speaker 2: over time this category is going to grow. But what
Speaker 2: we really think is that computing is going to become
Speaker 2: we call it immersive. That today we interact with computers
Speaker 2: through a screen or through a keyboard, more and more
Speaker 2: we are going to interact with our full body, with
Speaker 2: our gestures, with and this is the trend that we
Speaker 2: are we are pushing for. You will see this in
Speaker 2: some models like what Apple has done. There are also
Speaker 2: very interesting concepts where you interact with holograms and we
Speaker 2: are really exploring a multitude of different things which one
Speaker 2: will win. At this point it is difficult to see,
Speaker 2: but clearly immersive is the future.
Speaker 1: Or somebody comes and says, look, I don't really care
Speaker 1: about price. I'm not price sensitive. Sell me whatever you got,
Speaker 1: give me your best stuff. I mean, what's somebody going
Speaker 1: to spend that five thousand dollars or something for.
Speaker 2: A con five thousand dollars? So we have products at
Speaker 2: five thousand dollars for a business customer. If you want
Speaker 2: to buy the top of the line workstation with the
Speaker 2: top of the line processor ten fifteen thousand dollars.
Speaker 4: Wow.
Speaker 1: So if somebody goes into your stores in India and
Speaker 1: they spent five thousand for a personal computer, that they
Speaker 1: call you up and side. We just sold somebody a
Speaker 1: five thousand dollars personal computer. They don't call you about
Speaker 1: that since you mentioned it.
Speaker 2: This summer we were in India, so I decided to
Speaker 2: go to some of our stores without telling them who
Speaker 2: I was, so you should see the faces.
Speaker 3: When I went to the store, they look at me.
Speaker 2: I asked them about what products they were selling, and
Speaker 2: at some point I said, well, you know, I'm the
Speaker 2: sea of the company, and they became white.
Speaker 3: First war Like they didn't believe it.
Speaker 4: They didn't believe it, or after a while.
Speaker 3: They believed it, but some of them look at the
Speaker 3: web to make sure it was me.
Speaker 1: Okay, why should somebody want to join Hula Packard as
Speaker 1: an employee? Why is it better than working at Apple
Speaker 1: or one of the other competitors that you might have.
Speaker 2: So when when Ivy CEO, we define four objectives for
Speaker 2: the company and one of the four objectives is to
Speaker 2: become a school of talent. And our value proposition to
Speaker 2: employees is that they can join the company, they will
Speaker 2: learn their job, they will be able to experience multiple businesses,
Speaker 2: multiple functions if they want. They can live in multiple
Speaker 2: countries just because of the presence that we have. So
Speaker 2: we really focus on employee development as the key value proposition,
Speaker 2: to the point that we say when someone leaves, we
Speaker 2: celebrate the graduation because really that person has learned from
Speaker 2: us and has developed. And this also gives us opportunity
Speaker 2: to bring someone new, to bring someone younger, to continue
Speaker 2: to reference.
Speaker 3: So that's one of the key values that we have.
Speaker 1: So if somebody wants to work at a company like yours,
Speaker 1: what's the best way to get a job? You get
Speaker 1: an engineering degree from a good school or not a
Speaker 1: good school. Is being an engineer is the best way?
Speaker 2: I think there are multiple Always clearly there are a
Speaker 2: lot of engineers in the company, So studying engineering and
Speaker 2: graduating from a good school is important. But we hire
Speaker 2: people that graduate from marketing. We graduate people from law schools.
Speaker 2: I mean, we are a very large company that has
Speaker 2: any function that you can think of in the company,
Speaker 2: So we have lots of people.
Speaker 1: The average person you hire do'es he or she lasts
Speaker 1: one year or two years, five years?
Speaker 4: How long are your average people?
Speaker 3: In general?
Speaker 2: We are a company with long tenure. I mean I
Speaker 2: said before I've been more than thirty four years in
Speaker 2: the company. You will find people that has been the
Speaker 2: company for a long time.
Speaker 1: Would you say that the computing business is one that
Speaker 1: is likely to increase in value? Is more companies come in,
Speaker 1: or computers become more sophisticated, or you think it's pretty
Speaker 1: much a solid business, but not going to be a
Speaker 1: high growth business.
Speaker 3: It depends on what you mean by high growth.
Speaker 2: Is a business that we think is going to grow
Speaker 2: between two and four percent, but it is a four
Speaker 2: hundred billion dollar business, so twocent of four hundred billion
Speaker 2: is a lot of additional business every year in.
Speaker 1: Your business today, would you say that your biggest problem
Speaker 1: is what your biggest concern is? Competition, government, regulation, the economy.
Speaker 4: What is your biggest concern?
Speaker 2: I think one is all the geopolitical changes that we
Speaker 2: are seeing. I think one we have had a very
Speaker 2: stable environment for the last twenty years. It was very
Speaker 2: clear how to manage the company to be successful. Things
Speaker 2: have changed extremely fast and this is having significant impact
Speaker 2: on our business. And the second is to make sure
Speaker 2: that we stay in the lead. From an innovation perspective.
Speaker 2: The pace where that technology is changing by is faster
Speaker 2: than ever, so making sure that we are making the
Speaker 2: right technology beds, that we hire the right people to
Speaker 2: develop those technologies.
Speaker 3: That's one of the challenges.
Speaker 1: And today you get a lot of people coming to
Speaker 1: here with great ideas what new businesses you should be in,
Speaker 1: or you generate your own ideas of new businesses that
Speaker 1: can expand your business space is both.
Speaker 2: We have teams in the company that are constantly exploring
Speaker 2: new ideas, but we also have a small venture fund
Speaker 2: that looks what is being invented, what is being created
Speaker 2: in startups, and then.
Speaker 3: We invest on those.
Speaker 2: The innovation model has changed a lot in the last
Speaker 2: thirty years. Thirty years ago, companies like US used to
Speaker 2: have big central labs that were the ones creating new things.
Speaker 2: The model is way more decentralized today and the combination
Speaker 2: of university startups.
Speaker 3: Is really now driving the innovation.
Speaker 2: So we need to be much more external focused than
Speaker 2: we were before to continue to stay on the lead.
Speaker 1: So what is the most important message you would like
Speaker 1: to convey anybody watching here today about the personal computer
Speaker 1: world is that it's a great thing for society and
Speaker 1: that they should buy more personal computers. And what is
Speaker 1: the most important thing you want to convey about HPA inc.
Speaker 2: About HPS that is a company that really cares about
Speaker 2: helping society. That we have a big opportunity to enable
Speaker 2: our employees to be more productive, to be more engaged,
Speaker 2: and that we see a lot of opportunities to innovate
Speaker 2: to make it happen. And also that is a company
Speaker 2: with very strong values and strong principles. Since the company
Speaker 2: was funded in nineteen thirty eight, the Villa, and they've
Speaker 2: defined before all the conversation about sustainability or diversity even existed.
Speaker 2: They define the values of the company. They define that
Speaker 2: the company. Great companies create a lot of value for shareholders,
Speaker 2: but also have a positive impact for our communities.
Speaker 3: And since then we have been driving both.
Speaker 1: Thanks for listening to hear more of my interviews. You
Speaker 1: can subscribe and download my podcast on Spotify, Apple, or
Speaker 1: wherever you listen.