Letter From Loews's CEO and Co-Chairmen of the Board
Loews Corporation is a diversified company whose strategic imperative is, and always has been, to create value for our shareholders over the long term. While our shareholders are crucially important, we also have long-term responsibilities to all Loews’s stakeholders. The well-being of our employees, of the communities where we live and work, and of our society at large is inextricably linked to our ability to achieve our value-creation goals.
We are known for being thoughtful stewards of capital with long-term perspectives. As such, we manage our businesses and resources conservatively, taking advantage of opportunities presented by business cycles and responding as circumstances, markets, and industries change. While history certainly influences our decisions and actions, we look to the future and to the sustainability of our businesses, our communities, and our people.
As always, our focus is on sound, prudent management of our financial and human resources— and without paying careful attention to the world around us, we’d be unable to be the effective managers we must be. That’s why our sense of civic responsibility is intrinsic to how we conduct ourselves and to how we manage Loews. We encourage our people to volunteer their time and share their resources in ways that make a positive impact in our world—and we like to think we model this kind of engagement by being deeply committed ourselves to philanthropic and social enterprise organizations.
At Loews we are proud of our notably collegial corporate culture, and we believe that it plays a major role in helping us to achieve our strategic goals and to sustain the company’s organizational health. We are the sum of the people who work here, and Loews employees at every level contribute to our collective success by communicating openly, supporting one another’s work, and collaborating creatively to deliver optimum results. We encourage each of our subsidiaries to foster, in their own ways, a culture that’s similarly open and respectful.
We have always believed that doing the right thing is paramount—and we’ve done the right thing as a matter of course, usually without any public fanfare. Today, as companies across the world have increased their focus on sustainability issues, we’ve chosen to share Loews’s efforts and those of our subsidiaries in this report.
