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Building The Architecture
May 2, 2012Shingo Prize ConferenceJacksonville, FL
Barry L. PennypackerPresident & CEO
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All of the statements made by Gardner Denver in this presentation or made orally in connection withit, other than historical facts, are forward-looking statements. As a general matter, forward-lookingstatements are those focused upon anticipated events or trends, expectations, and beliefs relating tomatters that are not historical in nature. The Private Securities Litigation Reform Act of 1995 providesa safe harbor for these forward-looking statements. In order to comply with the terms of the safeharbor, the Company notes that forward-looking statements are subject to known and unknown risks,uncertainties, and other factors relating to the Companys operations and business environment, allof which are difficult to predict and many of which are beyond the control of the Company. Theseknown and unknown risks, uncertainties, and other factors could cause actual results to differmaterially from those matters expressed in, anticipated by or implied by such forward-looking
statements.
Factors that could cause or contribute to such differences include, but are not limited to: changingeconomic conditions; pricing of the Companys products and other competitive market pressures; thecosts and availability of raw materials; fluctuations in foreign currency rates and energy prices; risksassociated with the Companys current and future litigation; and the other risks detailed from time totime in the Companys SEC filings, including but not limited to, its annual report on Form 10-K for thefiscal year ending December 31, 2010, and its quarterly reports on Form 10-Q.
These statements reflect the current views and assumptions of management with respect to futureevents. The Company does not undertake, and hereby disclaims, any duty to update these forward-looking statements, although its situation and circumstances may change in the future. The inclusionof any statement in this presentation does not constitute admission by the Company or any otherperson that the events or circumstances described in such statement are material.
Safe Harbor Disclosure
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Gardner Denver Overview
Early stages of transformation to a high quality,high margin Industrial Company with Energy exposure
Leading brands and technologies strong distributionNew, operationally focused team driving The Gardner Denver Way
~$2.4B(1) global Company with diverse and attractive end markets
Growing, profitable aftermarket opportunity
Focused on superior cash and earnings growthStrong track record on analyzing and integrating acquisitions
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A Global Leader in Compressed Air And Gas,Vacuum and Fluid Transfer Technologies
We serve a wide range of industries with efficient & reliable products
Energy Medical Mining Transportation Food &Beverage
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The Fish Rots From The Head First!
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What types of structure or behaviorsshould be evident in a successfuloperationally excellent company?
I would argue that the ten ShingoPrinciples of Operational Excellence are
a place to start.
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Ten Principles of Operational Excellence
Create value for the customerFocus on processRespect every individualLead with humilitySeek perfectionAssure quality at the sourceFlow and pull value
Enhance scientific thinkingThink systematicallyCreate a constancy of purpose
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Why Do Most Transformations Fail?
Failure of leadership
Not a sufficient amount of urgencyTools are substituted for visionUndercommunicating, period!Not understanding the human resource
implicationsPound your chest too soonNot making changes permanent
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So What Can We Do?
Recognize the psychology behind change.
CommitmentDenial
ExplorationResistance
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How Do We Sustain Positive Change?
Remove bureaucracy
Blameless environmentEmpowerOpen and candid about the changeTake risksExhibit a sense of urgencyRecognize that change is not the issue,
resistance is!
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Another Hint!
Learn First
Create Great Students
Create Great Teachers
P
D
C
A
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Aftermarketgrowth
Innovativeproducts
Selectiveacquisitions
Marginexpansion
Organicgrowth
CUSTOMERS
InnovationHigh Velocity
RESOURCES
Is Operational Excellence A Strategy?
OE is an enabler, but not a stand alone strategy!
SHAREHOLDERS EMPLOYEES
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Remember!
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Lessons Learned
CUSTOMERS
Velocity
Innovation
RESOURCESSHAREHOLDERS EMPLOYEES
Employees need a vision or some type of image thatprovides clarity to the future.
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Dont ever let yourself believe that you havedelivered the message and everyone gets it.
Lessons Learned
This is not a desk job. It is a contact sport! A failure to plan is a plan to fail. Be a prudent risk taker. Lack of financial success is usually an
organizational issue. Be flexible. It doesnt always work. People by nature are good, processes by nature
are bad.
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Remember the 4 P s
PASSION PERSISTENT PATIENT
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Thank You For Your Attention!
Questions?
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