ANYTIMEkANYPLACEkANYWHERE - Heinz

stake in The Hain Celestial Group makes us a major
player in organic and natural foods, the fastestgrowing
segment of the food industry. The
acquisition of UB Frozen and Chilled Foods in the
U.K. makes us a leader in the rapidly growing area
of quick-serve meals in Western Europe. Our highgrowth
Asian strategy was built on acquisitions to
provide infrastructure and leading local brands.
QWhat makes the Asia/Pacific region so
promising?
A The Asia/Pacific region, especially India,
Indonesia, the Philippines and China, is likely to
experience explosive growth in the next few years.
There are three billion people in these markets,
many of whom are, for the first time, being exposed
to Western technology and convenient, nutritious
prepared foods. Now is the time to win their loyalty.
The four most populous countries in the world
are China, India, the United States and Indonesia.
Twenty-five years from now, that still will be the
case. We are now one of the few American food
companies that is well established for medium- and
long-term growth in Asia.
Q Any final thoughts for shareholders?
A We believe Heinz is a great investment. We
will continue to focus on aggressive marketing and
innovation as the best way to build shareholder
value. We are targeting top-line sales growth of
3-5% and EPS growth of 10% in Fiscal 2001. If
we achieve these goals, we will have delivered a
commendable five-year compound annual growth
rate in EPS of over 10%. This consistent growth
rate, combined with aggressive management
and growing global brands, makes Heinz a very
attractive investment.
Finally, I want to take this opportunity to
congratulate and thank Tony O’Reilly for his 31
years of distinguished leadership at Heinz. Tony
has announced his intention to retire from the
Chairman’s position and the Board of Directors on
September 12, 2000. He departs knowing that, as
only the fourth Chairman and the fifth CEO of
Heinz, he greatly enriched a proud and unique
tradition of leadership, which included Henry J.
Heinz, Howard Heinz, Jack Heinz and Burt Gookin.
Like his illustrious predecessors, Tony had a
vision of Heinz as an international food company,
marketing superior branded foods in every corner
of the world. A new generation of Heinz leadership
is avidly pursuing this vision, with a record number
of product innovations and dynamic acquisitions in
fast-growing markets, such as Asia.
This year, we also bid farewell and offer thanks
to four Directors who have been steadfast
custodians of shareholder interests. Bill Snyder,
Eleanor Sheldon, Herm Schmidt and Don Wiley
have all been conscientious, hard-working and
judicious Board members. We have valued their
judgment and advice. We will miss them all.
William R. Johnson
President and Chief Executive Officer
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