Investor Relations

142INVESTOR RELATIONS3.6.16.1 ObjectivesCompanies do not organize as many analyst days as roadshows, but theseevents require at least as much work. Therefore, it is critical that you knowwhat you want to achieve and what type of messages you want the investmentcommunity to take away, before you decide to go ahead with the analyst-daypreparation. The challenge will be to build “checks and balances”into the day’s agenda, so that investors are happy with the details receivedabout the issues that are concerning them, and you have to put emphasis onthe issues that you think are poorly understood by the market.If you have no strong message to deliver, either you find another topic oryou give up the analyst day for this time.The IRO, as project manager, identifies the main topics to be addressedduring the event: These will revolve around a division, a region, a technology,combined with a strategic update. The event will also serve to demonstratehow the CEO’s vision is implemented.As they are a unique way to show management and corporate culturein action, priority should be given to informal exchanges rather than traditionalpresentations. Ideally, the time should be evenly split between presentations,Q&A sessions, and networking. Make sure you have allocatedample time for this in the schedule and that management will be available.The events can be unique opportunities for analysts and investors tomingle with executives and operational managers in small groups and gaugethem.With this in mind, the IRO should take care not to allow a few investorsto monopolize the time of the top management and assure that they go fromtable to table if a dinner or luncheon is scheduled.Lastly, an investor day is also an image-enhancing event. There againparticular attention should be given to quality logistics, clean documentation,and to the care with which analysts and investors will be received,while keeping things nonetheless simple.3.6.16.2 PlanningPlanning and timing can make or break an analyst day. Here is some usefuladvice on how to avoid the main pitfalls: Whether it is scheduled over half a day or several days, the timingof the event is important both to internal and external participants. Thedate should be set at least six months ahead of time, depending on theirschedules, to ensure maximum commitment of time and resources of theexecutives and operational managers who will be participating and on thefinancial market’s events calendar. The company is part of a broader sector,