Petratis: When looking at our security business and what the future demands from us, we sought out talent with a deep understanding of global manufacturing businesses, distribution, and channel marketing and management. Everyone on the team is an accomplished leader with multiple years of experience under their belt in the security industry and other related industries. The more I’ve had the pleasure of getting to know and work with them over the past few months, the more I am confident that they all bring the vision and leadership skills needed to help realize Allegion’s full potential in the global safety and security industry. I’m proud of what we have been able to accomplish together so far and am looking forward to 2014 and beyond.
How will this move put you in a better position to increase your position within the security market?
Eckersley: Mechanical hardware is the foundation of our business and will continue to make up the core of what we do and provide us with great growth opportunities as we continue to develop and expand our portfolio. It is also clear to us that future of the entire security industry will also include a great deal of opportunity as we address the needs of an increasingly connected world, and this move gives us an opportunity to focus on the electronic side of our business as well. We will be making significant investments here to expand our core capabilities beyond the doorway to include more fully integrated security solutions. We believe that our strength in mechanical security, when combined with digital, mobile and interconnected electronic solutions – and our expertise in style and design – will make us a leader in our markets.
What are your primary strategic goals for the company moving forward?
Petratis: We will look for smart, strategic acquisitions we can make that will complement and enhance our existing mechanical and electronic offerings. We will increase our investment in R&D and product development, recruiting new talent and expertise along the way. We will look to further expand our business in emerging and attractive markets around the world. My biggest goal for us, though, is to challenge conventional thinking and take calculated risks grow the business, and in doing so, help our customers succeed.