Methanex Background Essay

359 Words2 Pages
John Floren, chief executive officer (CEO) of Methanex, looked up from his notes and stared out his office window at the fog gently blanketing the harbour in Vancouver, Canada. It was January 2013. Floren had recently been appointed president and CEO of Methanex, the world’s largest methanol producer. Before the 2008 global economic crisis, the senior management team had developed a strategy that had increased annual revenues by more than 30 per cent and earnings by almost 60 per cent. Despite this success, Floren had concerns regarding the sustainability of the corporate strategy’s focused scope. Methanex had been successful in large part due to its cost leadership and reliable delivery, achieved by building multimillion-dollar production facilities in remote, natural gas-rich regions of the world that it supported through its own distribution and logistics system. Unlike many of its competitors, Methanex was not diversified. While Floren believed this lack of diversification allowed his organization to focus singularly and clearly on its strategy, he knew that the company was completely reliant on the stability of the market for methanol. At any time, problems of poor infrastructure and political instability in emerging market economies could result in inconsistent gas supply, crippling Methanex’s production and, therefore, impacting its supply chain. Top management at Methanex undertook a quarterly risk-review process that included a systematic review of corporate strategy and the competitive landscape in the methanol industry. The primary objectives were to identify organizational risks and opportunities and to develop appropriate strategic responses. The Methanex board of directors had taken a keen interest in the strategic positioning of the firm and had requested Floren present his strategic recommendations and action plan for the future of Methanex later
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