Strategy and Growth Framework

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“Our new Strategy and Growth Framework defines our leadership priorities through 2023. Our fundamental approach remains the same. We will focus our portfolio and utilize our financial strength to invest in growth, extend our leadership, and return cash to shareholders.”
- Wendell P. Weeks, Chairman and Chief Executive Officer

The Strategy and Growth Framework outlines our priorities for 2020-2023. It is aligned with the Strategy and Capital Allocation Framework that we introduced in October 2015, which provided guiding principles for 2016-2019. Under the Strategy and Growth Framework, we expect to deliver 6% to 8% compound annual sales growth and 12% to 15% compound annual earnings per share growth. We also plan to expand our operating margin and ROIC, and deliver $8-10 billion to shareholders, including annual dividend per share increases of greater than 10%. 

 

August 2019: Tony Tripeny, Chief Financial Officer, recaps Q2 2019 performance

 

The Framework is built on a core leadership philosophy of:

  • Operating our businesses exceptionally well 
  • Investing to capture profitable growth opportunities that align with our focused portfolio
  • De-risking investments through customer commitments
  • Distributing cash to shareholders

Under the Strategy and Capital Allocation Framework, we created significant value. We committed to generate more than $26 billion in cash, return more than $12.5 billion to our shareholders through repurchases and dividends, and invest $10 billion to extend our leadership and deliver growth – and we have done exactly what we said we would do. Our strong execution has created a much bigger and stronger Corning.

The new Strategy and Growth Framework defines our leadership priorities through 2023.  It’s our original Framework evolved for a new growth era.

 

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