Petalstone Group: Difference between revisions
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| net_income = {{increase}} $135 billion | | net_income = {{increase}} $135 billion | ||
| assets = $300 billion | | assets = $300 billion | ||
| owner = {{ubl|[[ | | owner = {{ubl|[[Juno]] (51%)}} | ||
| parent = | | parent = | ||
| divisions = {{ubl|Petalstone Electronics|Petalstone Music Entertainment|Petalstone Pictures Entertainment}} | | divisions = {{ubl|Petalstone Electronics|Petalstone Music Entertainment|Petalstone Pictures Entertainment}} | ||
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Established in 1957, Petalstone initially focused on diverse sectors such as food processing, textiles, insurance, securities, and retail. The company ventured into the construction and shipbuilding industry in 1964 and subsequently branched out into electronics during the mid-1970s, these areas underpinning its growth. Following its initial public offering in 1988, Petalstone expanded its global presence, with its electronics and entertainment sectors emerging as primary income sources since 2001. Between 2002-2008, Juno - a [[Sodesterium|private corporate entity]] owned by business tycoons [[Alexandus Venio II]] and [[Sando Porza]] - initiated a gradual hostile takeover of many of Petalstone's loosely-affiliated organizations, thereby acquiring a controlling interest in Petalstone Inc. In late 2009, Juno announced its intent to purchase a majority stake in Petalstone, which was approved by regulators on 1 November 2011. Since then, Petalstone has gone through a global reorganization and restructuring process, streamlined its operations, and is one of the most valuable companies in the world. Since 2018, three of its companies have gone public via reverse merger: Petalstone Life Insurance, one of the top ten-largest insurance companies; Rosewood-Meranti Worldwide, the world's 7th largest advertising agency; and Petalstone Heavy Industries, the world's fifth-largest shipbuilder. | Established in 1957, Petalstone initially focused on diverse sectors such as food processing, textiles, insurance, securities, and retail. The company ventured into the construction and shipbuilding industry in 1964 and subsequently branched out into electronics during the mid-1970s, these areas underpinning its growth. Following its initial public offering in 1988, Petalstone expanded its global presence, with its electronics and entertainment sectors emerging as primary income sources since 2001. Between 2002-2008, Juno - a [[Sodesterium|private corporate entity]] owned by business tycoons [[Alexandus Venio II]] and [[Sando Porza]] - initiated a gradual hostile takeover of many of Petalstone's loosely-affiliated organizations, thereby acquiring a controlling interest in Petalstone Inc. In late 2009, Juno announced its intent to purchase a majority stake in Petalstone, which was approved by regulators on 1 November 2011. Since then, Petalstone has gone through a global reorganization and restructuring process, streamlined its operations, and is one of the most valuable companies in the world. Since 2018, three of its companies have gone public via reverse merger: Petalstone Life Insurance, one of the top ten-largest insurance companies; Rosewood-Meranti Worldwide, the world's 7th largest advertising agency; and Petalstone Heavy Industries, the world's fifth-largest shipbuilder. | ||
As of 2030, Petalstone holds the sixth highest global brand value, ranks third in the entertainment business sector, is among the leaders in semiconductor sales, and, since 2020, stands as the third-largest television manufacturer worldwide. Since its acquisition by the | As of 2030, Petalstone holds the sixth highest global brand value, ranks third in the entertainment business sector, is among the leaders in semiconductor sales, and, since 2020, stands as the third-largest television manufacturer worldwide. Since its acquisition by the Juno, Petalstone has undertaken numerous environmental initiatives, such as pledging to cease the use of coal and transition to 100% renewable energy. Additionally, it has set an industry precedent by becoming the first electronics manufacturer to completely phase out the use of polyvinyl chloride (PVC) and brominated flame retardants (BFRs) across all its products. | ||
== History == | == History == | ||
== Corporate information == | == Corporate information == | ||
=== Corporate governance === | === Corporate governance === | ||
Since 2011, Petalstone Group is under direct governance and receives oversight from the | Since 2011, Petalstone Group is under direct governance and receives oversight from the Juno's co-chairs, [[Alexandus Venio II]] and [[Sando Porza]]. Their "pilot/co-pilot" management system of a two-person team of a President (or Principal) and Vice President (or Vice Principal) sharing responsibilities was implemented in the first part of its "Vision MMXX" reorganization and restructuring process. | ||
Phase II of Vision MMXX saw the reorganizing of Petalstone's overseas marketing bases in line with changes in the market, including a combined [[Crona|Cronan]] regional subsidiary and [[Alshar|Alshari]]-[[Audonia|Audonian]] regional subsidiary. The digital imaging, existing display, IT solutions, consumer electronics, wireless, networking, semiconductor, and LCD divisions were merged into the consumer electronics division of Petalstone Electronics. | Phase II of Vision MMXX saw the reorganizing of Petalstone's overseas marketing bases in line with changes in the market, including a combined [[Crona|Cronan]] regional subsidiary and [[Alshar|Alshari]]-[[Audonia|Audonian]] regional subsidiary. The digital imaging, existing display, IT solutions, consumer electronics, wireless, networking, semiconductor, and LCD divisions were merged into the consumer electronics division of Petalstone Electronics. | ||
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Phase III Vision MMXX came in 2016, with the acquisition of a prominent textile firm, [[Cambicenti Company]]. This led to Petalstone's fashion, food, housing, leisure, and bio businesses merging with its Engineering & Construction, Trading & Investment, Fashion, and Resort & Construction subsidiaries. The resulting merger established Petalstone C&T (Construction & Trading). Petalstone C&T was then organized into four working groups (Engineering & Construction, Trading & Investment, Fashion, and Resorts). | Phase III Vision MMXX came in 2016, with the acquisition of a prominent textile firm, [[Cambicenti Company]]. This led to Petalstone's fashion, food, housing, leisure, and bio businesses merging with its Engineering & Construction, Trading & Investment, Fashion, and Resort & Construction subsidiaries. The resulting merger established Petalstone C&T (Construction & Trading). Petalstone C&T was then organized into four working groups (Engineering & Construction, Trading & Investment, Fashion, and Resorts). | ||
Phase IV of Vision MMXX started in 2018 with the formation of Petalstone Life Insurance, which originally provided life, health insurance, and annuities to its employees (and through the | Phase IV of Vision MMXX started in 2018 with the formation of Petalstone Life Insurance, which originally provided life, health insurance, and annuities to its employees (and through the Juno, it would additionally represent all of Quicksilver Industries). Petalstone Life remained private until late 2018 when it was announced that it would go public via a reverse merger and offer its products and services to the public. Petalstone Life quickly grew and attained a market-leading position after just 18 months of operations and is in the top ten-largest life insurance companies in the world. | ||
=== Executive management === | === Executive management === | ||
{| class="wikitable" | {| class="wikitable" | ||