Petalstone

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Petalstone
Formerly
Petalstone Inc. (1970–2010)
Subsidiary
IndustryConglomerate
Founded1 October 1970; 66 years ago
Headquarters,
Area served
Worldwide
Key people
  • Giovari Parofantone (President)
  • Navia Reschetta (Vice President)
ProductsApparel, automotive, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, ships, telecommunications equipment, home appliances
ServicesAdvertising, construction, entertainment, financial services, hospitality, information and communications technology, medical and health care services, retail, shipbuilding
RevenueIncrease $250 billion
Increase $135 billion
Total assets$300 billion
ParentQuicksilver Industries
Divisions
  • Petalstone Electronics
  • Petalstone Music Entertainment
  • Petalstone Pictures Entertainment
Subsidiaries
  • Petalstone Electronics
  • Petalstone Engineering
  • Petalsone Construction & Trading
  • Petalstone Heavy Industries
  • Petalstone Consulting Services
  • Petalstone Insurance
  • Rosewood-Meranti Worldwide


Petalstone Group is a Caphirian global electronics and media conglomerate headquartered in the Bravantiva Province of the Imperium of Caphiria. It operates as a subsidiary of Quicksilver Industries and comprises of numerous affiliated businesses, most of them united under the Petalstone brand.

Petalstone was founded in 1970 as a trading company focusing on food processing, textiles, insurance, securities, and retail. It entered the electronics industry in 1987 and construction and shipbuilding industries in the mid-1990s; these areas would drive its subsequent growth. Since 2000, Petalstone has increasingly globalized its activities and electronics; in particular, its electronics and entertainment sectors have become its most important source of income.

Today, Petalstone operates under three main business divisions: Electronics (AV, IT & communication products, semiconductors, video games, network services and medical business, home appliances and consumer electronics), Pictures Entertainment (theatrical motion pictures, television programs, and recorded videos), and Music Entertainment (record labels and music publishing). As a result, Petalstone operates the third-largest entertainment business, is among the semiconductor sales leaders and since 2020, the fifth-largest television manufacturer in the world.

Outside of its core business divisions, Petalstone has several additional businesses that function as quasi-independent operating subsidiaries, including Petalstone Electronics (the flagship company of its electronics division and the world's 2nd-largest information technology company, consumer electronics maker and chip-maker measured by 2020 revenues), Petalstone Heavy Industries (the world's fifth-largest shipbuilder). and Petalstone Engineering and Petalstone C&T (respectively the world's 13th and 36th largest construction companies). Other notable subsidiaries include Petalstone Life Insurance (the world's 10th largest life insurance company), Petalstone Certi (operator of the Certi Resort chains) and Rosewood-Meranti Worldwide (the world's 7th largest advertising agency).

Petalstone was acquired by Quicksilver Industries in 2010 for $235 billion in a half-cash, half-stock deal which was the largest acquisition in the world. Despite parent company Quicksilver Industries being primarily known for its defense and military related business and companies, Petalstone is the second-most profitable subsidiary within the entire QSI portfolio behind Shockwave Industrial, generating almost a quarter of QSI's revenue since its acquisition. As of 2020, Petalstone has the 6th highest global brand value. Since its acquisition by QSI, Petalstone has launched numerous environmental practices and initiatives, such as committing to ending its use of coal and shifting to 100% renewable clean energy and being the first electronics manufacturer to fully eliminate all polyvinyl chloride (PVC) and brominated flame retardants (BFRs) in its complete product line.


History

Corporate information

Corporate governance

As a wholly-owned subsidiary, Petalstone is under direct governance and receives oversight from the QSI's corporate board of directors. However, because of the highly diversified nature of its business, Petalstone switched its management system from a single CEO-system to a two-person management team with the President and Vice President sharing responsibilities.

In 2014, Petalstone went through the first part of its "Vision MMXX" reorganization and restructuring process. This began with Petalstone reorganizing its overseas marketing bases in line with changes in the market, including a combined Cronan regional subsidiary, and a combined Audonia-Punth 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.

The second part of Vision MMXX came in 2018, 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). Another major component of the second part of Vision MMXX was the formation of Petalstone Life Insurance, which originally provided life, health insurance and annuities to its employees and eventually all of QSI. Petalstone Life remained private until late 2018 where it was announced that it would be going public via a reverse merger and offering 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
Name Position(s)
Giovari Parofantone President and Principal Executive of Petalstone Group
Navia Reschetta Vice President and Vice Executive of Petalstone Group
Aliator Mantum Principal Strategy Executive of Petalstone Group
Justius Besorita Principal Finance Executive of Petalstone Group
Dragaro Condatera Principal Executive of Petalstone Electronics
Juvenlius Ubilia Principal Executive of Petalstone Music Entertainment
Isatus Ossonia Principal Executive of Petalstone Pictures Entertainment

Organization

Petalstone employs 335,100 across its three core divisions and an additional 120,000 throughout its various affiliated businesses. With a total of 455,100 employees, Petalstone accounts for nearly 10% of QSI's total workforce.

Petalstone Group is comprised of 8 listed companies and 14 unlisted companies. The de facto flagship company of Petalstone is Petalstone Electronics Inc., which is commonly referred to as simply "Petalstone" since it is the most consumer-facing brand of the company.

Petalstone Group
Listed Companies Unlisted Companies
Petalstone Electronics Inc. Petalstone Engineering
Petalstone Music Entertainment Inc. Petalstone C&T
Petalstone Pictures Entertainment Inc. Petalstone Certi
Petalstone Life Insurance Inc. Petalstone Medical
Rosewood-Meranti Worldwide Petalstone Consulting Services
Petalstone Heavy Industries Petalstone Research
Petalstone Foundation
Petalstone Sports
Petalstone Science & Technology
Petalstone Center of Innovation
Petalstone Computing
Petalstone Healthcare and Biotechnology

Business divisions

Petalstone Group has three main business divisions (Electronics, Pictures Entertainment, Music Entertainment) and activities in areas including construction, consumer electronics, financial services, shipbuilding and medical services.

Petalstone Electronics

Petalstone Electronics Inc. is the electronics business unit of Petalstone and its de facto flagship company. It is a multinational electronics and information technology company headquartered in Mato, Abderia Province. Its products include air conditioners, computers, digital televisions, liquid crystal displays (including thin film transistors (TFTs) and active-matrix organic light-emitting diodes (AMOLEDs)), mobile phones, monitors, printers, refrigerators, semiconductors and telecommunications networking equipment.

The company focuses on four areas: digital media, semiconductor, telecommunication network and LCD digital appliances. The digital-media business area covers computer devices such as laptop computers and laser printers; digital displays such as televisions and computer monitors; and consumer entertainment devices such as DVD players, MP3 players and digital camcorders; and home appliances such as refrigerators, air conditioners, air purifiers, washers, microwave ovens, and vacuum cleaners.

The semiconductor-business area includes semiconductor chips such as SDRAM, SRAM, NAND flash memory; Smart cards; mobile application processors; mobile TV receivers; RF transceivers; CMOS Image sensors, Smart Card IC, MP3 IC, DVD/Blu-ray Disc/HD DVD Player SOC and multi-chip package (MCP).

The telecommunication-network-business area includes multi-service DSLAMs and fax machines; cellular devices such as mobile phones, PDA phones, and hybrid devices called mobile intelligent terminals (MITs); and satellite receivers.

The LCD business area focuses on producing TFT-LCD and organic light-emitting diode (OLED) panels for laptops, desktop monitors, and televisions.

Petalstone Electronics is among the world's largest television manufacturers, manufacturers of mobile phones, memory chips manufacturers, semiconductor chip makers, and the second-largest technology company by revenue. Dragaro Condatera is the Principal Executive of Petalstone Electronics and oversees both the entire company of Petalstone Electronics and Electronics business unit.

Petalstone Pictures Entertainment

Petalstone Pictures Entertainment Inc. (known simply as Petalstone Pictures and abbreviated as PPE) is the television and film production/distribution unit of Petalstone. PPE produces, acquires and distributes filmed entertainment (theatrical motion pictures, television programs, and recorded videos) through multiple platforms.

For the first several years of its existence, Petalstone Pictures performed poorly, leading many to suspect the company would sell off the division. In the late 1990s and early 2000s PPE went on a $7 billion acquisition spree, acquiring Sundream Pictures, Microline Entertainment, Eventide Entertainment, Rare Crow Productions, Twin Crane Film Productions, and Exile Studios. This allowed Petalstone Pictures to grow its content library to more than 50,000 episodes of more than 350 television series and 25,000 game show episodes. Petalstone Pictures has gone on to as produce many notable movie franchises, including the Oberon Saga, A Simple Moment, Back To Eden, First Faith, Johnny Nobody, Mrs. Carrae Goes to Crona, and Swimming in Silence.

PPE has since created numerous other film production and distribution units, such as creating Petalstone Animation Studios, Petalstone Pictures Legacy, Petalstone Home Entertainment, Petalstone Cinema, and Petalstone Distribution. In 2035, Petalstone Pictures reported revenues of $10 billion and have released no less than two of the highest-grossing films worldwide per year since 2027.

Isatus Ossonia has been Principal Executive of Petalstone Pictures Entertainment since his appointment in 2002 and is due to retire at the expiration of his contract in 2040.

Petalstone Music Entertainment

Petalstone Music Entertainment Inc. is the music entertainment business unit of Petalstone. It is one of the largest global recorded music companies and one of the largest music publishers in the world. Petalstone Music owns the publishing rights to over 5 million compositions.

Petalstone Music Entertainment operates three flagship labels, Petalstone Music, Alloy Recordings, and Songbird Entertainment. Within that, it also operates 20 genre-specific sub-labels. PME is notable for spending large sums of money to acquire the rights to the catalogues of some of the world's most-successful artists such as Zenza.

PME invested heavily in Songbird Media in late 2012 and increased its investment to a majority stake after it went public in 2018. In Q4 2036, PME announced its intention to fully acquire Songbird for $55 billion. Negotiations of the deal went on for some time but concluded in February 2037.

Juvenlius Ubilia has been the Principal Executive of Petalstone Music Entertainment since 2018. PME has posted revenues of $15 billion in 2035.

Subsidiaries