Jennifer Kay Driscoll
Caterpillar Inc.

 

Director - investor relations, E. I. du Pont de Nemours, August 2015 to present
DuPont, a global chemicals company, is merging with Dow in October/November 2016 and intends to spin three public companies in 2018. Was hired following significant rotation in the IR department. Jointly (with Dow’s IRO) plan and execute the IR work stream for the merger and integration. Serve on the joint committee overseeing the integration with Dow. Work closely with Dow on creation of DowDuPont IR program and policies, in line with best practices. Manage the expectations of one third of the sell-siders who cover DuPont. Build relationships with shareholders and potential shareholders in New York, the West Coast and Asia. Write scripts and other materials for CEO and the COO of one of the intended spins. Write earnings summaries for two of the company’s reporting segments. Represent the company on U.S. and Asia road shows and at investor conferences. Join meetings with activists and proxy voting contacts. Accomplishments: Investors have said DuPont’s earnings scripts are markedly better. The quality of investors offered meetings at conferences has improved. Streamlined the earnings process. Tiered the buy-side and sell-side analysts to provide differentiating levels of service. Created a disclosure policy consistent with best practices. Provided sound strategic counsel and accurately predicted investor questions about the Dow/DuPont merger, a CEO transition, an earnings miss and a positive earnings surprise. Provided top executives with training on the securities industry. Helped the senior executive to which I was assigned significantly improve his abilities as an investor spokesperson.

Vice president - investor relations, Campbell Soup Company, June 2009 to August 2015
Recruited to set the IR strategy, consistent with best practices, for this $8 billion multi-national soup sauce and cookie company. Executed a plan to retain current holders and to attract significant new holders with a robust roadshow program and communications closely aligned with the company strategy. Assisted in maintaining a fair valuation by strengthening relationships with buy side and sell side analysts and communicating in a transparent way about strengths and opportunities. Completed roadshows in North America, Europe and Japan with the CEO, with the CFO or solo. Oversaw a senior manager and a specialist with a budget of $1.4 million. Tracked peer activity, reported on peer earnings and shared competitive intelligence with senior management. Worked closely with peers in global communications, legal and HR on material announcements to ensure consistency in messaging; assisted with media inquiries as needed. Highlights: Helped management maintain credibility despite weakness in earnings growth and downward revisions to guidance. Provided strategic counsel to the CEO and CFO, ensuring a seamless transition for the new CEO with little Wall Street experience and the new CFO. Built solid investor support for four acquisitions and a divestiture. Identified and recruited new top-10 holders. Convinced the board to accelerate a dividend ahead of a dividend tax increase. Retired treasury shares to cut listing fees by 40%. Streamlined the earnings process and earnings materials, increasing efficiency without sacrificing transparency. Shifted the entire IR program from a sell-side orientation to a buy-side orientation. Was nominated by the buy side as the best IRO in the U.S. food industry. Created an activism preparedness plan. Worked for a fantastic CFO for five years and did not speak to recruiters until after he retired.

VP of investor relations and public relations, Best Buy Co. Inc., January 2001 to May 2009. Promoted from director of IR to vice president of IR. Then named vice president of IR and PR.
Significantly increased sell-side coverage for the $50 billion multi-national electronics retailer. Focused on maintaining and attracting new institutional investors with lower turnover rates. Served as executive speechwriter and wrote the letters to shareholders in addition to drafting all earnings materials. Counseled management on crisis communications and successfully communicated a variety of significant announcements, including acquisitions and divestitures of private and public companies. Brought the shareholders’ perspective to the board and worked closely with the committees on matters such as corporate governance, executive compensation, social responsibility and shareholder resolutions. Worked with board members as needed to avoid or to resolve shareholder proposals. Oversaw a senior director, director and assistant in investor relations; after a restructuring, assumed added responsibility for two public relations directors and a dozen PR people. Highlights: Created an investor relations department from scratch. Was honored as one of the top 100 investor relations teams in the country. Increased sell-side coverage by 60%. Won national awards for the annual report and Geek Squad publicity (including three New York Times placements the same day). Dramatically increased the company’s coverage in the media by using as spokespersons technology experts from the retail stores. Created the company’s first corporate social responsibility report and launched a brand management effort. Was considered an honorary member of the governance committee of the board. Was recruited by Campbell Soup and agreed to relocate to the Philadelphia area in exchange for a salary increase, a better bonus outlook and more stable margins.

Managing director of investor relations and public relations, RBC Capital Markets (then Dain Rauscher, an NYSE-listed company), May 1993 to January 2001. Promoted from manager - public relations to director of public relations, to vice president of public relations, to managing director of public relations, to managing director of investor relations.
Learned all aspects of Wall Street while managing public relations, crisis communications, internal communications, community relations and investor relations for a $2 billion brokerage and investment banking firm traded on the NYSE. Managed a team of 6 to 10 people and several public relations agencies across the United States. Earned executives’ trust by providing communications leadership on several acquisitions, a merger, a downsizing, a corporate name change and ultimately the sale of the company to Royal Bank of Canada (RBC), for $95 per share. After the merger closed, I declined a role as managing director of strategic planning and corporate development (reporting to the CEO) in order to accept the top investor relations job at Best Buy. Highlights: Installed a professional-quality camera on the equity trading floor and dramatically increased national media coverage with regular analyst appearances on CNBC. Increased sell-side coverage. Boosted institutional ownership to 52% from 36% in two years while reducing turnover rates. Personally planned and executed U.S. road shows and conference presentations. Received national awards for the annual report and PR programs.

Volunteer experience
President of the Philadelphia chapter of the National Investor Relations Institute (NIRI), 2014-2016. Past president of the Twin Cities chapter of NIRI. NIRI member, 1998-present. NIRI Senior Roundtable member, 2008-present.
Finance committee member and clarinet player for a local church, 2013-present.

Education

  • University of St. Catherine, St. Paul. Bachelor’s degree in English with a business minor. Editor of college newspaper. National Merit scholar. Worked full-time my senior year and graduated tenth in my class.

  • University of St. Thomas, St. Paul. MBA degree with a finance concentration. Graduated with a GPA of 3.8 while working full-time.

  • Investor Relations Charter holder (a new national IR certification program).

  • Completed the Securities Industry Institute’s three-week seminar at the University of Pennsylvania – Wharton.

  • Recently took an online refresher course in financial reporting from Drexel University.

Board Term
2015 - 2018