Celebrating with a difference: IR Magazine Continental Europe Awards

The 2008 IR Magazine Continental Europe Awards were unconventional but celebratory in strained economic circumstances

The 10th annual IR Magazine Continental Europe Awards were a little different from previous years. Amsterdam’s Hotel Krasnapolsky provided the same opulent venue the event had used in 1999. And many of the faces were the same as those present for the event’s inauguration, give or take the odd wrinkle or gray hair here and there. The mood, however, had certainly changed.

A hint of uncertainty and apprehension pervaded the colorfully illuminated air of the main dining hall. Turnout was good at more than 250 people, though a few familiar names had to drop out at the last minute owing to internal crises.

Despite the backdrop of financial unease, however, few objected to being asked to celebrate that little bit extra on behalf of those unable to attend to receive their award. The request even raised a cheer of support.

Roland Koopman, presenter of Dutch television station RTL Z’s daytime news program, trod sensitively around the financial Armageddon as he reeled off the stars of Europe’s IR community. There were a few awkward moments, when Koopman had to remind us as tactfully as possible that Fortis, nominated to win both best takeover and best IR by a Belgian company, is now a mere shadow of its former self. Back in the spring when analysts and investors voted for the winning companies, Fortis seemed a long way from being carved up and nationalized or sold off by the Dutch and Belgian governments.

As it turned out, Umicore picked up the prize for best Belgian IR and Heineken won the best takeover trophy for its IR in support of the acquisition of Scottish & Newcastle. Heineken’s head of IR Jan van de Merbel said this was no easy process: ‘The shareholders complained we were paying too much, Scottish & Newcastle thought we were paying too little, everyone said we didn’t communicate enough, and the UK Takeover Panel thought we’d communicated too much!’

As with previous years, one company cropped up again and again: German energy giant E.ON won the grand prix for best overall investor relations, and the awards for best corporate literature, best use of technology and best IR by a German company. So, just as in previous years, the familiar face of Kiran Bhojani kept reappearing on stage, proffering words of modest thanks and praise to his team.

Swan song
But all that’s now due to change. Bhojani made the shock announcement on stage: ‘I’ll be stepping down after 17 years in IR at E.ON to join a consultancy firm as managing partner,’ he told surprised attendees.

Later in the evening, the surprise shifted to Bhojani himself when he was given a special accolade by IR magazine’s founding editor and now managing director Janet Dignan: a framed IR magazine front cover dedicated to his work.

‘Over the past 10 years, Kiran has been nominated for more than 30 awards at the IR Magazine Continental Europe Awards,’ Dignan reminded guests as she praised the exemplary work of the IR star. And there was further evidence of his commitment to IR: Bhojani had broken his holiday in Kos to fly to Amsterdam and be at the awards ceremony.

His comments to the audience hinted that this is a level of dedication he’s happy to be leaving behind. ‘Life is worth more than the share price,’ Bhojani told the amused audience. ‘Don’t let the BlackBerry drive you; you drive the BlackBerry.’

One award winner was so delighted at winning that he jumped up and knocked another winner’s award clean out of her hands. The poor man was clearly mortified so IR magazine won’t name him, especially as he did buy the lady in question a bottle of Champagne to kick-start a night of post-awards celebrations in true IR magazine style!

The winners

Grand prix for best overall IR (large cap)
E.ON (Germany)

Grand prix for best overall IR (small cap)
Umicore (Belgium)

Best investor relations officer (large cap)
María García-Legaz Ponce – Telefónica (Spain)

Best investor relations officer (small cap)
Tim Weekes – Umicore (Belgium)

Best crisis management
Groupe Société Générale (France)

Best practice of corporate social responsibility
Iberdrola (Spain)

For a full list of winners, please visit:
www.irmagazineeuro.com.