Message to Shareholders
Welcome to summer, one of the most beautiful times of the year in Alaska. I’m happy to report that Doyon is doing well financially, in spite of the tough economic climate in Alaska we continue to face due to low oil prices.
The board of directors just finished its strategic planning session in early May. Strategic planning is an important process for the board and company leadership to conduct to plan for Doyon’s future, mitigate risks and capitalize on opportunities. The board discussed succession planning, shareholder opportunities, balance sheet planning and business opportunities. Doyon’s business focus is Transformation because of what is ahead of Doyon and the proactive, long-term planning that must take place. It’s a very exciting time for us and I’m excited to continue the work necessary to ensure long-term success at our company.
Over the winter, seismic work was conducted in the Nenana/Minto basin, which is a precursor to future development of the area. The detailed results of seismic data gathered this spring and winter are being analyzed, and we expect to learn more about the outcome in the coming months. I am pleased to report that Doyon worked closely with the Minto Development Corporation (MDC) while the seismic activity was taking place. MDC actively recruited and hired a total of 37 shareholders for a variety of positions, including 35 bear guards, one surveyor and one cultural adviser. This working relationship has been a successful one because of MDC’s efforts to ensure shareholders were trained and ready to work when the project commenced.
The Fairbanks Chamber of Commerce pleasantly surprised us a few weeks ago when they awarded Doyon, Limited with the Family Friendly Workplace Award for a large business. I was especially pleased because several Doyon staff nominated us for the award. The nominations recognized all of Doyon’s family-friendly events, including our Thanksgiving and Christmas luncheons, Halloween carnival, Fourth of July picnic and back-to-school events. Nominations also acknowledged the quality leave and health benefits we provide, and special efforts we lead, such as the Christmas is for Kids program.
I wish you success with fishing and other subsistence activities over the summer. Enjoy the bounties of the season and be safe. Thank you for your continued support of Doyon and all our employees.
Aaron M. Schutt
President and CEO