Over the past several years, in the face of a difficult and uncertain economy, our company has gone through some major changes. We believe the transformation has made us a stronger company, and while it wasn't easy, we're better situated because of it. If you've followed Leggett & Platt over the years, you've heard us recount the strategic changes and watched us measure our progress against our stated goals.
It all starts with people. We recognize that Leggett & Platt is only as strong as the combined capability of the people who embody it. To fully leverage our people capabilities, we will focus on:
Leggett & Platt is a diverse company participating in a wide range of markets. While our residential bedding businesses have been important to us for over 130 years, we've also branched out into home furniture, automotive, office furniture, aerospace components, and many other areas over the decades. It is crucial that we actively manage this collection, or portfolio, of businesses to consistently achieve our long-term goals.
Preserving and building upon Leggett & Platt's unique culture is a high priority for all of us. Some changes to our culture are predictable and desirable. But we want to preserve the bedrock elements – our core values – that help define who we are.
Our overarching financial goal is to deliver Total Shareholder Return (TSR) in the top third of the S&P 500 over rolling three-year periods. Achieving that goal requires 4-5% revenue growth per year, on average, and consistent improvement of our margins.