Chairman's Newsletter: August 2024

Greetings, WWT family and friends,

At this time every year, I find myself reflecting on how quickly the year is progressing. It seems the older we get, the faster it seems to go! I am grateful for the blessings of God on my life, my family and WWT. As I think about our humble beginnings as a company – just five people in a small office space – I stand amazed at what God has done and give Him all the glory and honor!

WWT Board Update

During our July board meeting, we discussed WWT's performance and outlook. Though we had a very strong first quarter, many of our clients are focusing on their AI planning activities, which has resulted in a slowdown in their Q2 spending. However, strong months in May and June combined with our own cost-saving efforts has us still on track to meet our budget forecast for the total year. Thank you to everyone for your dedication to bringing us in on target. 

Project Catalyst was launched with McKinsey & Company in Q4 2023 with the goal of adding incremental net margin each year through tactical pricing initiatives. During our July board meeting, we reported these initiatives are full steam ahead and predicted to deliver an approximate $12 million impact in 2024. We are confident this project will sustain margin improvement and help us ensure continued growth.

The board continues to be engaged with Jim Kavanaugh and the executive leadership team as our strategic plan unfolds. We are excited about the opportunities in our strategic priorities of cloud, digital and cybersecurity. All of these areas are, of course, driven by our comprehensive AI strategy and the significant investment we continue to make. Our world-class ATC is a cross-cutting platform that supports all of these initiatives as we serve our customers and partners with the best technology delivery leadership in the marketplace. 

Our board and I are very excited about our recently announced Middle East partnerships. These new collaborations enable WWT to expand its international footprint further. 

In May, we announced WWT's Memorandum of Understanding (MOU) with NXT Global to build and deliver the United Arab Emirates' (UAE's) first AI Integration Center in Masdar City, Abu Dhabi's growing technology district. WWT NXT Global will become a part of WWT's global integration ecosystem, which spans over 4 million square feet of warehouse and integration space, thereby cementing Abu Dhabi and the UAE's current global AI leadership position. It will also provide the backdrop to be a leader and pioneer of AI in the future ensuring Abu Dhabi will be the global top AI destination.

Broadening our international expansion, WWT has partnered with Aramco Digital to spearhead the development of an AI-powered Digital Innovation Economy in Saudi Arabia. This partnership will help transform the Saudi economy, including key industrial sectors such as energy and healthcare, by integrating advanced AI solutions and unlocking new opportunities for the country. 

These two partnerships continue to enable WWT's ambitions to drive technological growth and become the transformational innovation enabler of the Middle East region.

In addition to these exciting developments, I am very pleased to announce Jair Clarke has joined our team as a WWT Board Advisor, reporting directly to me. 

Jair is CEO and Chief AI Officer of Laigic, a supplemental AI and tech consulting/advisory firm. He previously served as a global CTO with Microsoft responsible for all technology and processes at scale to empower customers, partners and sellers. I invite you to learn more about Jair's extensive background by reading his bio and join me in welcoming him to the WWT Board Advisor role! I know his extensive technology experience – specifically with AI – will be a tremendous asset as we look to the future. 

Corporate Highlights

Thanks to Jim and team for providing an informative corporate update with many inspiring moments like the recognition of all the global Great Place to Work rankings! It is so exciting to see the prevalence of our strong and growing culture around the globe, which is exemplified by six additional countries that have achieved GPTW certification. WWT's GPTW designation now includes all the following countries: Australia, Brazil, China, Costa Rica, Hong Kong, India, Mexico, Netherlands, Singapore, United Kingdom and United States – CONGRATULATIONS!

Speaking of global, WWT employees around the world are making significant social and environmental impacts that are creating a better future for all! From providing educational resources to over 3,000 students in India; to increasing digital literacy for more than 4,000 in marginalized communities in the U.S.; to preserving the environment in Costa Rica, our employees are literally making a new world happen, which inspires me every day!

Getting down to global business, Matt Horner shared the importance of our relationship with NVIDIA and how they are transforming the global market. I encourage everyone to embrace the partnership. Together, let's enable and harness the true potential of those technologies.

I want to congratulate WWT for scoring 100 on the Disability Equality Index. I also want to thank everyone who has received special awards and recognitions this year, including those who have reached milestone work anniversaries. Thank you for sharing your gifts and all that you do for WWT! 

I always look forward to this time of year when I have the opportunity to speak with our interns before their time at WWT comes to an end. This year the group consisted of about 150 bright young people who joined WWT for the 2024 summer internship program. General Bob Ferrell posed the questions collected from the group, which ranged from "what was my vision for the company when WWT was founded" to "what was the inspiration behind the bi-weekly prayer calls" to "what are the most exciting projects we are currently exploring." 

I enjoyed talking about WWT's history and future and sharing some fun stories of "the good ole days." We received tremendous feedback on the event, and I am thankful to each of the interns for joining me for this very special Chat with the Chairman. May God continue to bless and guide you on the path He would have you walk.

WWT Raceway 

The 2024 Enjoy Illinois 300 was another great race with an exciting finish! Austin Cindric from Team Penske brought home his second NASCAR Cup Series trophy after his two closest opponents, Christopher Bell and Ryan Blaney, experienced engine failure and ran out of gas leading into the final lap of the race, respectively. 

Thelma and I enjoyed hosting a delightful pre-race dinner with friends at The Steward Center for Jazz. The annual dinner included great food prepared by Chef Greg Maggi and his team and wonderful entertainment by South Bronx jazz musician Carlos Henriquez Nonet.

We were pleased to welcome several of our board members, customers and friends to our World Wide Technology Raceway suite for Sunday's race. We are always thrilled to welcome our great friend, Richard Petty, and thank him for his visits to our suite and the WWT employee hospitality tent.

Speaking of the WWT employee hospitality tent, we hosted more than 350 employee families on race day to enjoy complimentary food and beverages in our environment-controlled tent. We received some great feedback from those in attendance including these quotes: 

• "The employee hospitality tent was great. I really appreciate WWT offering something like that so we can take our family and friends before the race. It was great. Thank you!"
• "Wonderful all around. I am very thankful for everyone's efforts and everything you all put on for us. Truly awesome!!!​"
• "My kid and I had a blast! We got some temporary tattoos, got to meet a race car driver, food was delicious! Best of all was the reprieve from the sun!"

I was able to, once again, take a walk down STEM lane! The WWT team of volunteers, led by our GSP Business Development team, created a fun, interactive and educational experience for children and families. This year, we were able to partner with Amazon Web Services (AWS) which provided an autonomous racing simulator experience called Deep Racer, which was a big hit! STEM Lane never disappoints, and I look forward to what's in store for next year! 

I am truly grateful to everyone who worked so diligently to make the third Enjoy Illinois 300 a great success!

Now, it's onto the 8th Annual Bommarito 500 IndyCar Race on Aug. 17 and then the NHRA the weekend of Sept. 27!

WWT Golf Tournaments

Planning is well underway for this year's World Wide Technology Championship, the annual PGA TOUR tournament we host in Cabo San Lucas, Mexico. The tournament, which will be played in early November, is a testament to WWT's power to convene partners, clients and our own people to foster positive change – both in the community and within our client organizations.

Throughout the tournament week, WWT will work with the Diamante Cabo San Lucas chapter of First Tee, a youth development organization that enables kids to build strength of character through the game of golf, and host a golf clinic for members and their families. A portion of the World Wide Technology Championship's proceeds will be donated to the local First Tee chapter as well.

While planning is in full tilt, competition is also heating up. Earlier this month, WWT was pleased to extend an automatic qualifier invitation to Andrew Walker, who won the APGA Ascension Classic hosted at the Glen Echo Country Club here in St. Louis.

As many know, I am passionate about creating opportunities for others – particularly in places where underserved communities are conspicuously absent. WWT's partnership with the APGA is a prime example. The APGA is a nonprofit organization working to prepare minority golfers to compete and win at the highest level of golf. The Player Development Bonus Program is designed to provide select APGA members with financial assistance, access to PGA TOUR qualifying opportunities and additional promotional opportunities as they continue chasing their dreams in professional golf. 

DEIB Summit 

"Beyond Diversity: Achieving Equity, Inclusion and Belonging in Business," was this year's DEIB Summit theme and boy did our esteemed group of presenters educate and inspire us with their thought leadership, perspective and insights around this theme! 

Featured speakers included leaders from Cisco, UKG, Great Place to Work, DHL, Centene, Google and Moon and Associates. I am thankful for this group of individuals. They were truly a blessing. I want to also thank our very own Board Member, Priscilla Ardoin Hill, who spent the day with us and closed out the Summit with her inspiring words! 

Everyone who participated in the Summit exemplifies a greater effort to improve our organizations and communities through diversity, equity, inclusion and belonging. I share here a quote from one of the Summit participants that I believe sums it all up:

"Wow, what an incredible summit! I could tell that our DEI team poured their hearts and souls into preparing for this event. The range of perspectives and thought leaders that were brought to the table was truly impressive. This summit provided some of the most compelling information I have ever come across, highlighting why DEIB will continue to be a top priority for businesses everywhere. The amount of passion and genuine emotion that was shared on the main stage was truly inspiring. A massive thank you to our amazing DEIB team for organizing this event for the second year in a row and making it accessible to the public. I am already eagerly anticipating next year's summit! Thank you all for your commitment to DEIB - the impact is huge!" 

– 2024 DEIB Summit Participant

If you did not get a chance to attend the 2024 DEIB Summit, you can check it out here - Recapping 2024 DEIB Summit (wwt.com).

Horizon Event 

In late July, I joined more than 2,000 innovators and change makers who came together at Horizons in Washington, DC, to learn about Jobs for the Future (JFF) and their quest to transform education and workforce systems. On the event's main stage, alongside Earl Lewis, Chairman of Educational Testing Service (ETS) and Maria Flynn, President and CEO of Jobs for the Future (JFF), I was honored to announce a partnership between ETS (the innovation arm of JFF), JFF Labs, and AstrumU which will begin to tackle the $8.5 trillion talent shortage existing today using an innovative AI-driven solution developed by AstrumU. AstrumU is a portfolio company of my values-driven investment firm, Kingdom Capital, and I am blessed to serve as the Chairman of AstrumU.

This cross-sector partnership will enable skills-based learning outcomes, promote skills-based hiring, and unlock the skills-based economy by providing verified skills profiles and recommendations leading to quality jobs – an unprecedented moment! The national and global implications go far beyond JFF and can change the entire global economy by helping to create a new middle class in rural America and our urban centers where previously there seemed little to no opportunity for upward mobility. 

I am extremely excited about this partnership! I have often said talent is equally distributed, but opportunity is not. This partnership will help make opportunity equal for all and improve workforce readiness across the nation and beyond. This embodies my personal commitment to creating an Eternal Return on Investment (EROI) in the spirit of:

Together with ETS, JFF and other partners, AstrumU will make a meaningful and lasting global impact. Iron sharpens iron!

Ministry

I am excited to share that the first open house hosted by Biblical Business Training on May 8 was a tremendous success! The event was an opportunity for many of our participants in virtual BBT Bible Study classes to meet in person for the first time. It was a wonderful time of fellowship, and we are looking forward to many open-house events in the future. If you are interested in participating in a workplace Bible Study, check out opportunities at b-b-t.org. 

We have had the pleasure of enjoying some amazing guest artists and speakers on the WWT Family and Friends Prayer Call over the past few months. From well-known to local and urban to rural, we have been blessed by artists and speakers from myriad backgrounds. It is such an honor to be able to minister to others through this platform, and I am truly grateful for the team that makes it all happen. If you have missed any of the calls and would like to view them, you can find all the recordings here. 

We have a team of over 20 faithful members who regularly lift up the many prayer requests we receive each week. If you would have a prayer request, you may send a confidential email to prayer@wwt.com. 

For many students who have enjoyed a break from school, it is the time of year when classes will be reconvening soon. This is also true for students at The Thelma Steward Destiny Academy (TSDA) in the Dominican Republic. This year Rick & Isabella Pina Ministries distributed 750 backpacks full of essential school supplies. The 200 students that attend TSDA each received a backpack, while 550 were distributed across several underserved communities in LaVega, Dominican Republic.   

Thelma and I are so honored to support RIP Ministries and all they do to serve "the least of these." We are grateful to Rick and Isabella and all of the RIP Ministries family for meeting the educational needs of these precious children, but more importantly for sharing the love of Christ and the Word of God with them and their families. As Isaiah 55:11 tells us:

Praise God for all He is accomplishing through these faithful servants!  

We give all glory and honor to God for his faithfulness through each of these ministry opportunities. As always, participation in any of these platforms is completely voluntary and based on your own personal beliefs.

Family Matters

The past several months have been filled with a flurry of activity for my family. 

Thelma and I were blessed to celebrate 48 years of marriage in May. Proverbs 31 tells us, "A wife of noble character, who can find? She is far more precious than rubies." Thelma has been such a blessing in my life. We have been through good times and bad together, and she has always been a faithful companion by my side. No man could ask for a more dedicated and loving partner.

Of course, our greatest blessings as a married couple have been our children and grandchildren – Dave II, Kimberly, Trey and Julian – of whom we are humbly proud.

Dave II continues to forge new paths with his company, Lion Forge. While we anxiously await the premiere of his new animated series, Iyanu, a new collaboration was announced between Lion Forge and Kiddazzle to create a toy line based on this forthcoming animated superhero series. Iyanu is richly steeped in Nigerian culture, and we cannot wait to see the response to this unique animation project!

Kimberly recently participated in the Fresh Air Fund camp to provide a day of beauty, self-care and dancing. Since its founding in 1877, this nonprofit organization has provided life-changing summer experiences in the outdoors to more than 1.8 million children from New York City's underserved communities. Kimberly also recently partnered with KPMF's Narrative Journalism Program and Epic Magazine to support journalists who want to craft narrative long-form nonfiction, an endangered art form in the modern media landscape. Program participants will publish a minimum of two stories per year that have the viability to be adapted into a fiction or nonfiction project (feature, series or podcast) and drive meaningful impact.

While there have been tremendous times of happiness these past months, our family has also experienced some heartbreaking moments of sadness.

The world lost one of the greatest jazz musicians to ever play on May 12. David Sanborn was a masterful saxophonist who blessed so many people across the world. His talent crossed musical boundaries and genres throughout his entire career. He was a tremendous musician who received the inaugural Steward Center Lifetime Achievement Award just months ago and a dear and beloved friend to the Steward family. Our deepest and most heartfelt sympathies remain with Alice, his loving wife. 

Last month, the St. Louis community lost the tremendously talented Edwin Pepper. Edwin and his wife of 70 years, Lenore, are the owners of Edwin Pepper & Associates, which touched the lives of many in our community with their impeccable eye for interior design. Thelma and I always affectionately called him Dr. Pepper, as our friendship grew over the years. We extend our deepest condolences to his family.

There were several more friends of our family who also have left this life over the past several weeks. It is a poignant reminder that our time on Earth is but a vapor. We should always strive to value each day we are granted. As Colossians 3:12-14 teaches us, "…clothe yourselves with compassion, kindness, humility, gentleness and patience. Bear with each other and forgive one another if any of you has a grievance against someone. Forgive as the Lord forgave you." 

Our time here is too short to carry grudges and live with hatred in our hearts, my friends! Faith, hope and love are amazing gifts from God, but the greatest of all of these is love (1 Corinthians 13:13).

A Special Encouragement

Over the years, I have received many very thoughtful and encouraging notes from employees, friends, customers, and partners. Whether offering suggestions for change or expressing thanks, I am truly appreciative when someone takes the time to communicate their thoughts to me. A few weeks ago, I opened my inbox to find an email from a WWT employee that left me humbled, honored, and ever-so inspired. I want to share an excerpt with you because I believe it is the embodiment of the culture we strive to create at WWT. I pray you will also be inspired by his words:

Dave,

I recently celebrated my five-year anniversary with the company, and it has been an extraordinary journey that I am deeply grateful for. Reflecting on these past five years, I am filled with immense appreciation for your unwavering commitment to God, this company, and all of us who work here. Your leadership has created an environment that feels like family, fostering friendships and connections that are truly unparalleled. 

Having served in the Air National Guard for the past 16.5 years, I thought I had experienced the epitome of camaraderie and support. However, the sense of belonging and the strong bonds I have formed with my WWT family in just five years have been nothing short of remarkable.

Working here has not only made me a better employee, but it has also shaped me into a better person, salesman, and engineer. The experiences and growth I have gained are invaluable, and I am continuously inspired to contribute to our shared mission.

Thank you once again for the incredible opportunity to be a part of this amazing team. I am beyond grateful and committed to helping our customers achieve their missions, ultimately driving more success for our company.

Thanks again, and God bless. Tyler 

Thank you, Tyler, and your beautiful family for all you do to continue to make WWT a Great Place To Work For All!!

In Closing 

I am pleased to share with you the devotion from the July board meeting. This devotion is one that rang so true to me and the entire board, as its theme was about God's amazing grace. Amazing Grace – how sweet the sound! I pray you will enjoy reading this devotion. 

I know the world continues to grow darker with each passing day. It seems hatefulness is at an all-time high with violent crimes dominating the headlines. Adding to the already tumultuous environment, election seasons tend to bring out the worst in many, and this year will be no different. In fact, it may be worse in many regards.

Regardless of your beliefs or background, I encourage you to take a moment to reflect on the many blessings in your life and realize there is always something for which to be grateful! For me and my family, we remember who is on the throne – our God remains in control! 

May God continue to richly and abundantly bless you and your precious families.

God bless,
Dave