Goodyear tops Fortune’s global most admired list
Posted 3/10/2008 Fortune Magazine
Goodyear has been recognized as the world’s most admired motor vehicle parts company by Fortune magazine.Goodyear topped the list of leading companies in four key attributes: innovation, people management, use of assets and global orientation.Among motor vehicle parts companies in the Fortune Most Admired Companies in America list, Goodyear was also judged the best in regard to innovation and the quality of its products and services.”This recognition by our industry peers is something of which we should all be extremely proud,” said Chairman Bob Keegan. “Not only did Goodyear lead our industry category, but we were well ahead of our global tire competitors.”Michelin finished seventh in the listing of 15 global companies. Bridgestone was 10th and Continental ranked 14th.”When you stop and think about where we were five years ago, nowhere near the top of this list, you start to see what we meant in the early days when we outlined our Reasons to Believe,” he added.Keegan said the acknowledgement of Goodyear’s innovation is, likewise, the result of the company’s commitment to its strategy and undoubtedly a testament to its successful new products.
“We are passionate about innovation and quality,” he said. “Our associates are innovating across every facet of our business, not just the new product stream.”
The distinction follows the Feb. 22 recognition by The Wall Street Journal for leading shareholder return for the past five years in the automotive category and recent acknowledgement that Goodyear was among the Top 100 Corporate Citizens selected by Corporate Responsibility Officer magazine. “We see these recognition achievements as both validation of our strategic direction and continuation of our position momentum,” Keegan said.
In an e-mail to associates about the Fortune recognition, Keegan wrote, “Now you can start to believe what is possible if we continue the positive momentum that we have driven by successful execution against our strategies. There is no question that we now have the attention of our peers. We now have their respect. In many ways, that makes continuing the momentum more difficult because we now become the target. I don’t know about you, but I wouldn’t want it any other way.”
He continued, “We still have challenges ahead of us in an uncertain economy, but there is no question that we are on the right path. We know it, and our peers know it. Thank you for helping earn this distinction. Now, let’s show the world what we can really accomplish.”
The 2008 Fortune listing of Most Admired Companies in America placed Goodyear, once again, at No. 2 in the motor vehicle parts industry. Johnson Controls repeated as No. 1. Bridgestone, the only other tire company to make the list of 11 firms was sixth, down from third last year.
