We just learned that Fortune magazine has identified Goodyear as the World's Most Admired Motor Vehicle Parts Company in its March 17 international issue and online at www.fortune.com. On the heels of the Feb. 22 recognition by The Wall Street Journal for leading shareholder return for the past five years in the automotive category and the recent acknowledgement that Goodyear was among the Top 100 Corporate Citizens selected by Corporate Responsibility Officer magazine, this Fortune honour continues a remarkable string of achievements for Goodyear.
"Rivals are often the first to take notice of failures and the least likely to praise successes. Which is why securing a top spot on the World's Most Admired list is a distinction worth celebrating. It means a company's toughest critics - their peers - consider them the best representatives of the industry.
In the Fortune article entitled "Global Stars," reporter Jenny Mera wrote:
"While there are some longstanding titleholders, like Anheuser-Busch and DuPont, this year nine industries appointed new leaders. For instance, Textron, which makes Cessna jets, cruised up six spots, outpacing airline giant Boeing in the Aerospace and Defense industry. Meanwhile, steel stalwart ArcelorMittal now dominates the Metals category after its Canadian counterpart, Alcan, slipped to seventh place. And Goodyear Tyre & Rubber gained the traction it needed to lead the Motor Vehicle Parts industry, leaving Toyota Industries behind at No. 2."
We earned the No. 1 rating in several categories: Innovation; People Management; Use of Assets and Global Orientation. We were ranked second globally among motor vehicle parts companies in: Product Quality; Community Environment and Long Term Investment.
This recognition by our industry peers is something of which we should all be extremely proud. 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 the strategic drivers of our business, or what we referred to at the time as "Reasons to Believe."
Now you can start to believe how significant our future possibilities are if we continue the positive momentum that we have driven. There is no question that we now have the attention of our peers. We now have their respect. In some ways, that makes continuing the momentum more difficult because we now have become the target. Like me, I'm sure you wouldn't want it any other way.
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 and other distinctions. Now, let's show the world what we can really accomplish.
Bob Keegan
