STMicroelectronics named in Fortune magazine’s “World’s Most Admired Companies” list for 2010
Date: Mon, 06/07/2010 - 15:43
STMicroelectronics, one of the world’s leading semiconductor companies, recently announced that it has been named one of the “World’s Most Admired Companies” in the semiconductor category of Fortune magazine’s 2010 annual ranking
Among semiconductor companies evaluated, STMicroelectronics is ranked the 6th most admired, in its first year as a participant in the survey. Additionally, it is by far the highest-ranking Europe-based chipmaker on the list.
The “World’s Most Admired Companies” survey, which debuted in the U.S. in 1983 and began ranking companies worldwide in 1997, is the “definitive report card on corporate reputations.” To participate in the ranking, companies must be either Fortune 1000 businesses, non-U.S. companies on the Fortune Global 500 list, or top foreign businesses operating in the U.S.
Companies are rated by their peers based on nine factors including quality of products or services, quality of management, global competitiveness, and soundness of financial position to name a few.
“It is especially gratifying to have such a positive acknowledgment of our reputation and leadership, especially as this is the first time we’ve been part of the survey,” said Alain Dutheil, Chief Operating Officer of STMicroelectronics. “The ST of today is a much stronger company: it has protected its efforts in R&D and product development over the past year, while dramatically improving its net financial position; we believe this progress is why top executives throughout our industry hold ST in such high regard.”
This year approximately 4,170 top executives, directors, and financial analysts assessed companies in their own industries, and voted on companies being considered for the overall most admired list. A total of 667 companies from 33 countries across 55 industries were surveyed.