Dubai, UAE, March 13, 2002 ---- The General Electric Company (GE) has been named World's most admired company for the fourth successive year in the annual survey conducted by Fortune Magazine. In addition, it retains its leading position as America's most admired company for the fifth year in a row.
The magazine cites GE's depth of management strength and its consistent performance as reasons for its continuing place atop the list of both world and America's most admired companies.
"FORTUNE's Most Admired seem to perform at their best when the heat is on, consistently delivering to shareholders, customers and employees," FORTUNE writes in its March 4 edition.
According to Nabil Habayeb, National Executive, GE Gulf, "We are proud to have been awarded the honour of being ranked the most admired company, both globally and within the U.S. It is a positive reflection on GE businesses worldwide including the Middle East - one of the company's fastest growing regions. This recognition has further reinvigorated our efforts to bring the latest, cutting-edge technology to the doorsteps of our regional customers."
To produce the list, 10,000 executives, directors, and securities analysts are asked to rate companies in their own industries based on eight criteria: innovation, financial soundness, employee talent, use of corporate assets, long-term investment value, social responsibility, quality of management and quality of products/services. To come up with the top ten list, respondents select the ten companies they admire most in any industry.
FORTUNE's results mirror the results of surveys of top business executives by the Financial Times, which has named GE the World's Most Respected company four straight years.
GE (NYSE:GE) is a diversified technology, services and manufacturing company with a commitment to achieving customer success. GE operates in more than 100 countries and employs approximately 310,000 people worldwide.