2 Memphis firms are among world’s most admired
Two Memphis-based companies are among the most admired companies in the world, with one ranking No. 10 overall, according to a corporate reputation survey released Jan. 22.
Logistics giant Fedex and paper maker International Paper made Fortune magazine’s “World’s Most Admired Companies” report, and both were unsurprisingly quick to tout their placements.
“This recognition reflects the exceptional talent and commitment of International Paper’s 52,000 employees around the globe,” said International Paper Chairman and CEO Mark Sutton in a statement. “We work with the world’s leading brands to make products that improve peoples’ lives, and we mobilize our people, products and resources to address critical needs in the communities where our employees live and work. I want to thank our global team members for this welldeserved achievement.”
The honor is a familiar one for Fedex, which placed 10th overall, and International Paper, which ranked third among companies in its industry.
Fedex says its placement is the 19th consecutive year it has placed in the top 20. It has spent 15 of those in the top 10. International Paper says it has made the list 16 times in the past 17 years.
“It is an incredible honor to be recognized on the FORTUNE World’s Most Admired company rankings for 19 consecutive years,” said Fedex President David Bronczek in a statement. “This accomplishment is a direct result of the more than 450,000 Fedex team members around the globe who go above and beyond for our customers every day.”
How was the survey conducted?
The annual survey’s aim is to find the most renowned companies in 52 industries. The overall score a company receives from survey respondents must be in the top half of its industry to be listed, according to Fortune.
A total of 680 companies in 30 countries qualified for the survey based on revenue, and executives, directors and analysts rated their respective industry’s companies on nine criteria, according to Fortune. Those criteria include people management, long-term investment value, social responsibility and quality of service.
For Fortune’s top 50 “All-star” companies, executives, directors and analysts chose the 10 companies they admired most from a list of companies that finished highly in 2018’s surveys.
“The difference in the voting rolls explains why some results can seem at odds with each other,” Fortune said in explaining its methodology. “For example, AT&T fell off the All-star list but ranked number one within the telecommunications category when votes from only those in that industry were counted.”
Fedex’s experience went the other way, ranking highest among delivery companies on Fortune’s overall All-star list but placing second within the delivery industry behind UPS.
International Paper did not place on the All-star list but placed third among companies in the packaging and containers industry.
Max Garland covers Fedex, logistics and health care for The Commercial Appeal. Reach him at max. garland@commercialappeal.com or 901-529-2651 and on Twitter @Maxgarlandtypes.