Apple Inc’s Steve Jobs was named the best-performing chief executive officer by the Harvard Business Review, which praised him for delivering a “whopping” 3,188 percent return to investors during his tenure.
The ranking shows which CEOs of public companies performed best over their entire time in office, the journal’s Web site said. Other technology leaders on the list included former Samsung Electronics Co CEO Yun Jong-yong at No. 2 and Cisco Systems Inc chief John Chambers at No. 4.
Jobs, who co-founded Apple in 1976 and was ousted in a management coup in 1985, returned in 1997 to lead the then financially ailing company. He has added new versions of the Macintosh personal computer to win buyers, pushed Apple into the digital-media market with the best-selling iPod player and entered the mobile-phone arena with the iPhone.
“Of course shareholder return is not the only measure of performance,” the Boston-based journal said. “But it is the fundamental scorecard for CEOs of public companies.”
After Jobs returned to Apple as CEO, he delivered an industry-adjusted return of 34 percent compounded annually through September, the review wrote. Apple’s market value increased by US$150 billion in that period, the review reported.
Apple, based in Cupertino, California, rose US$2.80 to US$198.23 at 4pm in NASDAQ stock market trading. The shares have more than doubled this year.
Harvard Business Review said it studied an initial list of 1,999 executives from companies based in 33 countries to determine who led firms that outperformed others in the same country and industry. The journal published rankings of the top 50, 100 and 200 CEOs.
To be considered, CEOs must have assumed the job no earlier than January 1995 and no later than December 2007, the magazine said, explaining why prominent US executives including General Electric Co’s Jack Welch, Microsoft Corp’s Bill Gates, Oracle Corp’s Larry Ellison and Berkshire Hathaway Inc’s Warren Buffett were not considered.
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