Tim Cook, CEO of the world’s most valuable company Apple topped the list of executives having the maximum impact on revenue growth during their tenure, according to a report.
Tim Cook, CEO of the world’s most valuable company Apple topped the list of executives having the maximum impact on revenue growth during their tenure, according to a report. Executive recruitment firm Kittleman has come out with a report which ranks the top 50 CEOs based on their impact on the average monthly revenue generated during their tenure as the top executive at their respective companies. With an average monthly revenue growth at $1.77 billion through the 77 months, he has helmed the firm, Apple’s Cook ranked head and shoulders above the others in the list. Larry J Merlo of CVS Health, with an average revenue growth of $860 million ranked a distant second on the list. Kittleman took special note of Google CEO Sundar Pichai’s rise.
“In October of 2015, mega-company Google broke into several subsidiaries of varying categories, and Alphabet is the parent company of them all. In just over two years since the reorganization, Pichai has grown the “new” company by an average of $546 million per month. Turns out that a little house cleaning can clear the way for more growth,” Kittleman said in the report.
Another interesting insight from the report is that nearly half of the top companies saw revenue impacted when the CEO was approximately 4 to 8 years into the position. “This tells us that once a CEO settled into the job, assessed what was working and what areas needed improvement, and put plans in place for growth, the company saw noteworthy revenue impact,” Kittleman said.
However, only 5 women made it to the top 50 list. “Four of which—HP, Lockheed Martin, General Motors, and General Dynamics—grew significant revenue in five years or less. Mary T. Barra, CEO of General Motors, can boast an average $218 million growth per month in just 48 months. Considering the 110-year-old company filed for bankruptcy in 2009, it’s an impressive turn-around,” said the report.
Another noteworthy takeaway from the report is that many successful companies have been tweaking and refining their brand and products for years, such as FedEx and Berkshire Hathaway, which CEO Warren Buffett has been steadily growing for nearly 53 years (632 months). “By diversifying the companies and subsidiaries that Berkshire Hathaway owns and operates, Buffet proves that slow and steady can continue to reap profits for his massive company,” said the report.