International Paper today announced that it has once again been named as the No. 1 company in the Forest and Paper Products sector in FORTUNE magazine's annual ranking of "The World's Most Admired Companies 2014." This is International Paper's 11th time in the last 12 years to top the FORTUNE list in this sector. Companies are scored in nine categories: ability to attract and retain talented people, quality of management, social responsibility to the community and the environment, innovativeness, quality of products or services, wise use of corporate assets, financial soundness, long-term investment value and effectiveness in doing business globally.
"This recognition reflects the exceptional talent and commitment of International Paper's leaders and our 70,000 employees around the globe," said John Faraci, chairman and chief executive officer. "They continue to deliver quality and innovation for our customers and solid financial results for our shareholders. Congratulations to all our employees."
The FORTUNE/Hay Group study compiled its data from approximately 1,400 companies: the Fortune 1,000 (the 1,000 largest U.S. companies ranked by revenue) and non-U.S. companies in Fortune's Global 500 database with revenue of $10 billion or more. Hay then selected the 15 largest for each international industry and the 10 largest for each U.S. industry, surveying a total of 692 companies from 30 countries. To create the 57 industry lists, Hay asked executives, directors, and analysts to rate companies in their industry on nine criteria, from investment value to social responsibility. A company's score must rank in the top half of its industry survey to be listed.
To arrive at the top 50 Most Admired Companies overall, the Hay Group asked 3,920 respondents to select the 10 companies they admired most. They chose from a list made up of the companies that ranked in the top 25 percent in last year's survey, plus those that finished in the top 20 percent of their industry. Anyone could vote for any company in any industry. Hay Group, which has conducted the research for the World's Most Admired Companies list since 1997 and for America's Most Admired Companies since 2001, is a global management consulting firm.