FedEx and UPS commended in FORTUNE list
FedEx and UPS have both been named among the world’s most admired companies, in a list published by FORTUNE magazine. FedEx was ranked 8th, up five positions from 2010. UPS was ranked 30th in the prestigious list.
FORTUNE awarded first place to Apple, whilst Google came in second place. Other notable companies in the top ten include Coca-Cola, Amazon and Microsoft.
The survey measures nine attributes related to financial performance and corporate reputation.
The magazine said FedEx “hasn’t bounced back from the recession as quickly as it would like. The shipping giant recently had to scale back its quarterly profit forecast due to a rise in fuel costs and expenses (blame the harsh winter).
“On the other hand, businesses continue to rely on FedEx for timely deliveries and high-quality service. In February, the company completed the acquisition of AFL Pvt. Ltd., expected to strengthen its efforts in India and China. Emerging markets such as these have kept FedEx growing in the recent past.”
Commenting on the news, Fred Smith, chairman, president and CEO, FedEx Corp, said: “Recognition on the FORTUNE Most Admired Companies list is evidence of our team members’ hard work and commitment to helping the business emerge from the economic downturn stronger than ever.
“We credit this year’s performance to our 285,000 FedEx team members worldwide who enable our company’s success by delivering outstanding experiences every day.”
Since 2001, FedEx has ranked among the top 20 in the list. FedEx also earned accolades for its reputation and culture among numerous regional rankings throughout the world and was recently named one of the “Best Companies for Leadership” by the Hay Group.
UPS posted an industry score of 7.42 on the magazine’s 10-point scale, the company said.
“Within its delivery industry, UPS dominated the scoring on the nine attributes used for judging, placing first on eight of the nine. The company was rated first in its industry on the attributes of innovation, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products and services and global competitiveness,” said a UPS statement.