IP No. 1 Again in Fortune’s Most Admired Companies, Forest and Paper
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"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 CEO. "They continue to deliver quality and innovation for our customers and solid financial results for our hareholders. Congratulations to all of 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% in last year's survey, plus those that finished in the top 20% of their industry. Anyone could vote for any company in any industry.
IP is a global producer of packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia, and North Africa. Its businesses include industrial and consumer packaging and uncoated papers, complemented by xpedx, the company's North American distribution company. The company employs approximately 70,000 people and is located in more than 24 countries serving customers worldwide. IP’s net sales for 2013 were $29 billion.
