Tuesday, November 17, 2015
Universal Forest Products, Inc. (Nasdaq: UFPI) is pleased to announce that its CEO Matthew J. Missad has been included in Fortune magazine’s Businessperson of the Year list, an annual ranking of just 50 corporate leaders published on November 12. He is in the company of leaders such as Nike’s Mark Parker (who took the number-one spot), Apple’s Tim Cook, Larry Page of Alphabet (Google’s holding company) and Priceline’s Darren Huston. At number 45 on the list, Missad’s long history with the company and his success as CEO are noted in the Fortune article.
“Concrete results. They’re what drive Fortune’s annual ranking of corporate chieftains,” states the article. “Of course, intangibles and inspiration matter. But what counts most for companies is the ability to generate cold, hard cash. What follows is an assemblage of superstars who navigated the inevitable turmoil this year and led their companies to stellar and, yes, concrete results.”
Missad called it “a surprise and an honor,” adding, “I am just a small part of an organization that has many diverse elements, including a great management team, a strong board, and the best employees in the business. While I’m tremendously humbled by the recognition, the credit for our success goes to each of them. I am grateful to everyone at the companies of Universal for their hard work and ingenuity, which drive our success.”
Fortune said it weighed 10 metrics to come up with the list, with 12-month and 36-month increases in profits and revenues at the core of the analysis to provide a longer-term picture of each company’s success. The magazine also factored in stock performance, total shareholder returns and ratio of debt to capital, as well as nonfinancial elements like business influence, leadership style and strategic initiatives.