Wednesday, March 19, 2008

Global Business Leaders Name Tesco 'Most Admired' UK Company in Poll

A just-released poll of senior business executives, directors and business analysts located throughout the world says Tesco, parent company of Fresh & Easy Neighborhood Market in the USA, is the most admired company in the United Kingdom (UK).

The survey was conducted by the Hay Group firm for Fortune magazine. The survey polled 1,467 senior business executives, directors and analysts representing 358 companies around the world, with revenues of over $5 billion.

This is the second year in a row that Tesco took the top most admired UK company spot. Rival UK grocery chain Sainsbury's scored as the number two most admired UK company among the 1,467 global business executives polled.

DSG international, which owns UK companies Currys, PC World and Dixons, was named the third most admired UK company, followed by oil and energy company BP in fourth place, and Kingfisher, which owns the B&Q brand and retail stores in fifth.

Overall, Silicon Valley, California-based Apple Computer was named the number one most admired company not just in the U.S. but globally. In fact, U.S.-based companies took four out of the top five spots in the overall most admired company in the world category.

In addition to first place winner Apple, General Electric won honors as the second most admired company globally. Third place went to Japan's Toyota, followed by Berkshire Hathaway, the Omaha, Nebraska-based holding company owned by billionaire investor and major Tesco shareholder Warren Buffet in fourth. U.S-based consumer products giant Proctor & Gamble was named the fifth most admired company in the world in the Hay group poll for Fortune magazine.

Tony Gilbert, who lead the study for the Hay Group, said Tesco's top-ranking as the UK's most admired company, and Sainsbury's number two finish, is "testament to the UK's superb world-class retailing industry."

"The UK retail industry is renowned for its innovation, customer service focus and swift response to changing consumer tastes. One reason for its consistent success is the performance driven-culture which permeates many UK retailers," Gilbert said.

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