diageo wins ‘britain’s most admired company’ award for the second year in a row
Diageo has been named 'Britain's Most Admired Company' for the third time, and for the second consecutive year, in a peer review of corporate reputation run by leading UK business magazine Management Today. Diageo is one of only two companies to receive the prestigious award three times since 1994. In addition to winning the overall award, Diageo is also ranked as the top company in the Beverages sector.
First published in Management Today in 1994, Britain's Most Admired Company Award offers a unique insight into the components of corporate reputation by recognising key factors critical to business success. As well as being awarded the number one spot twice, first in 2008 and then in 2012, Diageo was also placed second in 2011, narrowly missing out on first place by just 0.60 points.
To collate the rankings, board level representatives, analysts at leading City investment firms and City commentators are required to rate the other companies in their own sector on nine criteria. The criteria range from the company's ability to innovate and the quality of its marketing to its financial performance and the strength of its management team.
Overall, Diageo was ranked in the top ten for five of these criteria ('value as a long term investment', 'financial soundness', 'quality of goods', 'innovation' and 'ability to attract, develop and retain top talent'). Diageo also took first place in all nine criteria for the Beverages sector.
The award will be accepted by Paul Walsh, Advisor to the Chairman and Chief Executive and Ian Wright, Corporate Relations Director at a gala dinner at Claridges on Tuesday 3rd December.
Commenting on the award, Ivan Menezes, Chief Executive said:
"I am delighted that Diageo has been named Britain's Most Admired Company for the second year in a row, and continued our leadership of the Beverages sector. I am also immensely proud that we are one of only two companies to have won this highly respected awards three times - it is certainly a huge honour to be recognised by our peers in this way. This award is testament to the hard work and dedication of every single one of our 36,000 employees around the world, not least my predecessor Paul Walsh, who led the company with such great vision; this award is part of his legacy. As I lead the company into its next phase, reputation is absolutely at the heart of our ambition to become one of the world's best performing, most trusted and respected consumer products companies."
Management Today's editor, Matthew Gwyther, said:
"In taking the Most Admired crown for the second year running, and the third time in five years, Diageo proves that it is truly an example of a world-class British company. With net sales up 6% in 2013 and an operating margin of over 30% the drinks giant is a parable of strategic consistency. But consistency should not be mistaken for complacency – its strength in the emerging markets is well known but the group is now pursuing the latest big international growth opportunity, Africa."