Google's Larry Page Named Business Person Of The Year
Google’s Larry Page has emerged as the ‘business person of the year’ for 2014, edging past the likes of Alibaba co-founder Jack Ma and Facebook CEO Mark Zuckerberg, according to Fortune magazine.
Page, who is chief executive officer and co-founder of Google, came on top in the 20 global corporate leaders’ list compiled on the basis of various factors including company’s performance, leadership style and total shareholder returns, the magazine said while bringing out its list. In 1998, Brin and Page founded Google, and Page ran Google as co-president along with Brin until 2001 when they hired Eric Schmidt as Chairman and CEO of Google. In January 2011 Google announced that Page would replace Schmidt as CEO in April the same year.
Both Page and Brin earn an annual compensation of one dollar. On April 4, 2011, Page officially became the chief executive of Google, while Schmidt stepped down to become executive chairman of Google. Page also sits on the Board of Directors of Google.
Apart from Jack Ma and Zuckerberg, others in the race included Apple’s Tim Cook and fast food chain Chipotle co-CEOs — Montgomery Moran and Steve Ells — and Fedex chairman & CEO Fred Smith.
Besides, five women have made the cut to the top 20 list. Interestingly, Amazon’s Jeff Bezos, who led Fortune list in 2012, failed to make in to the top 20 list. The women contenders were Ultra Beauty CEO Mary Dillon, ITT CEO and President Denise Ramos, TJX Cos CEO Carol Meyrotwiz, Theranos Founder and CEO Elizabeth Holmes and Williams-Sonoma President and CEO Laura Alber.
According to a PTI report, as Google’s core business continues to thrive, Page, who topped the list, is making “huge bets on new technology — ingestible nanoparticles, balloons that beam down broadband — that could define the future,” the magazine noted. Page and his company have packed a lot of evolution into just over 15 years of existence, it added.
The list is based on various parameters like financial results of the company including 12-month and three year growth in profits and revenues, company’s stock performance and total shareholder returns over the same periods. Besides, several non-financial elements like business influence, leadership style, strategic initiatives played a part in evaluation.
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