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Media Release — KPMG in Canada
Dominic D'Alessandro Named Most Respected CEO by Peers
Paul Tellier and Clive Beddoe Tie for Second: Canada's Most Respected Corporations
(Toronto, Monday, January 24, 2005) — Canada's top CEOs agree that Dominic D'Alessandro of Manulife Financial Corporation is the Most Respected CEO among his peers in 2004, according to the Tenth Annual Canada's Most Respected Corporations Survey. Following a busy year that saw him successfully lead the largest cross-border transaction in Canadian history with the merger of Manulife Financial and Boston-based John Hancock Financial Services, Dominic D'Alessandro is now CEO of the largest life insurance company in Canada and the fourth largest in the world.
"Canada's CEOs know the value of respect among themselves and for their companies. Respect is not a commodity or currency easily achieved. In today's business climate, it not only provides a premium for companies, but it is also a barometer of trust that is essential. "says Bill Dillabough, Managing Partner, Markets, KPMG.
Defining characteristics of the most respected CEOs in this country are determined based on the following four categories:
- Vision, focus, discipline or good strategy (52 per cent, up 10 points since 2003);
- Financial performance (34 per cent, down four points since 2003);
- Track record (27 per cent, down 12 points since 2003);
- Shareholder or investment value (22 per cent, up 1 point since 2003).
Interestingly, fewer CEOs in 2004 (18 per cent) than in 2003 (34 per cent), point to "Corporate governance or leadership" as a defining characteristic of their most respected CEO (down 16 percent from last year).
Other highlights include:
- When choosing from a list of priorities for the future, 57 per cent of CEOs indicated they will focus on training employees;
- Approximately half (46 per cent) say they will focus on process and systems review, and new resources including people (45 per cent);
- Although down 6 points from 2003, 84 per cent of CEOs see a correlation between companies that are more respected in the public, enjoying a greater premium in their share price.
About the Survey:
The survey conducted by Ipsos-Reid and sponsored by KPMG, asks leading Canadian CEOs to name the corporations they most respect in eight categories. Corporations were graded on their performance in the following eight categories: Best Long-Term Investment Value, Innovation and Product/Service Development, Human Resources Management, Financial Performance, Corporate Social Responsibility, High Quality Service/Product, Corporate Governance, and Customer Service. Lastly, CEOs were asked to determine overall, which company they most respected as the 'Top of Mind' Most Respected Corporation for 2004.
The Tenth Annual 'Canada's Most Respected Corporations Survey' involved interviewing 263 of Canada's leading CEOs between September and November 2004. The interviewees were selected at random from the Report on Business Public 1000, Report on Business Private 300 and the Financial Post 500 rankings for 2004.
For full tabular results, please visit www.mostrespected.ca
Contacts:
Julie Bannerjea
Senior Manager, Media Relations, KPMG
(416) 777-3243
jbannerjea@kpmg.ca
Shilpa Kotecha
Manager, Media Relations, KPMG
(416) 777-8918
skotecha@kpmg.ca
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