Morningstar Nominates Gregory Henslee, Gail Kelly, and John Martin for 2014 CEO of the Year Award
CHICAGO, Dec. 3, 2014 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced the nominees for its 2014 CEO of the Year award. Morningstar annually recognizes a chief executive who exhibits commendable corporate stewardship, demonstrates independent thinking, creates lasting value for shareholders, and has put his or her stamp on an industry.
The three nominees for this year's award are:
- Gregory Henslee, O'Reilly Automotive Inc.
- Gail Kelly, Westpac Banking Corporation
- John Martin, Gilead Sciences Inc.
"Each year we look at chief executives' track records of capital allocation decisions and how they've created shareholder value by establishing or enhancing the competitive advantages of their companies," Michael Holt, head of equity and corporate credit research for Morningstar, said. "While a CEO's longer-term accomplishments are important, we also evaluate moves made during the calendar year. Each of our three nominees leads a company that our analysts consider to have an economic moat and an Exemplary Stewardship Rating, our top rating based on our assessment of management's stewardship practices."
Morningstar's Economic Moat™ rating is a proprietary measure of a company's sustainable competitive advantages, and Morningstar assigns each company a rating of Wide, Narrow, or None. A company can derive an economic moat through five primary sources: Efficient Scale (a limited market where there is little incentive for new entrants), Network Effect (a situation where incremental customers add value for existing customers), Cost Advantage (allowing a company a greater profit margin and/or the ability to steal market share), Intangible Assets (e.g. patents or strong brands), and Switching Costs (making it costly in time and/or money for customers to switch providers).
Morningstar plans to announce its 2014 CEO of the Year award winner on Jan. 21, 2015 on CNBC's "Nightly Business Report." For Morningstar's article about the nominees, visit http://www.morningstar.com/goto/ceoynominees2014. For the complete list of past winners, visit http://corporate.morningstar.com/CEOhalloffame.
Morningstar introduced its CEO of the Year award in January 2000. Winners are chosen by senior members of Morningstar's equity analyst team based on their in-depth independent research.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 479,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 13 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $169 billion in assets under advisement and management as of Sept. 30, 2014. The company has operations in 27 countries.
The company references above should not be considered a solicitation by Morningstar to purchase shares of those companies.
©2014 Morningstar, Inc. All Rights Reserved.
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SOURCE Morningstar, Inc.
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