Fortune 500 Recognizes Eight Michigan Companies as the Most Admired
Global success and industry respect lands eight Michigan-based companies on the Fortune 500 list of most-admired companies.
Looking at the largest U.S. companies ranked by revenue and adding global corporations with annual revenues of $10+ billion, Fortune 500 asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. Eight Michigan corporations were recognized as the world's most admired companies.
- Starbuck's topped the food service industry category, with Ann Arbor's Domino's Pizza the runner-up.
- GM ranks 4th in the motor vehicles industry, behind Toyota, BMW and Daimler.
- The Battle Creek-based cereal maker is back on the Forbes list in 2020, placing 6th in the competitive consumer food products category. Nestle was the most-admired brand, followed by PepsiCo, Mondolez International (parent of Kraft Foods), General Mills, French multi-national Danone and Kellogg.
- Detroit isn't just for cars, as Lear ranked 6th in the motor vehicle parts category.
Penske Automotive Group
- Categorized as a specialty retailer, Penske just missed a podium finish, placing 4th.
- A Grand Rapids pillar since 1912, the furniture-maker finished second only to Stanley Black and Decker in the home equipment, furnishings category.
- The medical products and equipment division is competitive, with Kalamazoo-based Stryker ranking 5th
- Whirlpool finished just behind Steelcase in the home equipment, furnishings category.
DTE Energy end Ford Motor Company made the 2019 list, but fell off in 2020. Get more on the methodology of the study and complete results here.