Who Predicted the Financial Crisis - Economic ... - CEO Magazine
Who Predicted the Financial Crisis - Economic ... - CEO Magazine
Who Predicted the Financial Crisis - Economic ... - CEO Magazine
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Christopher Connor<br />
<strong>CEO</strong> of The Sherwin-<br />
Williams Company<br />
The Talent <strong>CEO</strong><br />
Company Profile<br />
Industry: Specialty<br />
Retail (Paints)<br />
Employees: 29,200<br />
Revenues: $7.3B<br />
Market Cap: $7.87B<br />
<strong>CEO</strong> Achievements<br />
24 www.ceoqmagazine.com | Q4 / 2010<br />
<strong>CEO</strong> Awards<br />
Most Respected <strong>CEO</strong>s<br />
Christopher Connor<br />
Sherwin-Williams<br />
• Over <strong>the</strong> past 10 years, Sherwin-<br />
Williams shareholders have<br />
enjoyed an average annual return,<br />
including dividends, of almost 14<br />
percent.<br />
• Despite disappointing results<br />
during <strong>the</strong> 2009 financial crisis,<br />
<strong>the</strong> free cash flow for <strong>the</strong> year<br />
increased by approximately $12<br />
million to an all-time high of $605<br />
million.<br />
• Sherwin-Williams is rated as one<br />
of America’s top 100 companies to<br />
work for.<br />
• The company’s culture of<br />
excellence has created an<br />
environment where outstanding<br />
technology, operational excellence<br />
and engagement all continue<br />
to play a role in <strong>the</strong> Company’s<br />
growing success.<br />
<strong>CEO</strong> Bio<br />
Christopher Connor is Chairman<br />
and <strong>CEO</strong> of The Sherwin-Williams<br />
Company, a global leader in <strong>the</strong> paint<br />
and coatings industry. Mr. Connor<br />
was elected <strong>CEO</strong> by <strong>the</strong> company’s<br />
board of directors on October 25,<br />
1999 and added <strong>the</strong> title of Chairman<br />
on April 26, 2000.<br />
Mr. Connor, 53, began his<br />
employment with The Sherwin-<br />
Williams Company in 1983 as<br />
Director of Advertising for <strong>the</strong><br />
Paint Stores Group. Over his 25year<br />
career with Sherwin-Williams,<br />
Mr. Connor has held a number of<br />
increasingly important assignments<br />
in many different functional areas<br />
of <strong>the</strong> Company. In addition to<br />
The Sherwin-Williams’ Board of<br />
Directors, Mr. Connor serves on <strong>the</strong><br />
board of <strong>the</strong> Eaton Corporation.<br />
His many civic and community board<br />
engagements include <strong>the</strong> Greater<br />
Cleveland Partnership, <strong>the</strong> Rock<br />
and Roll Hall of Fame and Museum,<br />
The Playhouse Square Foundation,<br />
University Hospitals Health System,<br />
United Way Services of Greater<br />
Cleveland, The Commission on<br />
<strong>Economic</strong> Inclusion, Team NEO,<br />
Fisher College of Business at The<br />
Ohio State University, <strong>the</strong> National<br />
Manufacturers Association and<br />
The National Paint and Coatings<br />
Association. Mr. Connor is <strong>the</strong><br />
past Chairman of <strong>the</strong> Board for<br />
Keep America Beautiful, University<br />
Hospitals Health System and Walsh<br />
Jesuit High School.<br />
Mr. Connor is a 1974 graduate of<br />
Walsh Jesuit High School and a<br />
1978 graduate of The Ohio State<br />
University.<br />
<strong>CEO</strong> Insights<br />
We look for top talent, because we believe<br />
people are <strong>the</strong> ultimate competitive<br />
advantage. We reward innovative people<br />
with a real drive to accomplishment.<br />
20, 30, 40 year careers are not<br />
uncommon in our company. That is<br />
why we are rated as one of <strong>the</strong> top 100<br />
companies to work for.<br />
We enter 2010 cautiously optimistic that<br />
<strong>the</strong> worst of <strong>the</strong> global recession is behind<br />
us. At <strong>the</strong> same time, we acknowledge<br />
that economic recovery may be slow and<br />
erratic, and coatings demand in many<br />
end markets will likely remain weak. Over<br />
<strong>the</strong> past three years, we have worked<br />
hard to make Sherwin-Williams a leaner,<br />
financially stronger and more profitable<br />
company. We have fine-tuned our capital<br />
structure, tightly managed fixed costs<br />
and SG&A expense, reduced inventories<br />
and expanded our distribution platform<br />
domestically and abroad. These actions,<br />
along with our continued focus on<br />
serving a diverse and increasingly global<br />
customer base, have positioned us to<br />
perform well through <strong>the</strong> balance of this<br />
recession and outperform in a recovery.<br />
We are confident that 2010 will be a year<br />
of improvement for <strong>the</strong> Company.<br />
About Sherwin-Williams<br />
Sherwin-Williams operates over 3,350 paint stores<br />
in <strong>the</strong> United States, owns many of <strong>the</strong> paint and<br />
coatings industry leading brand names, and sells<br />
products in over 50 countries around <strong>the</strong> world.<br />
Q4 / 2010 | www.ceoqmagazine.com 25