Study published by Harvard Business Review has evaluated 294 executives from the region; evaluation criteria included the companies’ market value and the total shareholders return; Marco Antonio Bologna is the only airline executive in the ranking
São Paulo – (BM&FBOVESPA: TAMM4, NYSE: TAM) – Marco Antonio Bologna, CEO of TAM S.A. and TAM Linhas Aéreas, ranked the 11th position for CEOs performance in Latin America. He is the only one working in an airline company in the ranking, which listed the 50 best executives of the region, which results from a research conducted by Harvard Business Review (HBR), a business administration and enterprises magazine, published since 1922 and linked to Harvard University in the USA. For the first time the magazine holds the research among CEOs in the region. Two hundred and ninety-four (294) CEOs, from 197 publicly-held companies in Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela were evaluated.
“The aviation market is complex. Therefore, we have to keep in mind that the result was possible because of the excellent team we have, qualified to perform in a competitive and volatile business environment. This recognition is an incentive to continue to perform efficiently and to deliver the best results to our shareholders, offering quality services to our customers”, stated Bologna.
HBR research, published in the Brazilian and Latin American edition of the magazine, this March, started with the gathering data of the executives of companies in the MSCI (Emerging Markets Index) or in the América Economía Latin American, from 2002 to 2011. Additionally, it included executives who took over their positions from January 1st, 1995 to June 30, 2009. The professors Morten Hansen, from Berkeley University, Herminia Ibarra, from INSEAD, Fernando Fragueiro (IAE Business School, Universidade Austral, Argentina) and Urs Peyer (Insead) carried out the analisys.
The publication considered the variation of the companies’ market value and the total shareholder return (TSR). In accordance with the magazine the evaluation of CEO performance is a difficult task, mainly in the emerging markets; nevertheless, the TSR, adjusted for the country and the sector, is the best method to calculate the results that a CEO delivers to investors. At TAM, the research considered the period from 2004 to 2007, when Bologna first headed the Group’s operations. Along the foregoing period, TAM increased its market value by US$ 5 billion, and promoted a total shareholder return (adjusted for the sector) of 4200%.
Picture: Carstino Delmonte
