Top Five Newsmakers Of 2014 In Business World
As the year 2014 comes to an end in a couple of days, statistics, and flashback of what went right or wrong for the corporate world started flowing. It was but natural there were some ups, as well as, downs while few others may be piquant. Let’s look at some of the top five personalities, who made the news.
Bill Gross was considered as the king of bonds as he ruled it for 40 years undisputedly. He was about to be shown the door by Pacific Investment Management Company or PIMCO management. However, knowing well what was happening around him, he quietly joined Janus Capital Group Inc (NYSE:JNS) without even telling the PIMCO management.
It was not a good year for him as Gross started facing troubles from the start of the year when Mohamed El-Erian resigned as the CEO of PIMCO. His resignation suggested that infighting was brewing. However, PIMCO is yet to arrest the withdrawal of funds following Gross’ exit.
Jack Ma, Alibaba Group Holding Ltd (NYSE:BABA), was the largest beneficiary as far as finance was concerned. His net worth jumped 173% to approximately $29.2 billion in December from about $10.7 billion. The percentage of growth was the biggest wealth creation growth by anyone.
His growth was phenomenal. He started his career with earnings of $15 a month as English teacher. Now he is a world renowned titan in the field technology. The company came out with an IPO of $25 billion in September, and the stock witnessed 60% growth since then.
BlackBerry Ltd (NASDAQ:BBRY) CEO, John Chen, took the reigns of the beleaguered company only a year ago. When he assumed the role, he gave 50% chance of survival. Since then, he has made the company earn positive cash flow ahead of the expectations.
There was no doubt that BlackBerry has been losing revenue, and smartphone sales were not satisfactory. However, the Street analysts’ appear to have a strong opinion that Chen did a commendable job since it was written off long back by many.
Canadian Pacific Railway Limited (USA) (NYSE:CP) CEO, Hunter Harrison, disclosed in October that he reached the financial targets set by himself two years ahead of schedule. He assumed the position after a bitter proxy war in 2012. On top of it, he revealed a fresh set of objectives for 2018, which included doubling of the railroad’s EPS. There were some comments that the objectives were not realistic.
Apple Inc. (NASDAQ:AAPL) CEO, Tim Cook, was in the news for a different reason. He declared himself as a gay publicly in October. His declaration has confirmed long existed rumor.
Aside from it, CNN named Cook as the CEO of the year. Apple also entered the $700 billion market cap club in November. He assumed the role in 2011 and since then its value doubled.