With the Covid pandemic in the rearview mirror, the past year couldn’t rival the previous few for the crisis management skills demanded of top business leaders. But sure tried. The 2023 Barrons The list of top CEOs includes 25 leaders who have found ways to thrive through chaos.
Interest rates rose at the fastest pace in four decades, and bonds had their worst year since before the American Revolution, which left banks with paper wallet losses and sparked a run on deposits that removed three. Strong industry players large and small were able to acquire assets including Jamie Dimon To
(symbol: JPM) and Frank B. Holding Jr. To
(FCNCA).
In the meantime, James Gorman To
(MS) is pulling out after a frenzy of asset management growth that has left rivals that depend on more volatile trading revenue hungry for fees.
Goldilocks gave up on whether the US economy is too hot or cooling too quickly, with a halving but still high annual inflation rate and plump asset prices. The best retailers carefully manage inventory, price, and shopper convenience to grow market share without sacrificing profit or adding risk. They understand W. Craig Jelinek To
(COST) and Marvin Ellison To
(WEAK).
(PEP) is spicing up the commodity industry by pushing the boundaries of Cheetos variation, among other things. When Brian Nicol To
(CMG) isn’t evangelizing its new chicken al pastor, it’s perfecting its approach to fulfilling digital burrito orders without slowing down counter service.
Computers think more for themselves, and investors perhaps a little less, judging by the prices some are paying for exposure to artificial intelligence. The tech leaders on our list are not just riding this wave, but also selling on it, after years of preparing their product lines. They understand jensen huang To
(NVDA), Satya Nadella To
(MSFT), Sundar Pichai To
(GOOGL), Shantanu Narayen To
(ADBE), and safra catz To
(ORCL)—yes, that Oracle.
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Our list is chosen by a panel of editors and journalists through a process of selection, nomination, discussion and debate. Imagine the jury drama of 1957 12 angry men, only collegiate and half-female, with no murder charges. Think about it, forget the movie. We focus on recent leadership actions that have positioned companies for success. Many CEOs on our list, but not quite, have had outstanding stock market returns. This is decidedly not a stock-picking exercise – the best CEOs are often attached to ambitious stock market valuations.
Tim Cook To
(AAPL) and warren buffet To
(BRK.A, BRK.B) have been on the list for years. Many members are new, like Dave Powers at Deckers Outdoor (DECK), which turned the success of Ugg fleece boots into a boom in Hoka bouncy sneakers. Some come back; Tricia Griffith To
(PGR) is gaining market share in a chaotic stretch for auto insurance pricing.
Click on the links in the table below for details of others including John C.Maythe robot-tractor climbs to
(OF), Dave Rick And
Eli Lily
It is
(LLY) obesity breakthrough, Vicki Hollub And
western oil
It is
(OXY) to capture carbon and use it to increase oil production, and Larry Culpthe market fission exploit to
splitting the company to release its best stock market performance in years.
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Write to Jack Hough at jack.hough@barrons.com
