Bosch named most admired automotive supplier
Fortune magazine cites company as most admired in motor vehicle parts industry worldwide
-- Bosch ranked first on each of nine reputation criteria for the motor vehicle parts industry
-- Ranked fifth among all German companies included in the survey
STUTTGART, Germany, March 13, 2013 /PRNewswire/ -- Bosch has been named the world's "most admired motor vehicle parts supplier" by the U.S. business magazine Fortune in their 2013 list. The company ranked first on all nine of Fortune's reputation criteria within this category. The criteria include innovation, people management, use of assets, social responsibility, management quality, financial soundness, long-term investment, quality of products and service, and global competitiveness. Executives, directors, and analysts were surveyed at 687 companies in 57 industries and 30 countries. This is the second consecutive year that Bosch has been recognized as the most admired automotive supplier. The company was ranked fifth among the "most admired" German companies included in the survey, and fifteenth among all companies outside the U.S.
"Fortune's recognition of our company is a testament to our associates' achievements. They are dedicated to maintaining exceptional customer service and to developing innovative products and services that fascinate and improve quality of life for people around the world," said Dr. Volkmar Denner, the chairman of the board of management of Robert Bosch GmbH. "We are honored to be included in this list of successful companies."
Regarded as one of the most prominent surveys of company reputation since its launch in1997, Fortune's "World's Most Admired Companies" list recognizes companies worldwide based on feedback from business professionals in a wide range of industries. The companies are ranked according to the location of their headquarters. For more information, go to: http://money.cnn.com/magazines/fortune/most-admired.
The Bosch Group is a leading global supplier of technology and services, active in the fields of automotive technology, energy and building technology, industrial technology, and consumer goods. According to preliminary figures, more than 306,000 associates generated sales of 52.3 billion euros in 2012. The Bosch Group comprises Robert Bosch GmbH and its more than 350 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spent some 4.5 billion euros for research and development in 2012, and applied for over 4,700 patents worldwide. The Bosch Group's products and services are designed to fascinate, and to improve the quality of life by providing solutions which are both innovative and beneficial. In this way, the company offers technology worldwide that is "Invented for life."
The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and Electrical Engineering." The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust.
The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.