Auburn Hills, Michigan, Feb. 6, 2023 – BorgWarner has been named one of 324 companies included on Fortune magazine’s 2023 World’s Most Admired Companies list. This marks the first time BorgWarner has achieved the accolade.
The company was ranked 89 overall and was one of eight companies listed in the “motor vehicle parts” category. Other companies in the same category included Lear, Toyota Industries and ZF, among others.
“Being named to Fortune’s World’s Most Admired Companies list is an incredible recognition for our company, exemplifying the reputation we continuously strive for both internally and externally through our Charging Forward strategy and company beliefs,” said Frédéric Lissalde, President and CEO, BorgWarner Inc. “We are proud to be listed among the other highly respected companies on this esteemed list, including our automotive industry peers and customers.”
The annual list is compiled based on a corporate reputation survey executed by Fortune in collaboration with its partner Korn Ferry, a global organizational consulting firm. The initial pool included about 1,500 candidates: the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies in the Fortune Global 500 database that have revenues of $10 billion or more. The number of companies was then winnowed down to the highest-revenue companies in each industry, which resulted in a total of 645 in 27 countries. From there, the top-rated companies were picked through voting by executives from the companies.
To identify the best-regarded companies across 52 industries, Korn Ferry surveyed top executives and directors from companies that are eligible to be on the list, as well as analysts, to rate companies within their own respective industry. Companies were rated based on nine attributes including: quality of management and products, social responsibility, investment value and the ability to attract and retain talent – all key focus areas for BorgWarner. A company’s score must rank in the top half of its industry survey to be listed.
“Fortune congratulates all of the companies whose competitors and peers recognize their achievements and voted them onto the 2023 Fortune World’s Most Admired Companies list, as well as the top 50 All-Stars, who have been named the best of the best by the broader business community in a challenging year,” said Fortune Editor in Chief Alyson Shontell.
For more information on the process to identify the World’s Most Admired Companies or to see the complete list, please visit: https://Fortune.com/ranking/worlds-most-admired-companies/2023/.