CEO David Hoover '67 and Ball Corp. Featured in Investor's Business Daily and Fortune
October 26, 2004
October 26, 2004, Greencastle, Ind. - R. David Hoover, chairman, president and CEO of Ball Corp. and a 1967 graduate of DePauw University, “stresses communication to keep his company ahead of the pack,” writes Investor’s Business Daily in a “Leaders & Success” feature. Hoover joined Ball Corp., one of the oldest and largest makers of metal food and beverage cans, in 1970. He moved up from president to chief executive of the company in January 2001. Under his leadership, Ball Corp. has strengthened its position in the marketplace and, and he is known for running a highly productive company.
“Ball has racked up quite a track record under Hoover’s watch. From 2002 to 2004, earnings have jumped an average 39 percent annually, while sales have climbed an average 14 percent annually,” Investor’s Business Daily's Marilyn Much wrote. The reporter described how Hoover and the Ball Corp. management team developed what is known as Ball's "five keys to success" in communicating with employees and customers in order to keep the company vibrant. The keys include:
- Stay close to customers. Share a commitment to being close to customers and understanding their needs and future direction and be there for them in all ways.
- Behave like owners. If employees behave as true owners of the business, they'll deliver superior results.
- Be concerned about people. Try to create an environment where people can get ahead, work hard and develop their greatest potential. The "keys to success" are printed on cards and given to employees throughout the company, as well as printed on posters displayed in the company's plants.
“If you have people who are focused on achieving the same goals, you can accomplish them,” Hoover said. Accomplishing those goals led to another recent recognition when Fortune magazine cited Ball Corp. as one of the Fortune 400, “a model portfolio with our best investment ideas for the year ahead,” according to the magazine. “CEO Hoover runs a highly productive outfit: Ball churns out more than 2,200 beverage cans each minute,” the magazine wrote. “Recent acquisitions have pushed its debt-to-capital ratio up to 66 percent, which is higher than we like. But Hoover has made retiring debt one of his top priorities in the years ahead and plans to pay off at least $200 million this year. What’s more, Ball is precisely the kind of stock you want to own when rates are rising.”
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