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ONGC joins Fortune’s elite club

— PHOTO: RAJEEV BHATT

PRESTIGIOUS AWARD: R. S. Sharma, Chairman and Managing Director, ONGC, holding aloft the trophy in New Delhi on Tuesday. N. K. Mitra (left), and A. K. Balyan (second from right), Senior Directors, ONGC, and Srini Srinivasan, Managing Director, Hay Group India, look on.

NEW DELHI: State-run explorer Oil and Natural Gas Corporation (ONGC) is the only Indian company to enter the list of world’s most admired firms compiled by the Fortune magazine and global consulting firm Hay Group.

The company ranks at ninth position among firms operating in the mining and crude oil production space for efficient human resource management.

“Hay Group and Fortune annual survey studies the corporates’ reputation across various factors, maps the performance of the companies on both quantitative and qualitative aspects and finally rate the companies,” Hay Group Director (India), Srini Srinivasan, said while felicitating ONGC Chairman and Managing Director, R. S. Sharma.

“The key differentiating factor in our research this year is to study the role that board of directors play in effective human capital management,” Mr. Srinivasan said.

The five most admired companies in the world in 2007 as per the survey are: GE, Toyota, Procter and Gamble, Johnson & Johnson and Apple. The U.S. hosted the maximum number of 135 admired firms globally, while Japan stood second with 61 firms.

Companies are required to have at least $12 billion in revenue to be eligible for the world’s most admired list, a statement said.

The survey uses Fortune’s 1,000 listing for America’s most admired companies and global 500 listing in the world.

It surveyed 3,322 executives, directors and analysts at more than 150 companies around the world. — PTI

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