NEW YORK — Continental A.G. and Group Michelin earned spots on Fortune magazine's "World's Most Admired Companies" list in the motor vehicle parts category for 2020.
For both companies, the honor — which recognizes excellence in key areas such as quality of products and management, social responsibility, people management and innovation — is their fourth in a row.
Michelin was ranked third in the category and Continental fourth; they are the only tire companies to make the list. Overall, Conti was ranked 113th and Michelin 212th.
The 680 companies honored were selected from a pool of about 1,500 candidates — the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies from Fortune's Global 500 database that have revenues of $10 billion or more.
The list then was winnowed to the highest-revenue companies within each industry for a total of 680 enterprises in 52 industries from 30 countries.
To determine the best-regarded companies in 52 industries, executives, directors and analysts were asked to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products, to social responsibility and ability to attract talent.
"At Michelin, we are passionate about bringing new solutions to the challenges of mobility, so that people everywhere ― from massive urban cities to smaller communities ― can experience the freedom of moving about affordably, efficiently and sustainably," Michelin North America Chairman and President Alexis Garcin said.
"Michelin is grateful for this recognition from other business leaders in our industry, and thanks especially to the hard-working and innovative people of Michelin who contributed to the results."
From Continental's perspective, the company said its mission is to create a healthy and productive work environment where team members feel challenged, are easily able to balance life outside the office and are encouraged to be part of the company's growth.
"Continental team members are provided opportunities to offer and accept feedback at all levels and are empowered to take charge of their personal career journeys," Continental North America CEO Samir Salman said.
"This culture has led to a more engaged workforce, consistent output of award-winning innovations and a more agile response to our industry's rapidly shifting landscape."
Among programs Continental cited as reflective of its philosophy is its Software Academy, learning and training platform available to anyone working at the company who wants to develop or expand software competence in areas like artificial intelligence, embedded software, agile development and cyber security.
More than 5,000 Continental employees have taken advantage of the program since it started last year, and more than 13,000 can access the platform.
"From a global employee survey all the way down to 360-degree feedback for individuals, we know that input from our team members makes us stronger," Rick Ledsinger, senior vice president of human relations for Continental North America, said. "Even more important than soliciting feedback is what we do with it. When our employees talk, we listen — and take action."
Other honors Continental earned recently in the employment field include: a spot among the top 100 on the Forbes' America's Best Employers list and certified as an official Great Place to Work; one of the best companies for women by Fairygodboss; and a Best Employer for Diversity by Forbes magazine.