Ford Motor Company won the "Business Turnaround of the Year for Companies with More Than 2,500 Employees" at the 2010 American Business Awards, which were held Monday night, June 21, at the Marriott Marquis Hotel in New York.
The award recognizes the company's efforts to turn the corner in 2009 in the face of a global economic and financial crisis, as well as unprecedented events in the U.S. automotive industry.
Ford posted the first full year of positive net income since 2005, and a $17.5 billion improvement over 2008. Ford also gained market share in the U.S. in 2009 for the first time in 14 years despite increasing competition for buyers.
The awards are judged by more than 200 executives from across the country who evaluate more than 2,700 entries. The winners are presented annually to the best entries in 40 different categories, including management, customer service, marketing, human resources, communications, information technology and sales.
The awards were established in 2002 to raise awareness of the positive contributions of companies and business people. The honor is also known as the "Stevie" award. Stevie is taken from the name Stephen, which is derived from the Greek word for "crowned."
Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at: www.stevieawards.com
