Best Female CEOs #1 — Carol Meyrowitz (TJX Companies)
Meyrowitz has worked for TJX Companies (TJX) for the past 31 years. Since she became CEO in January 2007, TJX stock has achieved an annualized total return of 23% — more than 15 percentage points higher than the SPDR S&P 500 ETF (SPY). An even better indication of the job she’s done is the fact that TJX stock has beaten its apparel store peers in six of the seven years since Meyrowitz took the top job. Shareholders have no doubt that she’s one of the best female CEOs — and one of the best CEOs, period.
From a numbers perspective, you can’t help but admire her. When she took over, TJX had annual revenues of $17.4 billion and operating income of $1.3 billion. Fast forward seven fiscal years and its revenues are $10 billion higher with operating income almost 200% higher at $3.4 billion. TJX has 3,252 stores in the U.S., Canada and Europe and plans for an additional 1,900 in the future, so its top- and bottom-lines can only get bigger and better. Turning inventories more than 13 times a year, it keeps the product on the floors fresh and new.
TJX is considered by many to be one of the best-run retailers in America. However, if the numbers don’t convince you, consider that TJX repurchased 24 million of its shares in fiscal 2009 at an average cost of $15.43 per share (adjusted for 2-for-1 split in 2012) — a level that hasn’t been seen since. Timely capital allocation is the hallmark of good companies.
One final thought: TJX has 11 board members and four (including Meyrowitz) are women. For my money, Meyrowitz has to be considered one of the best female CEOs in the world.
As of this writing, Will Ashworth did not own a position in any of the aforementioned securities.