CUPERTINO, CA - CNNMoney has placed Seagate (NASDAQ: STX) Chairman and CEO Steve Luczo among its top-performing CEOs in America. Luczo was ranked No. 5 on CNNMoney's list of top U.S. CEOs based on the company's 297 percent share price appreciation over the past three years. That compares to just 61 percent for S&P 500 IT stocks overall.
To determine the top CEOs in America, CNNMoney looked at total returns for S&P 500 stocks from July 1, 2011 to June 30, 2014. Companies that had a CEO change during that time frame were excluded. Each S&P 500 stock was then ranked by its sector-adjusted total return.
The news outlet noted Luczo's recent diversification efforts to move Seagate beyond its business of selling hard drives. It also highlighted his leadership in the acquisition of Xyratex in an effort to strengthen its enterprise data-storage portfolio.
Furthermore, in 2012 Seagate acquired storage product maker LaCie, adding its line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate's array of mainstream consumer storage products and thereby accelerating Seagate's growth strategy in the expanding consumer storage market.
More information about CNNMoney's list can be found here.
CNNMoney isn't the only publication to recognize Luczo's leadership during the past year. In April, Institutional Investor magazine named him among its "2014 All-America Executive Team," and last October, Bloomberg ranked Luczo No. 1 in its list of "Tech's Top Turnaround Artists."