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KALAMAZOO, April 1. – No fooling: At long last, a corporate chieftain is
pictured in the company’s key corporate communique', the annual report to shareholders,
wearing—a muumuu. Plus, a broad smile, along with a "thumbs-up" sign, standing
beside "an equally ebullient" Dalai Lama.
Sid Cato, in Issue No. 188 of his Newsletter on Annual Reports, cites several CEOs who appear in their annuals without jacket or tie, or both. Only the U.K.’s Body Shop has a CEO, co-founder Anita Roddick, pictured wearing a flowing muumuu. Her report, so eclectic as her garb, features on the cover what some say is a marijuana leaf, "something you don’t see every day," Cato observed. Cato said the Armco Inc. report is "the current pack-pacer," its score 134 of a potential 135 points. (Ameritech, whose report for the third year in a row has achieved a perfect 135 points, is excluded from consideration for a top award by Cato’s rules. Those to make his list of world’s worst three times [Time Warner, for one] likewise are given a pass.) This is his 17th year of monitoring the world’s annual reports. For the last 15, he has chosen the world’s 10 best and 10 worst for Chief Executive magazine.
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