J. Willard Marriott Jr., chairman and president of the Marriott Corp., has been named 1988 "Chief Executive of the Year" by Chief Executive magazine.
Marriott was selected in part because of his team-building efforts in his worldwide hospitality corporation, a cover story in the publication's July/August issue said."Forget the Japanese. By placing the employee and the customer at the center of his hotel and food service enterprise and reinforcing their importance through his own example, Bill Marriott has created a kind of Mormon zaibatsu where values mold quality and service," the article said.
The question and answer piece also featured comments from other leading industry executives, praising their competitor's management skills.
Marriott, 56, started his career in the family business started by his father J. Willard Marriott Sr. working in Hot Shoppes restaurant chain as a student. In 1956, he joined the company and played a key role in the company's expansion into the lodging, food services and restaurant industry.
Marriott Corp. had more than $6.5 billion in annual sales in 1987 from 4,000 units operating in 24 countries and has developed $1 billion in real estate annually. 1987 earnings per share on net income of $223 million were $1.67, up 19 percent from the year before.