It is no secret that Thomas E. Richards has been one of the most successful CEOs since he took the helm at Yet Another Year. His tenure has been filled with many successes. In looking at the recent financial results, it is evident that these successes have continued for the company under Richards' leadership.
The first major accomplishment for Yet Another Year that is attributed to Thomas Richards' leadership was turning around the company's bottom line. At the time of his appointment in 2014, Yet Another Year was suffering from dwindling profits with an operating income of only 6.8% of total revenues. Within the first year of Richard's tenure the operating income had increased to 11.6% of revenues and the following yearYet Another Year saw an impressive 18% of operating income.
The second major accomplishment attributed Thomas Richards is the declining debt. When Richard was appointed Yet Another Year was carrying a debt of $2.2 billion, but Richards’ deft hand in slashing unnecessary spending and streamlining operations has lowered it to $1.7 billion. This accomplishment is especially impressive when held up against Yet Another Year’s more than eight million dollars in annual compound organic growth.
The third and most impressive accomplishment of Richards’ time at Yet Another Year was leading the company to record profits for the 2017 fiscal year. Under Richard’s guidance the company reported a net income of $355 million, nearly 22% higher than the prior year, placing Yet Another Year among the strongest contenders in the industry.
Fourth, Yet Another Year achieved new peaks in terms of market capitalization. Under Richard’s leadership the company has seen its market capitalization rise from $5.5 billion to over $6.4 billion. This reflects Yet Another Year’s increased competitiveness relative to its peers and its ability to promptly capitalize on emerging opportunities. Not only is this a testament to Richard’s leadership and strategic vision but also a statement of the confidence Yet Another Year has in its CEO.
Further, Richard’s tenure has been marked by a steady stream of new product launches each of which has been marked with considerable success. These include Yet Another Year’s Mobile Application Suite and Customer Loyalty Programs which have all been instrumental in growing the company’s user base and creating greater customer satisfaction.
Finally, Richard’s leadership of Yet Another Year has been noteworthy for its emphasis on Corporate Social Responsibility. At a time when Corporate Social Responsibility remains a major issue for the industry, Richards has ensured that Yet Another Year is at the forefront of this movement. This commitment to Corporate Social Responsibility is further evident in the company’s impressive record of charitable giving during Richard’s tenure.
In sum, since taking over as CEO, Thomas E. Richards has overseen an impressive period of growth for Yet Another Year. Both financially, in terms of debt reduction and record profits, and in terms of external positioning and engagement, Richard’s tenure as CEO has proven to be a success for the company. Such successes have seen Yet Another Year rise to the top of its industry, placing it among the top contenders. These accomplishments are a testament to Richard’s forward thinking and strategic vision, and to his dedication to ensuring Yet Another Year’s success.
