LIFETIME ACHIEVEMENT, AWARD RECIPIENT
William D. Morean has always demonstrated a strong work ethic and sense of adventure. These qualities would serve him well as he set about turning his family’s small-town, garage-based start-up into one of the largest electronics manufacturing companies in the world.
The ensuing growth of Jabil stems from Morean’s initial foresight that outsourcing electronics design and manufacturing services would become a highly lucrative industry. His first step toward expansion occurred in 1982 when he relocated the company’s headquarters to St. Petersburg, Fla. Then in 1993, he established Jabil’s first international location in Livingston, Scotland. Within four years, two more sites were established in Malaysia and Mexico.
Today, Jabil operates across 60 sites in 27 countries, spanning four continents. Its international presence has opened up new markets for revenue and prompted diversification of services to better serve its client base, which includes Cisco Systems and Hewlett Packard. Morean also fostered growth by leading Jabil’s initial public offering on the NASDAQ in 1993. The company employed about 2,000 people at the time. Today, Jabil employs a global workforce of more than 100,000 people. Since going public, Jabil is one of five companies to have grown at a compound annual growth rate of 25 percent or higher.
Now as chairman, Morean is also credited for laying the framework for Jabil’s technological growth. He was an early adopter of automated component placement machines and strived to stayed ahead of his customers’ own technologies. He established the company’s research and development division, which now guides customers in better electronics design.
Today, Morean is a quiet supporter of many charitable organizations in the areas of children, education and abused women.
HOW TO REACH: Jabil, www.jabil.com
