Houston CEOs make it rain: Two rank among the Top 10 wealth creators in America
Houston is basically overflowing with jobs, with more than its fair share of billionaires and a number of companies ranked among the Fortune 500 — two of which have CEOs ranked among ChiefExecutive.net's Top 10 wealth creators of 2012.
Cameron International, a Houston-based oil and gas services and equipment provider, took No. 5 in the overall rank, improving its economic margin by 20.5 points to 94.6 in 2012. CEO Jack B. Moore has worked with the company for 13 years, with four years at its helm.
Merrill A "Pete" Miller, Jr., CEO of National Oilwell Varco (NOV), ranked No. 9 with an economic margin score of 92.6 points. Miller joined the company in 1996 and rose to become president and chief executive officer in 2001.
ChiefExecutive.net notes that NOV has smartly acquired key companies to position itself as the "only source of rig equipment for many of the largest offshore drillers" with "a full-range offering" and low prices. The steady rise in oil prices over the past several years hasn't hurt the demand, either.
Taking the top spot on the list was Coach, the purveyor of luxury handbags and other accessories, which has been under the direction of CEO Lew Frankfort since 1995. The company took a hard hit during the recent recession, but snapped back quickly, with a meteoric rise from No. 84 on the list in 2011 to No. 1 this year.
Philip Morris' Louis C. Camilleri took No. 2, followed by Fastenal's Willard D. Oberton at No. 3 and ONEOK's John W. Gibson, Jr. at No. 4. See the full ranking of wealth generators — which includes Southwest Airlines' Gary Kelly in a not-so-hot-spot — here.