Source: Fortune
Summary
Several Fortune 500 companies, including Molson Coors Beverage Company, Bank of New York, Cigna Group, and State Street Corporation, have histories dating back to the 18th century. To survive for centuries, companies must pick the right industry and have leadership that avoids trouble, according to Richard Sylla, professor emeritus at NYU Stern School of Business. Financial institutions, such as banks and insurance companies, dominate the list of America’s oldest continuously operating firms.
Our Reading
The numbers tell one story. Molson Coors, founded in 1774, has evolved through mergers and expansions into a global beverage company. Cigna Group and State Street Corporation have operated for over two centuries, adapting to changes in their industries. JPMorgan Chase CEO Jamie Dimon is an example of an executive who has remained cautious about the economy, a mindset critical to long-term survival. Strategic discipline has also been key to the longevity of State Street, according to its president of investment services, Joerg Ambrosius.
Companies that survive for centuries have one thing in common: they are always looking for the next storm cloud on the horizon.
Author: Evan Null
