InterDigital CEO Bill Merritt Featured by Bloomberg
Bloomberg yesterday published a slideshow featuring “Tech’s Top Turnaround Artists,” and InterDigital CEO Bill Merritt was featured at #17. His legacy so far? According to numbers compiled by Bloomberg Rankings, Bill took over leadership of a company in 2005 whose stock performance had sagged 22.1% over the past two years (during which the S&P 500’s return totaled 32.7%), and since then delivering 139.2% total return (through October 11) compared to the S&P’s total return of 77%.
Bill’s (and InterDigital’s) performance is even more telling when you look at the fate of some of the major players in the handset business over those same 8 years. Only two of the top six handset vendors in 2005 remain in the handset business in the same form. Apple and Google had yet to emerge as mobile players at all, and Blackberry had yet to begin its meteoric rise.