S&P Global Inc. SPGI yesterday announced retirement of David M. Blitzer, Managing Director and Chairman of the Index Committee, effective in August.
For years, Blitzer has been the principal voice in deciding the composition of Dow Jones Industrial Average. He also oversees the composition of the S&P 500 and chairs other index committees for S&P.
We observe that S&P Global’s shares have gained 25.4% year to date, compared with 20.5% rise of the industry it belongs to.
End of an Illustrious Carrier
Blitzer held a number of senior positions in his near 40-year carrier with S&P Global. He joined S&P Global (then known as McGraw-Hill Companies) in 1980 as a corporate economist and became Standard & Poor's chief economist in 1982. He joined the index committee in 1989 and became its chairman in 1995.
Blitzer has a long list of achievements, the recent one being William F. Sharpe Indexing Lifetime Achievement Award in 2012. In 2000, he was ranked 7 in SmartMoney magazine's distinguished list of the 30 most influential people in the world of investing. He received the Blue Chip Economic Forecasting Award in 1998 for the most precise predicting of the country's leading economic indicators for four years in a row.
"We will miss David's leadership, intellect, generosity and sense of humor, as well as his ubiquitous bowtie," said Alex Matturri, Chief Executive Officer at S&P Dow Jones Indices.
Zacks Rank and Stocks to Consider
Currently, S&P Global carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Insperity NSP, Automatic Data Processing ADP and FLEETCOR FLT. While Insperity sports a Zacks Rank #1, FLEETCOR and Automatic Data Processing carry a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for Insperity, Automatic Data Processing and FLEETCOR is 18%, 13% and16.5%, respectively.
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