Best-Practice EVA

Praise for Best-Practice EVAThis is the best-ever guide to using EVA-the most valuable and important corporate finance tool of the past thirty years.-Geoff Colvin, Senior Editor at Large, FortuneWe're implementing Best-Practice EVA with EVA Dimensions; I expect that the tools and metrics will become quite common in our vernacular at PepsiCo. The new EVA ratios are a helpful way to dissect EVA and help the organization focus on the opportunities.-Hugh F. Johnston, Executive Vice President and Chief Financial Officer, PepsiCoThroughout my career, I have been intensely interested in how value is created, and how financial leaders and innovations can play a critical role. Best-Practice EVA is as good a guide as I have seen on the subject. It is chock-full of practical techniques that any chief financial leader can use to help improve corporate performance and create owner wealth.-Jim Lawrence, Chairman, Rothschild North America and Co-Head of Global Investment Banking, Rothschild Group, and former CFO of Unilever and General MillsBest-Practice EVA provides practical tools for my everyday world of equity analysis-particularly EVA Margin and EVA Momentum, two universally scalable metrics that provide insight into how CEO strategies and shifts in the competitive landscape change shareholder value.-Joe Joseph, Portfolio Manager, Putnam InvestmentsThis book should be the go-to guide for executives seeking to improve how they set objectives, align strategy efforts with value creation, and ensure crystal-clear success measurement. Business unit leaders will like the simple and practical approaches that clearly link EVA with actionable operating levers. The book is filled with examples that vividly bring the concepts to life. I recommend it highly.-Fareed A. Khan, Chief Financial Officer, United StationersBennett Stewart has liberated EVA for all. His new ratio-based version is a real innovation that takes the perceived complexity out of EVA and enables an organization to connect all its efforts to the creation of value . . . from the sales floor to the boardroom. I like it. We'll use it.-Michael Archbold, CEO, Talbots, and former CFO of Vitamin Shoppe and AutoZoneI believe EVA can be one of the tools that help corporate boards to safeguard and enhance shareholder value. Bennett Stewart exposes the flaws in conventional financial ratios-pitfalls every director should understand. He cleverly explains the nuts and bolts of EVA and how board members can use it to rate business plans, set targets, judge and benchmark performance and even to value acquisition candidates on their real financial merits. A recommended read!-T. K. Kerstetter, Chairman, Corporate Board MemberBennett Stewart has written an insightful and provocative reexamination of the EVA concept that he pioneered two decades ago. This is an important read for those interested in executive incentive structure and the practical applications of finance theory.-Charles M. Elson, Edgar S. Woolard Jr., Chair in Corporate Governance, Director, John L. Weinberg Center for Corporate GovernanceBest-Practice EVA provides fresh insights into the power of EVA-the creative and important metric developed by Bennett Stewart. This is must-reading for anyone interested in increasing shareholder value.-Ira Kay, Managing Partner, Pay Governance