Veterans day appreciation: Top 5 veterans in business(Read article summary)
On Veteran's Day, Americans celebrate those who served the country as members of the military. But after trading fatigues for suits, here are the top 5 veterans who have left their mark on the business world.
Sometimes, these GIs-turned-CEOs have gotten into rough spots. James Cayne, an Army veteran, led Bear Stearns right off a fiscal cliff. And Robert Benmosche, formerly of the Army Signal Corps, signed on in August to lead AIG out of the financial wilderness — and then this week allegedly told the board that hired him that he wanted to quit.
But quite often veterans are loyal and effective chief executives. A 2006 study by Korn/Ferrey International found that CEOs with military backgrounds both lasted longer than their totally civilian counterparts in the boss' chair and outperformed the S&P 500 index in periods of 3, 5, and 10 years prior.
Here is a list of the top 5 American veterans to have made their mark in the economic sector.
5. George Steinbrenner, Owner, New York Yankees
Branch of Service: Air Force.