As a diversified, multinational company, PACCAR maintains exceptionally high
standards of quality for all its products: they are well-engineered, are highly
customized for specific applications and sell in the premium segment of their
markets, where they have a reputation for superior performance and pride of
ownership.
PACCAR has earned a net profit for 64 consecutive years and paid a dividend
every year since 1941. PACCAR’s focus on producing the highest quality product
in the market, complemented by rigorous cost controls and the innovative use of
technology in all facets of its business, has enabled the company to achieve
steady growth.
PACCAR was recognized as one of the best-performing companies by Barron’s
magazine in 2003. Barron’s evaluated and ranked the 500 largest North American
companies by sales growth, cash flow and shareholder return.
Significant PACCAR accomplishments and actions during 2003/2002 include the
following:
• In 2003, PACCAR truck divisions (either Kenworth or Peterbilt) received the
highest customer satisfaction awards in all four segments of the prestigious J.D.
Power and Associates Heavy-Duty Truck Customer Satisfaction Study.*
• PACCAR has increased its regular quarterly dividend by 125 percent in the last
six years.
• PACCAR declared a 3-for-2 stock dividend, effective in February 2004.
• Kenworth and Peterbilt increased their U.S. Class 8 retail sales market share
from 19.7 percent in 2001 to a record 23.7 percent in 2002.
• PACCAR achieved a record 6.7 percent registration share in the Class 6-7 truck
and tractor market in the U.S. and Canada in 2002.
• PACCAR declared a 3-for-2 stock dividend, effective in May 2002.
• In 2002, the Peterbilt Model 330 earned the J.D. Power and Associates
Customer Satisfaction award** in the conventional medium-duty truck segment for
its Class 6-7 vehicle for the third time in the last four years. Kenworth won the
award in 2000.
• DAF Trucks’ Model XF was second in the 2003 International Truck of the Year
competition. DAF’s LF won the award in 2002.
• DAF, PACCAR Parts and PACCAR Australia established new records in sales
and profits in 2002.
• DAF increased its record market share to 12.2 percent in the above 15T market,
as well as increasing its market share in the 6-15T market to over 8 percent in
2002.
During 2003 PACCAR continued to accelerate its comprehensive reinvestment
program.
• More than $225 million has been invested in European truck operations
over the past five years, including the update of the entire range of DAF truck
products, assembly tooling and production lines, as well as developing industry-
leading engines.
• PACCAR Parts has opened its new 100,000-square-foot parts
distribution center at Leyland, U.K.
• Kenworth Truck Company has installed an automated paint system at
its truck plant in Renton, Washington.
• DAF Trucks launched the Electronic Dealership at its headquarters in
Eindhoven, The Netherlands, to showcase current and future technologies to its
dealer network throughout Europe.
• PACCAR Mexico recently installed a new chassis paint system and
assembly line.
*J.D. Power and Associates Heavy-Duty Truck Customer Satisfaction StudySM
**J. D. Power and Associates 1999-2002 Medium Duty Truck Customer
Satisfaction StudySM, Medium Duty Truck defined as Gross Vehicle Weight
Class 5, 6 or 7 truck. www.jdpower.com
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
Provide a brief (up to 100 words) biography about the leader of this nominated company:
Mark Pigott is Chairman and Chief Executive Officer and a Director of PACCAR
Inc. He joined PACCAR as an Internal Auditor in 1977, and has held a number of
positions with various PACCAR divisions including Peterbilt Motors and Foden
Trucks in the U.K. He became Chairman and Chief Executive Officer of the
company January 1, 1997.
Mr. Pigott graduated from Stanford University with a (B.S.) Industrial Engineering,
(B.A.) Humanities and (M.S.) Business from Stanford's Sloan Program. He was
awarded the OBE (Officer of the British Empire) in 2003.
Mr. Pigott is a member of The Business Council-Washington, D.C., Washington
State Roundtable, World Economic Forum-Davos, Switzerland, and an SAE
member since 1981, as well as being active in numerous local charitable
organizations.
