Harris Corporation's Michael Maurer Named as Finalist in 2008 American Business Awards
June 03 2008 - 9:00AM
PR Newswire (US)
ROCHESTER, N.Y., June 3 /PRNewswire-FirstCall/ -- Michael P.
Maurer, vice president/controller of the RF Communications division
of Harris Corporation (NYSE:HRS), has been named one of three
finalists in the "Best Executive - Financial Service" category of
the 2008 American Business Awards, also known as the Stevie(R)
Awards. The "Best Executive" selection and other Stevie Awards will
be announced during a special dinner at the Marriott Marquis Hotel
in New York City on June 12. Maurer's leadership has contributed to
outstanding financial performance of the Rochester-based Harris RF
Communications, the leading supplier of secure voice and data
communications products, systems, and networks to military,
government, and commercial organizations worldwide. Harris radios
are used in more than 100 countries. Over the past three years
(fiscal years 2005-2007), revenue at Harris RF Communications has
grown from $537 million to $1.2 billion, a compound annual growth
rate (CAGR) of 48 percent. Operating income has grown from $167
million to $403 million, a CAGR of 56 percent. "Michael Maurer's
contributions to Harris RF Communications go well beyond the
numbers. He is a valued business partner and strongly believes that
his role is to help our employees achieve their career aspirations
- and then go farther," said Dana Mehnert, president of Harris RF
Communications. "He has built a financial organization that
embraces ethical behavior, respect for the individual, and
continuous improvement. No matter where we do business in the
world, his group maintains its core values of integrity, honesty,
transparency and responsibility." Maurer, a 30-year Harris
employee, is currently leading a company-wide best practices
working capital initiative to drive working capital improvements
throughout Harris Corporation by leveraging initiatives that have
worked well at RF Communications. He previously initiated an RF
Communications Finance Institute that has resulted in more than 20
different courses for finance, information services, accounting and
contract employees. During fiscal year 2007, a team led by Maurer
reduced inventories by more than $30 million, increasing inventory
turns from 3.4 times to more than 7 times. Over this same period,
revenue increased over $370 million. About the Stevie(R) Awards
Beginning with The American Business Awards in 2002, the Stevie
Awards were created to honor and generate public recognition of the
efforts, accomplishments, and positive contributions of companies
and business people worldwide. Stevie is taken from the name
Stephen, which is derived from the Greek for "crowned." In 2007,
more than 2,000 nominations were submitted for consideration in
more than 40 categories. Business professionals nationwide chose
finalists during more than five weeks of preliminary judging.
Details about The American Business Awards and the list of
finalists in all categories are available at
http://www.stevieawards.com/aba . About Harris Corporation Harris
is an international communications and information technology
company serving government and commercial markets in more than 150
countries. Headquartered in Melbourne, Florida, the company has
annual revenue of more than $5 billion and more than 16,000
employees -- including nearly 7,000 engineers and scientists.
Harris is dedicated to developing best-in-class assured
communications(R) products, systems, and services. Additional
information about Harris Corporation is available at
http://www.harris.com/ . "Stevie" is a registered trademark of
Stevie Awards, Inc. DATASOURCE: Harris Corporation CONTACT: Jim
Burke, Corporate Headquarters, of Harris Corporation,
+1-321-727-9131, Web site: http://www.harris.com/
http://www.stevieawards.com/aba
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