MORRISTOWN, N.J. — Lawrence Bossidy, chairman of the board and chief executive officer of AlliedSignal Inc., was named Chief Executive magazine's 1998 CEO of the Year.
Chosen by his peers, Bossidy is the 13th recipient of the annual award. Previous winners include Bill Gates, co-founder and CEO of Microsoft and Jack Welch, CEO of General Electric Co.
Bossidy has been AlliedSignal's CEO since 1991. In that time, the company has gone from 52 splintered, largely domestic businesses to 11 global business units with sales averaging more than $1 billion each.
Morristown-based AlliedSignal makes aerospace and automotive products, chemicals, fibers and plastics. The company had 1997 sales of $14.5 billion.