Baton Rouge-based Lamar Advertising Co. CEO Sean Reilly has been awarded the 2015 Family Business Entrepreneur of the Year Award from Ernst & Young, the global tax and advisory services firm announced today.
Reilly is one of 10 executives along the Gulf Coast who have received one of the entrepreneur of the year awards from, but he’s the only one from Louisiana. The other nine winners are all Houston-area CEOs. Other award categories include business services, energy, health care, technology and others. The release does not specify why Reilly won the award in the family business category.
The award comes one year after Lamar converted to a Real Estate Investment Trust, which allowed the billboard and outdoor advertising giant to return cash to shareholders, avoid some federal income taxes and boost the value of the company’s stock.
The conversion lead to a 6.2% increase in first quarter 2015 revenues over last year, and a $213 million increase in net income in 2014 from 2013. According to Business Report’s 2015 listing of top 20 public companies—based on 2013 revenue—Lamar ranked No. 8 with roughly $1.25 billion in revenue.
Ernst & Young has award programs recognizing entrepreneurs in more than 60 countries. Each year the 10 Gulf Coast Area entrepreneurs named go on to be considered in the national program, with winners are announced in November.
Reilly replaced his brother, Kevin Reilly Jr., as CEO of the outdoor advertising company in 2011. Kevin had been CEO since 1989, and he now serves as the company’s president and board chairman. The brothers are sons of late Kevin Reilly Sr., a former state representative.
