29 Saudi Arabian firms listed among top 50 CEOs in the MENA region

[al-Hasani]

Last updated: Thursday, December 12, 2013 8:03 AM

DUBAI – Five companies from the Kingdom feature among the top 10 of TRENDS’ Top 50 CEOs List of 2013, with 10 making the top 20, according to a press statement issued by TRENDS, a leading magazine on Arab affairs in the Middle East and North Africa (MENA) region.

As the role of CEOs and business leaders becomes more complicated and challenging across the world due to transforming economies since the financial slowdown, Kingdom-based companies have shown great resilience and determination to steer clear of the recent slowdown.

The industry that undoubtedly performed best within the Kingdom was the banking sector, which in itself is an indication of better regulation and governance beginning to take shape across the Gulf’s largest economy.

In 2012’s rankings by TRENDS, 15 Kingdom-listed companies featured in the top 20, compared to 10 this year.

The five top Kingdom-listed companies in 2013 are also the top five companies of the entire listing: Fawaz Alhokair Group, the retail and real estate firm, was positioned in first place in 2012 and has maintained this top ranking in 2013; manufacturing giant Al Hassan Ghazi Ibrahim Shaker Company was ranked ninth last year but in 2013 it has climbed into the top 10 at no. 2; Advanced Petrochemical Company was ranked 42nd in 2012 but it is now in the top 10 at third position; Saudi Basic Industries Corporation (SABIC) was 39th on 2012’s list but this year it is fourth; Saudi Arabian Fertilizer Company (SAFCO) gained a respectable 32nd position in 2012 but has shot into the top 10 at no. 5 this year.

In TRENDS’ Top 50 CEOs of 2011 list, banks and insurance firms were in the majority, while 2012’s list is dominated by retail, telecom and construction companies. Once again, for 2013, it is the banking, telecom and construction sectors that are taking the top spots from Kingdom-related companies.

The methodology adopted in finalizing the rankings is transparent and simple: TRENDS rates performance of the CEOs through the financial statements posted by the publicly listed companies at the end of each financial quarter.

“The Top 50 CEO power list is one of a kind in the region, as a very succinct scientific methodology structure is utilized to gain the most accurate and realistic ranking,” Co-CEO of Mediaquest Group, Julien Hawari. “The list will undoubtedly prove to be a valuable gauging tool for business managers and readers in helping to understand the changing dynamics of the business climate in the region,” Hawari said. — SG

Saudi Gazette - 29 Saudi listed firms among Top 50 CEOs

 

[Yzd Khalifa]

We want more Saudi firms to dominate the market