22 UAE listed firms in Top 50 CEO List
- Banks and telecom firms hold strong
- du climbs from 38th position in 2011 to 13th position this year
- “Our methodology is simple, transparent and authentic,” says Mediaquest Group Co-CEO Julien Hawari
- We need to work harder to create a knowledge-based economy, say du Chief Executive, Osman Sultan
December 10, 2012 12:03 by Mediaquest Marketing
Dubai, UAE – December 9th, 2012 Five companies from the UAE feature among the top 20 of TRENDS’ Top 50 CEOs List of 2012. As the role of CEOs and business leaders becomes more complicated and challenging across the world due to financial downturn, the UAE-based companies are also affected.
In last year’s rankings by TRENDS, there were 14 UAE-listed companies compared to just five this year. The five top UAE-listed companies in 2012 are:
1) Abu Dhabi Commercial Bank – the bank topped the list in 2011 but this year it was ranked sixth.
2) Du – the telecom company was ranked 38th last year but in 2012 it has dramatically climbed to No.13.
3) Union National Bank was ranked 14th in 2011 but it is now ranked 16th.
4) National Marine Dredging Company was ninth on 2011’s list, but this year it is 19th on Top 50 CEOs list.
5) Emaar is the only company that has maintained its ranking. The Dubai-listed company continues to be No.20.
TRENDS, one of the leading international English magazines on Arab affairs in the Middle East, started ranking the top chief executive officers in the GCC countries last year.
In 2011’s TRENDS Top 50 CEOs list, banks and insurance companies were in the majority, while 2012’s list is dominated by retail, telecom and construction companies.
The methodology adopted in finalising the rankings is transparent and simple. Trends rates performance of the CEOs through the financial statements posted by the publicly listed companies from time to time.
Co-Chief Executive Officer of Mediaquest Group, Mr Julien Hawari, said:
“TRENDS’ method of ranking the CEOs and businesses is simple, authentic and transparent. Our team compared growth figures of companies listed on DFM, ADX and Tadawul in 2010, 2011 and 2012 [until Q3], and closely examined profitability, share prices, size and reputation of the company in the market. We allotted points to each company according to the results posted by them on respective stock exchanges.
“One of the interesting aspects of the methodology is the turnaround factor, but in 2012 no company earned points on that count,” said Mr Hawari.
Spelling out tasks for the business leader to TRENDS, CEO of Du Osman Sultan, said people leading a business team should take into consideration the global economic environment. “I believe that there are three major points that everyone should bear in mind: focus on core competencies; take calculated risks but don’t ignore the basics, and listen to the needs of customers,” he said.
For challenges in 2013, Mr Sultan said: “The biggest challenge is that the needs and aspirations of the region’s youth need to be met. To do this, we have to create jobs, assist them in developing their career, and fuel their dreams and talents.
“We need to work harder to create a knowledge-based economy, which will be pivotal to the economic success of the region. Thankfully, we are in a part of the world, which is well-positioned to take advantage of this.
“In terms of telecom, there is the need for us to become more efficient while looking at creating new revenue streams and business models, such as those in ‘Content’.
“This will allow us to continue being relevant to our customers. On top of this, we have to create hubs that will attract the best, and most innovative, talent in the telecom industry to come to the region,” said the Chief Executive of du.
The 2012 power list of the Top 50 CEOs will help business managers and readers understand the changing dynamics of business in the region.
High resolution imagery is available on request
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For more than 20 years, Mediaquest has provided unique insights into the Arab world through its diverse range of media. It operates in Algiers, Beirut, Dubai, Jeddah, Riyadh and Paris and publishes in three languages.
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