Page 72 - AAE PR REPORT - January 2024
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Top CEOs 2023
Many Middle East-based CEOs have more power and responsibilities than CEOs in
other regions as they head companies that are monopolies or duopolies in the Arab
world and market leaders globally. This phenomenon is partly due to GCC countries
investing their sovereign wealth into large domestic businesses. The region’s biggest
banks, telecoms, industrial, oil and gas, mining, and even hospitality companies are
owned by the government. This makes the role of the CEO even more challenging. As
well as managing a profitable business, the CEO also needs to focus on the vision of
the government. Many of these leaders also head government bodies, and some are
also ministers or cabinet ministers.
In 2023, the region’s top CEOs have focused on sustainability, consolidation, and
growth. Saudi Arabia, in particular, invested across sectors. Accelerated corporatization
boosted economies, and the consolidation of government companies saw larger
corporations emerge. A number of large IPOs in the region also unlocked value for
companies. Global events also contributed to burgeoning corporate profits, including the
FIFA World Cup Qatar 2022 and COP28 in Dubai.
https://www.forbesmiddleeast.com/lists/top-100-ceos-2023/
