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Forbes Middle East has announced its fourth annual list of the Top 100 CEOs in the region, shining a spotlight on the leaders driving success across diverse industries. This year’s list celebrates a range of executives, with Emiratis leading the charge with 27 entries, followed by Egyptians (21) and Saudis (14). The CEOs featured represent sectors such as banking, real estate, telecommunications, and more. Topping the list is Amin H. Nasser, President & CEO of Saudi Aramco, continuing his reign as the leader of one of the world’s largest oil companies.
The Top 10 CEOs in the Middle East for 2024
- Amin H. Nasser
Nationality: Saudi
President & CEO, Saudi Aramco
Latest Sustainability Milestone: Aramco and KAUST Partner on $100 Million R&D Initiative to Accelerate Innovation in Energy Transition and Sustainability - Sultan Al Jaber
Nationality: Emirati
Group CEO & Managing Director, ADNOC Group
Latest Sustainability Milestone: ADNOC Diversifies into Carbon Management with Strategic Stake in Storegga - Ahmed bin Saeed Al Maktoum
Nationality: Emirati
Chairman & Chief Executive, Emirates Airline & Group
Latest Sustainability Milestone: Emirates Creates $200 Million Aviation Sustainability Fund - Saad Sherida Al-Kaabi
Nationality: Qatari
Deputy Chairman, President & CEO, QatarEnergy
Latest Sustainability Milestone: QatarEnergy to build ‘world’s largest blue ammonia facility’ - Syed Basar Shueb
Nationality: Emirati
CEO & Managing Director, International Holding Company (IHC) - Nawaf S. Al-Sabah
Nationality: Kuwaiti
Deputy Chairman & CEO, Kuwait Petroleum Corporation (KPC) - Sultan Ahmed Bin Sulayem
Nationality: Emirati
Group Chairman & CEO, DP World
Latest Sustainability Milestone: DP World, Einride Announce Middle East’s Largest Electric Freight Fleet which will save 14,600 Tonnes of CO2e Annually - Isam Jasem Al-Sager
Nationality: Kuwaiti
Vice Chairman & Group CEO, National Bank of Kuwait (NBK) - Hatem Dowidar
Nationality: Egyptian
Group CEO, e&
Latest Sustainability Milestone: Etisalat by e& Chooses IBM To Help Operationalize Sustainability Across Their Businesses - Abdulla Mubarak Al-Khalifa
Nationality: Qatari
Group CEO, QNB Group
Latest Sustainability Milestone: QNB Group abides all sustainability standards, certifications and ESG criteria across internal and external operational levels
See the full list of top 100 CEOs here
These executives lead companies that are not only massive contributors to their economies but are also shaping the future of the Middle East through innovation, diversification, and sustainability.
Methodology Behind the Rankings
To develop this prestigious list, Forbes Middle East evaluated CEOs based on their impact on the region, their companies’ size, and their accomplishments over the past year. Key metrics included revenues, assets, market capitalization, and the innovations and initiatives spearheaded by the CEOs. Only CEOs of companies headquartered in the MENA region were considered, ensuring the list reflects regional leadership.
Executives who demonstrated a clear focus on innovation and sustainability were especially recognized. From the establishment of new ventures to the implementation of green initiatives, these CEOs are not just leading in profits but also in environmental and societal progress.
Sustainability and Corporate Responsibility
Sustainability is becoming a crucial element in the long-term success of businesses in the Middle East, particularly as the region transitions from its reliance on fossil fuels. As reflected in a recent PwC survey, 80% of business leaders in the region now have formal sustainability strategies, with over half integrating them into their operations.
Regional leaders like Abdulrahman Al Hatmi of Asyad Group and Said Zater of Contact Financial Holding are prime examples of CEOs incorporating sustainability into their businesses. Al Hatmi launched Hafeet Rail and opened the Asyad Container Terminal, pushing for more efficient logistics. Zater’s launch of a financing program for electric vehicles also demonstrates a clear alignment with sustainability goals.
Beyond these individual efforts, regional giants like Saudi Aramco, ADNOC, and Qatar Energy play critical roles in shaping the global energy landscape. These companies have increasingly focused on implementing sustainable practices in response to investor expectations and global climate initiatives. Khaled Bin Braik, Consulting Partner and Emiratisation Leader at PwC, highlights the importance of this movement, stating, “People are at the center of the ESG agenda. The engagement of employees is critical to progress on the sustainability roadmap.”
The Intersection of Sustainability and Employee Engagement
While companies focus heavily on environmental, social, and governance (ESG) initiatives, a gap remains between corporate sustainability efforts and employee priorities. PwC’s survey revealed that employees are more concerned with fair pay and career development than ESG efforts. Yet, bridging this gap is vital for meaningful organizational change. Companies that effectively embed ESG principles into their culture see improved employee retention, with 82% of employees more likely to stay when these values are integrated into the workplace.
The future of the Middle East’s largest companies depends not only on financial success but also on the ability to foster a culture that values sustainability. As Khaled Bin Braik emphasizes,
“People are at the centre of the ESG agenda. The engagement of the employees is critical to progress on the sustainability roadmap. ESG is an emotive topic and employees respond differently to it and engage at varying levels. Being perceptive of the employee sentiments and astutely designing personalised approaches to engage diverse employee groups can ensure that employees feel included and play their part in achieving the sustainability goals. It is in the interest of everyone that corporate leaders foster a culture where ESG is a core component of ways of working, and all employees feel enabled to make a positive contribution.”
In conclusion, Forbes Middle East’s 2024 list of the Top 100 CEOs highlights a new generation of leadership that is pushing boundaries in both economic achievement and sustainability. These leaders are not only steering their companies through a rapidly changing global landscape but also paving the way for a more sustainable future in the Middle East.