The United Arab Emirates topped Forbes Middle East's list of the "Strongest CEOs" in the region for 2024, hosting 27 CEOs. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airlines and Group, ranked third, following Sultan Al Jaber, CEO and Managing Director of the Abu Dhabi National Oil Company (ADNOC), who placed second. The ranking was led by Amin H. Nasser, President and CEO of Saudi Aramco. Saad bin Sherida Al Kaabi, Vice Chairman and CEO of QatarEnergy, came in fourth. The four leaders maintained their positions from last year's list. Meanwhile, Syed Bukhari Shuaib, CEO and Managing Director of International Holding Company (IHC), moved up four spots from ninth to fifth this year. Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, ranked seventh, and Hatem Duwidar, CEO of the Group, ranked ninth.
This year's list includes 100 business leaders from 19 different nationalities, with Emiratis leading the ranking with 27 CEOs, followed by Egyptians with 21 leaders, and Saudis with 14 CEOs, collectively making up 62% of the total ranking. This reflects a growing trend towards nationalization, with most major companies having local CEOs. The banking sector dominates the list with 19 leaders, followed by the real estate sector with 10 leaders, showcasing the industry's boom over the past two years. The CEOs in the top 10 positions lead companies operating in six different sectors.
To compile this year's list, Forbes Middle East ranked CEOs based on various factors, including their achievements and performance over the past year, as well as the innovations and initiatives they implemented, the size of the company they lead, and their impact on the businesses and markets they oversee. The ranking included only those CEOs whose companies are headquartered in the Middle East and North Africa region.