46 of them reside in the UAE .. «Forbes» publishes the list of the 50 most powerful regional CEOs of the largest global companies
Forbes Middle East issued its list: (Global Meet Local) for the eighth year in a row, and it includes 50 regional chief executives who lead the regional headquarters of global companies included in the Forbes ranking of the most powerful 2000 public companies around the world (Global 2000).
The classification showed that the UAE tops the list in terms of regional headquarters, as it includes headquarters for 46 companies out of 50 classified CEOs.
The Forbes Middle East ranking revealed that 92% of the members on this year's list work for international companies with regional headquarters in the UAE, while only two of the classified CEOs lead two companies in Bahrain and one each in Saudi Arabia and Lebanon.
Global success
The ranking spotlights the leaders who are contributing to the global success of their companies, despite the challenges they have faced during a long year of turmoil.
The list included a group of senior leaders who have achieved many achievements, as it included 50 CEOs from 26 different nationalities;
Seven of them are of Lebanese descent, five from Germany, and four from Egypt.
The technology sector includes most of these companies, with 12 regional heads classified in the sector, followed by the health care sector with six regional heads, while the banking sector recorded five regional heads.
Corporate leaders
“Forbes Middle East” stated that the world today is more dependent on globalization than ever before, thanks to the power of technology that helps to further expand business internationally.
She explained that for the first time in history, there are many "non-governmental" global monopolies that control key sectors, as the market values of the five largest companies in the world have become greater than the GDP of a large number of countries.
The magazine emphasized that running a successful global company is more complicated than simply owning the appropriate technology and possessing huge amounts of capital, at a time when the success of companies worldwide in general depends on the extent to which they understand certain regions, as regional leaders need to take into account and assimilate the culture. Local, social customs, and other factors, such as demographics and infrastructure.
All this while keeping the brand spirit alive.
Therefore, the list shed light on regional leaders, such as the Vice President of "Amazon" for the Middle East and North Africa, Ronaldo Mashhour, who launched the idea of "White Friday" discounts, realizing that the traditional term "Black Friday" of the e-commerce giant is not compatible with Arab culture.
In turn, 3M Regional President Robert Nichols helped develop the business to meet the region's demand for personal protective equipment, in light of the global crisis facing the healthcare sector.
As for the head of French Schneider Electric for the Middle East and Africa, Casper Herzberg, the closures caused by the pandemic did not affect his regional strategy, as the company signed a new deal worth $ 295 million in Egypt, aiming to support the country's energy network for decades to come.
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