The world’s leading business and economic magazine (Forbes) , Middle East has selected Mr. Mohamed Turki Al-Sobai, Vice – Chairman and Managing Director of Qatar Fuel (WOQOD) among the top 3 best executives in the list of regions top business leaders in the Arab world for the year 2011.
The ceremonial event took place in Dubai on the 6th of November under the patronage of His Excellency Dr. Rashid Bin Ahmed Bin Fahad, The Minister of Water and Environment of the U.A.E., and based on the result of a comprehensive study conducted by (Forbes), ME, Magazine for the performance of executive managements in the Arab public shareholding companies .
The study was based on analyzing disclosed annual financial statements of these companies during the period 2007-2011.
The study covered a sample of 324 companies working in the Arab markets (Saudi Arabia, Kuwait, U.A.E, Bahrain, Oman, Qatar, Jordan, Egypt and Lebanon), and examined 11 major sectors such as: (Banks, Services, Financial Services, Investments, Petro-Chemicals, Insurance, Retail, Real Estate, Energy, Manufacturing, Communication and Food Industry). The study included giant firms such as SABIC who ranked the 18th in the sample, and National Bank of Abu Dhabi the 37th and finally Oman Petroleum the 40th.
The methodology of the study focused on examining the following indicators:
- Return on Equity (ROE).
- Earning Per Share (EPS).
- Return on Assets (ROA).
- Market Capitalization (M Cap).
Growth rate of the above ratios was calculated for the period 2007-2011 except for ROE which is only for 2011 .
The findings of the study revealed that WOQOD’s growth rates for ROA exceeded 27 % , 25 % for market cap and EPS and 24 % for ROE .
WOQOD also ranked No.3 among 46 listed Arab Company (GCCs, Jordan and Egypt) for the services sector with different activities such as : transport, logistics , technical, and covered different geographical areas .
It is worth noting that Forbes, ME, has adopted a technical model for assessment and evaluation of leaders in their achievements and decisions which impact the success of their companies. Hence, the net profit achieved by these firms in 2011 was considered as an important indicator for this classification, in parallel with long experience and stability which executives work hard to ensure for the future of their companies. These essential elements can’t be fulfilled without the long experience and dedication of mangers. Most of the leaders in the list were occupying high senior positions and experienced a wise and successful leadership for a long period, if not decades. The minimum period of experience for the listed leaders who is eligible for the evaluation was 5 years and above to reflect the most powerful and successful executive managers in the Arab listed companies.