Winners of Argaam Best CEO Award 2024

Argaam organized its inaugural Argaam Summit on Wednesday, May 14, which witnessed a notable attendance of financial sector experts and specialists, as well as listed companies’ executives.

In the inaugural edition, the summit also included a special ceremony for the Argaam Best CEO Award 2024. The award honors executives who have revolutionized their companies.

This award demonstrates Argaam’s dedication to promoting transparency, governance, and corporate excellence. The Argaam team developed the award criteria using a precise methodology that encompasses the company's financial and operational performance, the CEO's direct influence, and the level of disclosure and transparency.

The jury adopted the following criteria:

Term of office

- The candidate must have served as CEO of the company for at least two years.

- The candidate must have created innovations that contributed to the improvement of the company's performance.

The company's financial performance

- The company must achieve year-on-year (YoY) growth rates for key metrics, including net profits, shareholders' equity, revenues, assets, improved margins, and return on shareholders' equity and assets (financial indicators vary by sector).

- The company has to maintain its market share in Saudi Arabia and achieve sales growth.

- Growth in business efficiency ratios.

- Strategy and development.

- Announcing the company's strategy and its capacity to carry it out.

- Successful crisis management.

Disclosure and Transparency

- Governance in terms of transparency and adherence to accounting standards.

- Continuous communication by the CEO with investors through media channels or press releases.

- The company has an updated website that provides financial disclosures and investor presentations.

- Active investor relations department for effective communications with investors.

- Compliance with disclosure standards in Tadawul.

Notes:

- Sectors were classified according to business sectors on Argaam.

- Improving the company's financial performance is one of the main criteria, although sectors that experienced significant challenges that contributed to a drop in their financial performance were also taken into account. This was followed by an assessment of the ways in which executive management addressed the sector's challenges and communicated with investors.

- In the event of meeting the term of office and financial performance criteria, the extent of the CEO’s communication with investors through media channels was assessed. This includes evaluating the quarterly announcement of the significant financial reports, investor presentation and press release, disclosure, as well as communication with analysts and investor relations through the company’s website.

- Companies that committed to quarterly releases were taken into account for the Nomu-Parallel Market in addition to financial performance and duration of office.

The jury was chaired by Abedraboh Zedan, Head of Financial Data and & Statistics Manager at Argaam Investments.

The committee set the criteria based on a precise methodology that encompassed the company's financial and operational performance, a study of sector challenges, and the level of disclosure and transparency.

The jury committee shortlisted the CEOs nominated for the award based on criteria to ensure impartiality and credibility. Voting was opened by an external jury consisting of Jassim Al-Jubran, Head of Sell-Side Research at AlJazira Capital; Rayan Al-Karawi, Head of the Investor Relations Association; and Loai Mousa, Vice Chairman of the board of directors of IFS.

Top CEOs by Sector in 2024:

Banking Sector: Al Rajhi Bank’s Managing Director and CEO Waleed Abdullah Al-Mogbel

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Telecommunications Sector: stc Group CEO Olayan Alwetaid.

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Food and Beverages Sector: Almarai CEO Abdullah Albader.

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IT Sector: Arabian Internet and Communications Services Co. (solutions) CEO Omer Alnomany.

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Insurance Sector: Bupa Arabia for Cooperative Insurance CEO Tal Nazer.

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Financial Services and Investment Sector: Saudi Tadawul Group CEO Khalid Al-Hussan.

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Oil and Gas Sector: ADES Holding CEO Mohamed Farouk.

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Pharmaceuticals Sector: Jamjoom Pharmaceuticals Factory Co. CEO Tarek Youssef Hosni

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Healthcare Sector: Dallah Healthcare Co. CEO Ahmad bin Saleh Babaeer.

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Real Estate Development Sector: Retal Urban Development Co. CEO Abdullah Albraikan.

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Manufacturing Industries Sector: Electrical Industries Co. CEO Tariq Al- Tahini.

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Retail Sector: United Electronics Co. (eXtra) CEO Mohamed Galal.

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Education Sector: National Co. for Learning and Education (NCLE) CEO Mohammed Alkhudair.

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Transportation Sector: United International Transportation Co. (Budget Saudi) CEO Fawaz Danish.

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Energy Sector: Alkhorayef Water and Power Technologies Co. (AWPT) CEO Rami Mawssilli.

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Cement Sector: Riyadh Cement Co. CEO Shoeil Al Ayed.

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Professional Services Sector: Al Mawarid Manpower Co. CEO Riyadh Alromizan.

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Agricultural Sector: Al-Jouf Agricultural Development Co. CEO Mazen Badawood.

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Financing Sector: Amlak Finance CEO Adnan Alshobely.

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Petrochemical Sector: Advanced Petrochemical Co. CEO Fahad Al Matrafi.

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Nomu: Balady Poultry Co. CEO Turki Al-Shahrani.

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Nomu: Gas Arabian Services Co. (GAS) CEO Faisal AlDabal.

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Nomu: Saudi Azm for Communication and Information Technology Co. CEO Ali Al Ballaa.

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WSM for Information Technology Co. CEO Alanoud Alqahtani (honorary award).