SIDELINES
FORBES MIDDLE EAST
6
Leader Mindset Taking the top job in any company is an incredible achievement but a mammoth responsibility. All bucks stop with the CEO. It’s a stressful, demanding, and all-consuming job, but also one that comes with an array of benefits and rewards. Not everyone would want or take the role, but those that do set the culture, tone, and path forward for the entire company. There are many thoughts and opinions about what makes a good CEO great. According to a 2019 report by McKinsey & Company, excellent CEOs tend to focus on six key mindsets and practices. They focus their corporate strategy on beating the odds; they manage people’s performance and company health by matching talent to value; they put dynamics ahead of mechanics and ensure there’s healthy teamwork among their top management; they help directors to help the business and promote a forward-thinking agenda; they center on the long-term ‘why’ while looking at the big picture, and they manage their time and energy to only do what they can do. For a different view, Glassdoor reported in 2021 that CEOs have 10 intrinsic traits. They value a positive culture, model transparency, communicate clearly, actively listen, continue to learn, inspire others, nurture new leaders, build resilience, bring everything back to the company mission, and prioritize diversity, equality, and inclusion. I think that great CEOs actually have some common traits with politicians. They connect with and understand the needs of a diverse populace, they understand the vision and requirements of their greater mission, and they find ways to align both to achieve the best possible outcomes. Of course, when leading a company the bottom line always wins, and when leading a country you don’t get to hire and fire the voters, but many good leadership skills apply to both. However, even the best CEOs have had a pretty challenging 12 months. They are trying to execute a recovery from the pandemic while listening to the changing needs of their teams regarding working practices, and now they are facing another potential economic crisis as new global geopolitical tensions make themselves felt. It’s really no wonder that there have been reports of a “great CEO resignation” in the first four months of 2022, with CEO exits in the U.S. increasing by 18% compared to last year, according to data from global outplacement services firm, Challenger Gray & Christmas. This month we publish our second annual list of the Middle East’s Top CEOs. These are the leaders managing the region’s biggest companies in terms of assets and revenues while also in many cases overseeing a workforce of thousands of people. This year will be testing their grit, but they are so far coming out on top. I hope you enjoy finding out what makes them special. —Claudine Coletti, Managing Editor
F O R B E S M I D D L E E A S T.C O M
JULY 2022
