Mohamed Turki Al Sobai receiving the award from the Minister of Water and Environment in the UAE.
Doha: The world’s leading business and economic magazine Forbes (Middle East) has selected Mohamed Turki Al Sobai, Vice – Chairman and Managing Director of Qatar Fuel (Woqod), among the top three 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 November 6 under the patronage of Dr Rashed bin Ahmed bin Fahed, The Minister of Water and Environment of the UAE, and based on the result of a comprehensive study conducted by Forbes ME, Magazine.
The study was based on analysing 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 and examined 11 major sectors such as banks, services, financial services, investments and petro-chemicals. 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.
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 return on assets exceeded 27 percent, 25 percent for market capitalisation and EPS and 24 percent 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 elements can’t be fulfilled without the long experience and dedication of mangers. Most of the leaders in the list were occupying 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 five years and above.
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