Global organizational consulting firm Korn Ferry has released a new report analyzing the evolving landscape of CEO appointments in Saudi Arabia, shedding light on the key trends shaping leadership transitions across the kingdom’s top companies.
Titled CEO Succession in Saudi Arabia 2025, the report offers an in-depth examination of how businesses are approaching CEO succession — an issue of growing strategic importance.
The analysis is based on publicly available data from CEO succession events among the top 100 publicly listed companies on the Tadawul stock exchange, ranked by market capitalization.
While the report focuses on succession planning strategies and challenges, it also reveals a distinct shift in the profile and background of newly appointed CEOs in Saudi Arabia.
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Key findings from the report
Younger Saudi leaders take the helm: The average age of newly appointed CEOs fell to 47 in 2024, with 65 percent assuming the role for the first time. This signals growing trust in a new generation of younger, homegrown executives.
Preference for internal talent: A significant 71 percent of new CEO appointments were internal promotions, highlighting the value placed on leadership development and continuity within organizations.
Balancing internal growth with external benchmarking: While internal succession ensures alignment and speed, the report notes the importance of benchmarking against external talent to maintain objectivity and uncover areas for development.
Strong nationalization trend: 88 percent of newly appointed CEOs were Saudi nationals, reflecting the kingdom’s ongoing emphasis on building local leadership in line with national goals.
Gender diversity still a challenge: No women were appointed as CEOs within the Tadawul top 100 in the past year. However, Korn Ferry notes a steady rise in the number of Saudi women reaching director and C-suite positions, signaling gradual progress toward more inclusive leadership.
Leadership for Vision 2030: The report emphasizes that developing internal talent remains the fastest route to building a robust leadership pipeline. At the same time, strategic external hires can bring in fresh thinking and global expertise, supporting Saudi Arabia’s broader Vision 2030 objectives.
Leadership succession
Korn Ferry stresses that CEO succession should be viewed not as a standalone event but as a continuous process integral to corporate governance, talent development, and business resilience.
Danny Leinders, Head of Executive Search Middle East & North Africa at Korn Ferry, said: “As Saudi Arabia accelerates its transformation under Vision 2030, we are seeing companies recalibrate what leadership looks like.
“This shift towards younger, locally promoted, and first-time CEOs reflects both growing leadership confidence and a maturing talent strategy. Boards and leadership teams that embrace this change, and plan for it, will be best positioned for long-term resilience.”
As of 2024, none of the CEOs appointed to companies listed on the Tadawul stock exchange simultaneously serve as chairman — a direct result of governance regulations mandating the separation of the two roles.
This policy, enforced by the Saudi Stock Exchange, is rooted in Article 19 of the Corporate Governance Regulations issued by the Capital Market Authority (CMA) of Saudi Arabia. The regulation is designed to ensure a clear separation of powers, reinforce board independence, and enhance transparency in decision-making.
This structural separation reflects Saudi Arabia’s commitment to international governance standards and its continued progress in adopting best practices. By drawing a firm line between executive management and board oversight, the Kingdom is strengthening investor confidence and fostering sustainable business leadership.
More broadly, CEO succession planning is now being recognized not merely as an operational necessity but as a strategic imperative — one that supports the long-term success of Saudi companies and aligns with the kingdom’s ambitious Vision 2030 goals.
