Saudi Arabia’s Prince Alwaleed has been named as the Gulf’s most efficient boss in a new survey by Arabian Business.
The survey – which examined the profits generated by each employee in a company – found that HRH’s Kingdom Holding Company delivered $2.96 million profit per employee.
Arabian Business examined the 2010 H1 profits of the 50 top companies in the GCC (ranked by market capitalization). The survey calculated “efficiency” by using the formula of H1 profits divided by the number of employees.
Kingdom Holding, which turned in $56.2 million profits for H1, has 19 staff now working directly for the group.
Qatar Gas Transport Company’s managing director Muhammad Ghannam came second in the list, delivering $696,923 profit per employee, with First Gulf Bank CEO Andre Sayegh in third place (the highest ranked UAE company), after registering $558,179 profit per employee.
Qatari companies dominated the list, with five in the top ten. Next to Kingdom Holding, the highest place Saudi company was Dar Al Arkan Real Estate, with $445,600 per employee.
Kuwait’s most efficient company, according to the survey, is Mobile Telecommunications, with $207,200 profit per employee.
The last four companies in the survey showed negative efficiency, with Zain Saudi Arabia in 50th place, delivering minus $759,382 profit per employee.