A new generation of chief executives is emerging in Saudi Arabia, with companies appointing younger, locally promoted leaders as the Kingdom pursues its Vision 2030 transformation agenda.
Korn Ferry, the global organisational consulting firm, has released analysis showing the average CEO age among Saudi Arabia’s top publicly-listed companies dropped to 47 in 2024.
Younger CEOs rise in Saudi Arabia
The report examined CEO succession events across the top 100 companies by market capitalisation on the Tadawul stock exchange.
The data reveals 65 per cent of new CEOs stepped into the role for the first time in 2024, whilst 71 per cent were internal promotions rather than external hires.
Saudi nationals accounted for 88 per cent of recent CEO appointments, demonstrating the country’s focus on developing local leadership talent.
“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,” Danny Leinders, Head of Executive Search Middle East & North Africa said.
The report, titled CEO Succession in Saudi Arabia 2025, found that whilst internal succession offers continuity and speed, benchmarking against external talent ensures objectivity and highlights development needs.
Internal development currently provides the quickest path to strengthening Saudi Arabia’s leadership pipeline, though external hires remain important for bringing fresh perspectives.
Gender representation remains a challenge, with no women appointed as CEOs among Tadawul’s top 100 companies in the past year.
However, Korn Ferry noted increasing numbers of Saudi women taking on director and C-suite positions, indicating progress towards building a more inclusive leadership ecosystem.
The consulting firm encourages organisations to view CEO succession as an integrated component of corporate governance, talent development and business continuity planning rather than a one-off decision.
“Boards and leadership teams that embrace this change, and plan for it, will be best positioned for long-term resilience,” Leinders added.
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