Surprising new announcement courtesy of Harvard Business Review. The publication’s list of the world’s top 100 CEOs only included three executives from China.
According to the Economic Times of India:
“The number was small in contrast to China’s economic influence in the world.
Li Jiaxiang, ex-CEO of Air China, was ranked 17th, Wang Dongming, CEO of CITIC Securities ranked 83rd and Dong Mingzhu of Gree Electric Appliances rated 98th, the China Daily reported Saturday.
The best-performing CEO list was compiled by the Harvard Business Review, according to a company’s shareholder return and market capitalization growth during the CEO’s term.
‘China has been the growth miracle of the past decade, so you might expect CEOs there to have done very well, but we find that the opposite is true,’ wrote the authors who compiled the list.”
So why such low numbers? CNBC didn’t really know either. But said that things certainly will change in the future. Of course:
“Chinese business leaders told the study’s authors – Morten Hansen of University of California, Berkeley and Herminia Ibarra and Urs Peyer of Insead – that ‘as the country’s companies become more innovation-focused, their performance will improve’.
US companies’ chief executives take six of the top 10 spots, but also generally punched below their weight. Their average position among the 3,143 chief executives analysed was lower than that of counterparts from Latin America, India and the UK. ‘US CEOs have not been as competitive on a global scale as one might think,’ the authors said.
What do you think? Why do Chinese CEOs lag behind the rest of the world?
Read more on China, France, America and the world beyond in the latest edition of Carnet Atlantique!