Saudi Arabia bets on younger CEOs to steer new corporate era

​​Saudi Arabia is ushering in a new era of corporate leadership, with the average age of CEOs at top-listed companies falling to 47 in 2024.

Global consulting firm Korn Ferry attributes the shift to the kingdom’s Vision 2030 industrial blueprint, as companies increasingly turn to younger, Saudi-born leaders to drive transformation.

The data shows 65% of newly appointed CEOs are stepping into the role for the first time, and 71% were promoted from within, which the firm said is evidence of growing trust in homegrown talent.

With 88% of recent appointments going to Saudi nationals, Korn Ferry says Saudi Arabia is focused on building a leadership pipeline from within its borders.