Chief execs in China fall short in ranking of corporate leaders
By Wang Ying , China Daily/Asia News NetworkBEIJING -- Three chief executive officers from the Chinese mainland are among the world's top 100 corporate leaders rated according to their long-term performance by the Harvard Business Review this year.
December 24, 2012, 11:44 am TWN
But their number is too small in stark contrast to the country's economic influence in the world, management specialists said.
Of the best-performing CEO list, Li Jiaxiang, former CEO of Beijing-based Air China, is ranked 17th — the highest position of all Chinese candidates. Wang Dongming, CEO of Beijing-based CITIC Securities is ranked 83rd and Dong Mingzhu of Zhuhai-based Gree Electric Appliances is rated 98th.
The list is compiled 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 Morten T. Hansen, Herminia Ibarra and Urs Peyer, who compiled the best-performing CEOs list.
“Among the 3,143 CEOs we analyzed, the average rank of Chinese executives was 176 places lower than the average rank of U.S. executives. Only three Chinese (mainland) companies' CEOs made the top 100, though 17 percent of all the executives studied were from China,” the trio of compilers added.
But some experts believed the low ranking of China's CEOs is because of the lower competitiveness of Chinese companies.
“Chinese CEOs have to spend a lot of time dealing with the government apart from steering their companies in the business world,” said Liu Shengjun, executive deputy director of CEIBS Lujiazui Institute of International Finance.