Tencent's Ma Leads at Davos: Championing Trust in Tech at the World Economic Forum

Huateng Ma, CEO of Tencent, recognised as world’s leading CEO in 2024 Brand Guardianship Index released at Davos, for his guardianship of WeChat brand

Huateng Ma, CEO of Tencent and the driving force behind WeChat, has taken top spot on the Brand Guardianship Index 2024. His leadership, marked by a steadfast commitment to innovation, user engagement, and trust, has not only propelled Tencent to remarkable heights in the technology sector but has also set a gold standard for CEOs worldwide.

This year, under Ma’s leadership, WeChat has become the world’s strongest brand, in a separate announcement from Davos at the World Economic Forum. Ma has led WeChat to build exceptional brand strength, underpinned by its essential, familiar, and trusted status in China, its dominant market.

Leena Nair of Chanel is world’s top female brand guardian, Jensen Huang of NVIDIA is number one for brand value growth during tenure

Chanel’s CEO Leena Nair was recognised as the world’s top female CEO, with respondents rating her as the best performing strategist. Nair’s leadership has been rated as having the strongest reputation amongst the top 100 CEOs. Nair is unusual in that she was hired to Chanel from outside the company, and her experience at Unilever appears to be serving her well.

Last year’s Brand Guardianship Index leader, NVIDIA CEO Jensen Huang, has fallen to third in the rankings, but remains the leader for brand value growth during his tenure. As the co-founder of the brand in the early 1990s, Huang has played a key role in turning NVIDIA from a challenger up-start gaming processor manufacturer to a modern AI leader that is playing a key role in changing the global economic landscape.

A growing role for ESG

Brand Finance constructs a balanced scorecard of measures designed to identify the factors that best capture the ability of CEOs to act as a steward of their company’s brand and steward long term value. This year’s analysis reveals that ESG has become the single most important driving force in determining CEO reputation. Being regarded as ‘a sustainability champion’ accounts for 14% of variation in reputation scores, ahead of factors such as perceived trustworthiness (12.5%), having ‘a strong strategy and vision’ and global recognition.

Tech's new vanguard: financial gurus lead the leap beyond engineers' era

In a striking shift in the technological landscape, the average compensation for CEOs in the top 100 firms has surged by 9% from last year, with the top salary witnessing a staggering 26% increase, placing Sundar Pichai at the apex as the highest earner. This upward trajectory in remuneration reflects the increasing importance of seasoned leadership within the tech industry.

In tandem, there's a notable transition in the background of these corporate titans; a majority now emerge from the financial sector, signalling a paradigm shift that underscores financial expertise as indispensable for steering a company. The diminishing presence of engineers and computer scientists at the helm is indicative of the generational handover as the original founders of the tech behemoths recede into retirement, making way for the next wave of leaders.

Concurrently, the industry buzz has pivoted from last year's metaverse mania to a fervent focus on artificial intelligence and strategic partnerships, reflecting the dynamic, ever-evolving priorities of the tech sector.

Study shows leaders need to harness and hone their brands to create value

The 2024 Brand Guardianship Index has found a strong correlation between excellent brand leadership and strong brand value growth for their businesses. On average, the brand values of brands led by the top 100 CEOs grew 10% this year. The brand values of brands led by the top ten CEOs grew by an average of 40% this year.

World’s top brand leaders ranked in study published at Davos

The comprehensive study ranks top CEOs and companies across various sectors, highlighting their achievements in technology adoption, sustainability efforts, commercial leadership, and strategic long-term vision. The report underscores the significant impact these leaders have on their respective brand's value and market position.

David Haigh, Chairman and CEO of Brand Finance, said:

"Akira Shimada of NTT Group and Piyush Gupta of DBS have been recognised for their exceptional tech readiness, driving their companies to the forefront of technological innovation. Similarly, sustainability champions like Bob Sternfels of McKinsey are setting new benchmarks in corporate environmental responsibility."

The study also emphasises the critical role of strong commercial leadership and strategic vision in enhancing brand value. Leaders like Denise Coates of Bet365 and Chris Leahy of CDW have demonstrated exemplary commercial acumen, significantly contributing to their brands' robust market positions and high valuations.

David Haigh, Chairman and CEO of Brand Finance, said:

"Our analysis clearly shows that the calibre of a brand's guardians – the CEOs and leadership teams – is a key determinant of its value. In today's rapidly evolving market landscape, the strategic decisions and leadership qualities of these individuals are more important than ever."

The Brand Guardianship Index is a testament to Brand Finance's commitment to providing in-depth, actionable insights into brand valuation and management.