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Brand Guardianship Index 2021 The annual report on the world’s top 100 CEOs February 2021 Contents.

About Brand Finance 4 Get in Touch 4 What Do We Mean by Brand Guardianship? 5 Brandirectory.com 6 Brand Finance Group 6 Brand Guardianship Index 8 Executive Summary 12 Methodology 20 Appendix 24 Our Services 28 Consulting Services 30 Brand Evaluation Services 31 Communications Services 32 Brand Finance Network 35

© 2021 All rights reserved. Brand Finance Plc.

Brand Finance Brand Guardianship Index February 2021 3 What Do We Mean by About Brand Finance. Brand Guardianship?

Brand Finance is the world's leading brand Chief Executives today need to do more than valuation consultancy. simply grow a business and make money for We bridge the gap between marketing and finance their investors. Brand Finance was set up in 1996 with the aim of 'bridging the gap between marketing and finance'. For 25 years, we have helped companies and organisations of all types to connect their brands to the bottom line. Good CEOs are those who nurture relations with all stakeholders, and enhance the reputation of We quantify the financial value of brands We put 5,000 of the world’s biggest brands to the test their brands as a result. Even investors every year. Ranking brands across all sectors and David Haigh increasingly care about corporate social countries, we publish nearly 100 reports annually. CEO, Brand Finance responsibility about environmental, social and We offer a unique combination of expertise governance issues. Our teams have experience across a wide range of disciplines from marketing and market research, to brand strategy and visual identity, to tax and accounting. The role of the CEO has evolved as we navigate We pride ourselves on technical credibility the era of personality CEOs where public Brand Finance is a chartered accountancy firm regulated by the Institute of Chartered Accountants in England and scrutiny can be equal to that of a celebrity figure. Wales, and the first brand valuation consultancy to join It is no longer enough to have a vision for the the International Valuation Standards Council. business’s future. It is about forging an authentic Our experts helped craft the internationally recognised public profile and reacting earnestly to standards on Brand Valuation – ISO 10668 and Brand Evaluation – ISO 20671. Our methodology has been reputational crises. Annie Brown certified by global independent auditors – Austrian Associate, Brand Finance Standards – as compliant with both, and received the official approval of the Marketing Accountability The Brand Guardianship Index represents the Standards Board. CEOs who balance the needs of commercial success, long-term brand building and personal Get in Touch. reputation management.

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4 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 5 Brandirectory.com

Brandirectory is the world’s largest database of current and historical brand values, providing easy access to all Brand Finance rankings, reports, whitepapers, and consumer research published since 2007. + Browse thousands of published brand values Global Brand + Track brand value, strength, and rating across publications and over time

+ Use interactive charts to compare brand values across countries, sectors, and global rankings Equity Monitor + Purchase and instantly unlock premium data, complete brand rankings, and research

Visit brandirectory.com to find out more. Original market research on 2,500 brands Brand Finance Group. 29 countries and 23 sectors covered Brand Finance Institute Brand Finance Institute is the educational division of More than 50,000 respondents surveyed annually Brand Finance, whose purpose is to create and foster a professional environment for knowledge-sharing and networking among practitioners and experts in the We are now in our 5th consecutive year conducting the study market. BFI organises events, in-company training, and corporate educational initiatives around the world. In the quest for marketing excellence and with the purpose to equip the brand valuation and strategy practitioners Visit brandirectory.com/consumer-research with the necessary skills and tools, we have developed a wide range of programmes and certifications in or email enquiries@brandfi nance.com collaboration with the most coveted business schools, universities and thought leaders in the field. Brand Dialogue Brand Dialogue is a public relations agency developing communications strategies to create dialogue that drives brand value. Brand Dialogue has over 25 years of experience in delivering campaigns driven by research, measurement, and strategic thinking for a variety of clients, with a strong background in geographic branding, including supporting nation brands and brands with a geographical indication (GI). Brand Dialogue manages communications activities across Brand Finance Group's companies and network. VI360 VI360 is a brand identity management consultancy working for clients of all sizes on brand compliance, brand transition, and brand identity management. VI360 provide straightforward and practical brand management that results in tangible benefits for your business.

6 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/[email protected] Brand Finance Brand Guardianship Index February 2021 7 Brand Guardianship Index. Where Does Rank Among the David Haigh CEO, Brand Finance World’s Top 100 CEOs?

+ Jeff Bezos ranks 2nd among world’s most famous CEOs but fame is not everything as no “celebrity CEOs” make top 10 brand guardians list

+ Mr. Bezos ranks 73rd among world’s top 100 brand guardians, scoring below average on 7 out of 10 characteristics

+ Mastercard’s Ajay Banga – champion of technological innovation and financial inclusion – is crowned best brand guardian

+ Only 8 of top 100 CEOs are female, with Tapestry’s Joanne Crevoiserat most reputable among all top 100 CEOs

+ Top 100 CEOs are on average 57 years old and paid US$20 million a year

10 Brand Finance Brand Guardianship Index February 2021 Brand Finance Brand Guardianship Index February 2021 11 Executive Summary.

Executive Summary.

Jeff Bezos ranks second among the world’s most Top 10 CEOs “showing an ethical approach”, “promoting diversity”, famous CEOs, behind Mark Zuckerberg and ahead of “being socially responsible”, and “an inspiration to Tim Cook and Elon Musk, according to new research 1 72.2 � k others”. In addition, the net sentiment of his media on the top 100 CEOs. coverage is negative, and he ranks low for staff Ajay Banga Mastercard approval, which drives his overall score down. Although the “celebrity CEOs” score highest for familiarity in the Brand Guardianship Index 2021, fame is not everything, as none of them rank among 2 72.1 � G Disassociating himself from the the world’s top 10 brand guardians. CEOs like Jeff Jensen Huang day-to-day management of Bezos have gained publicity due to the success and Nvidia widespread appeal of the brands they guard over, as Amazon might help repair Jeff well as their willingness to be in the public spotlight, Bezos’ personal brand, and as but a significant number of lesser-known global 3 69.6 � x CEOs score higher on other statements related to he focuses his attention on Reed Hastings reputation and governance that characterize great Netflix developing cutting-edge brand guardians. technologies beyond the 4 69.2 � D e-commerce domain, he can In 2019, Jeff Bezos ranked as Yong Zhang "Daniel" even elevate his global the #1 brand guardian. In 2021, Alibaba.com influence and channel it for a on the eve of his resignation � greater good. from the CEO role, he has fallen 5 68.9 u Rajesh Gopinathan nearly to the bottom of the TCS Annie Brown ranking. Between negative Associate, Brand Finance coverage of his divorce, 6 64.6 � – allegations regarding poor Mukesh Ambani Top 100 Brand Guardians Per Region treatment of workers, and Reliance criticism for his apparent 63.2 � G reluctance to use wealth for 7 Marc R. Benioff philanthropic goals, Mr. Bezos’ Salesforce Number of departure from direct Sector CEOs leadership might be the best 8 62.6 � f ● North America 48 course of action for Amazon. Takahiro Hachigo Honda ● East Asia 25 ● Europe 17 David Haigh CEO, Brand Finance 9 62.4 � x ● South & Southeast Asia 5 Huateng Ma "Pony" ● Middle East 5 In Brand Finance’s original market research among a Tencent (QQ) globally representative sample of 300 market analysts and business journalists, Mr. Bezos scores below average on 7 out of 10 statements measured. Although 10 61.3 � l his familiarity is very high, he gets some of the lowest Jean-Paul Agon marks for “understanding the importance of reputation”, L'Oréal © Brand Finance Plc 2021 © Brand Finance Plc 2021

12 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 13 Executive Summary. Executive Summary.

Brand Guardianship Index - CEO Age Brand Guardianship Index - CEO Compensation in Latest Financial Year (USDm) 16 300 12

250 8

200 Number of CEOs 4

0 150 40-50 50-60 60-70 70-80 80-90 Age 100 In Brand Finance’s ranking of the world’s top 100 brand with innovation in its DNA. A well-known philanthropist, CEO Compensation (USDm) guardians, Tim Cook ranks 14th, Mark Zuckerberg 42nd, Elon Mr. Huang has donated US$30 million to Stanford Musk 64th, and Jeff Bezos – who has just announced his University to establish and engineering center, and 50 resignation from his role as the CEO of Amazon – only 73rd. US$5 million towards cancer research labs in Oregon.

The leadership shift means that Jeff Bezos will still have authority The 3rd best brand guardian in 2021 is Reed Hastings of 0 over the direction of Amazon, but he will be relieved from the Netflix. In January, Netflix announced it has surpassed tasks of the CEO and direct management of the brand and the 200 million subscribers for the first time. Mr. Hastings has 0 20 40 60 80 100 company. Mr. Bezos intends to spend more time on climate openly shared that Netflix today was his vision from day one, BGI Rank change initiatives and developing his two other major business the DVDs were always a substitute for the future potential projects, namely, The Washington Post and Blue Origin, a space he knew the internet offered. Netflix’s working culture is exploration program to compete with Elon Musk’s SpaceX. famously open and non-hierarchical, guided by Mr. Hasting’s COVID-19 has presented ’no rules’ rules. Netflix continues to invest billions of dollars perhaps the greatest challenge Ajay Banga is top CEO in original content development, refreshing the international offering to subscribers. In the past 5 years, Netflix’s brand to all CEOs this year. Leaders This year’s best brand guardian among the world’s top 100 value has grown by an average of 40% per year and the have had to both protect the CEOs is Mastercard’s Ajay Banga. Mr. Banga announced platform has become a household brand across the world. his transition from CEO to executive chairman in 2020, financial interests of rounding off a successful and decorated 10 years as CEO. Profile of the top 100 shareholders and protect their Since taking the helm of Mastercard, Mr. Banga has embraced technological innovation, ensuring the brand remained relevant Only eight of the top 100 brand guardians are female, people from the very real threat despite a period of rapid change in financial services. Mr. due to a continued shortage of female leadership in major to health and life posed by the Banga also champions the idea of financial inclusion and has corporations across the globe. The female brand guardians leveraged his influence to build strategic partnerships with in the ranking include six from American companies and two pandemic. It has required financial institutions worldwide to help fight poverty. from Chinese companies. This is an improvement from only resolve and vision to safeguard four in 2020. Susan Patricia Griffith of Progressive is Close behind Mr. Banga is the 2nd highest ranked the highest-ranked female brand guardian, at 28th this year. - and in some cases grow - one brand guardian, Jensen Huang of Nvidia. In the Many of the CEOs in the ranking advocate for diversity and of these leaders’ most past 5 years, graphics- and chipmaker Nvidia has inclusion themselves, and through gradual progress and witnessed rapid brand value growth due to Mr. Huang’s continued female leadership we hope to see more female important assets, their leadership, as well as the recent acquisition of ARM brand leaders in the future. company’s brand. which is expected to deliver huge synergies and further momentum to Nvidia’s AI capability growth. Mr. Huang 48 of the top 100 brand guardians are CEOs of US David Haigh established Nvidia in 1993 and has since built a brand companies, 25 are from East Asia and 17 from Europe. CEO, Brand Finance

14 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 15 Executive Summary. Executive Summary.

The #MeToo movement gained The highest-ranking brand guardian of a non-American brand guardians are leaders of national oil companies: traction in 2017, in an overdue tidal company is Alibaba’s Yong Zhang (Daniel Zhang). ADNOC (13th), (23rd), and Petronas (38th). wave of recognition for the The average age of the brand guardians in the top In a sector that has historically suffered from the staggering evidence of sexual 100 is 57 - it is most common to be a brand guardian reputational impacts of the financial crisis, effective between the ages of 50-60. brand management from the top is crucial for harassment faced by women in the banks. Citi’s Mike Corbat is the highest-ranking workplace. This movement may The top brand guardians have invested years of their life in brand guardian in the banking industry (20th). the brands; 81% of the Brand Guardianship Index top 100 have begun to make reparations were either appointed from within or are founder-CEOs. The leading global brand guardian in the telecoms and bring awareness to the issues, industry is Nasser Sulaiman Al Nasser of stc, ranked They are duly compensated; the average brand guardian 41st overall. Mr Nasser became CEO of stc in 2018 but evidently equality is a long way compensation in the latest fiscal year was US$20 million. and during his tenure, stc has undertaken a profound away. Whether it be conscious or This is based on disclosed information for 72 of the 100. evolution into a leader for digital transformation. Under The total compensation to those 72 brand guardians was Mr Nasser, stc is pioneering 5G development for the unconscious bias that results in a over US$1.4 billion. Sundar Pichai of Google received Middle East and diversifying the Saudi economy in line distinct lack of female leadership, the highest compensation – a total of US$281 million. with the Saudi Vision 2030. work is clearly needed. The 8% The most reputable CEOs Following a successful tenure in which stc brand value representation of women in the and strength have consistently grown, Mr Nasser will Joanne Crevoiserat is one of only eight female CEOs that depart stc in March. Following his departure, stc will Brand Guardianship Index 100 make the top 100 list of brand guardians. She is also the most continue to benefit from Mr Nasser’s vision and hand in reflects the total sample which reputable CEO in the top 100, according to a global sample the successful 2020 rebrand. of equity analysts and journalists. Ms. Crevoiserat took the also was 8% female. Women are reins of Tapestry (formerly Coach) last year, having previously equally capable of being served as company CFO and interim CEO of Kate Spade. Reputation Familiarity Prior to Tapestry, her experience spanned many big-brand exceptional leaders and it is about retailers in the US, including Abercrombie & Fitch and Kohls. time that boardrooms reflect that. 1 Joanne Crevoiserat, Tapestry 1 Mark Zuckerberg, Facebook Sector leaders Sheikh Ahmed bin Saeed Al Maktoum, Annie Brown 2 2 Jeff Bezos, Amazon Emirates Associate, Brand Finance 2020 added new challenges to oil company chief executives facing uncertainty in the market with COVID-19, 3 Julie Spellman Sweet, accenture 3 Tim Cook, Apple oil price fluctuation and energy transition pressures all landing on their desks. Strong and inspiring leadership is integral to company reputation and staff morale. H.E. Dr. 4 Rajesh Gopinathan, TCS 4 Elon Musk, Tesla Sultan Al Jaber of ADNOC is the highest-ranked oil & gas CEO in the BGI in 2021, and places 13th overall. 5 Mukesh Ambani, Reliance 5 Mukesh Ambani, Reliance ADNOC’s transformation since 2016 has taken the brand from strength to strength. Under the astute leadership of 6 Nasser Sulaiman Al Nasser, stc 6 Jun Lei, Xiaomi H.E. Dr. Sultan, ADNOC has evolved into a trusted global player with one brand and one strategic vision at its core. 7 Jun Lei, Xiaomi 7 Amin Nasser, Saudi Aramco It has attracted some of the world’s leading institutional investors as partners across its business and has raised more than US$64 billion through such transactions since 8 Volkmar Denner, Bosch 8 Reed Hastings, Netflix the start of its transformation. 9 Yong Zhang "Daniel", Alibaba Group 9 James R. Quincey, Coca-Cola At a time where chief executives of European integrated oil companies are under pressure to evolve to net zero while 10 Punit Renjen, Deloitte 10 Jim Farley, Ford still delivering a financial return, all three of the oil & gas

16 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 17 Brand Guardianship Index 2021.

Brand Guardianship Index 2021.

Top 100 CEOs 1-50 Top 100 CEOs 51-100

2021 Company Country 2021 BGI 2021 Company Country 2021 BGI Rank CEO Company Sector of Incorp Score Rank CEO Company Sector of Incorp Score 1 Ajay Banga* Mastercard Commercial Services United States 77.3 51 Kim Ki-Nam Samsung Tech South Korea 61.5 2 Jensen Huang Nvidia Tech United States 77.2 52 Michael S. Dell Dell Tech United States 61.2 3 Reed Hastings Netflix Media United States 75.8 53 Jiayin Xu Evergrande Real Estate Services China 61.0 4 Yong Zhang "Daniel" Alibaba Group Retail China 74.1 54 Alex Gorsky Johnson & Johnson Pharma United States 60.9 5 Rajesh Gopinathan TCS IT Services India 74.0 55 Alfred Kelly VISA Commercial Services United States 60.5 6 Mukesh Ambani Reliance Multiple India 73.9 56 Ruimin Zhang Haier Electronics China 60.4 7 Marc R. Benioff Salesforce Tech United States 73.5 57 Jeremy Darroch* Sky Telecoms United Kingdom 60.3 8 Takahiro Hachigo Honda Auto Japan 72.6 58 Alain Wertheimer Chanel Apparel France 60.1 9 Huateng Ma "Pony" Tencent (QQ) Media China 72.4 59 Shuguang Li Wuliangye Spirits China 60.0 10 Jean-Paul Agon** L'Oréal Cosmetics & Personal Care France 72.0 60 Bernard Arnault LVMH Apparel France 59.3 11 Akio Toyoda Toyota Auto Japan 71.9 61 Axel Dumas Hermès Apparel France 59.0 12 Punit Renjen Deloitte Commercial Services United States 70.3 62 Yanhong Li "Robin" Baidu Tech China 59.0 13 Dr. Sultan Ahmed Al Jaber ADNOC Oil & Gas UAE 70.1 63 David M. Cordani Cigna Healthcare Services United States 58.9 14 Tim Cook Apple Tech United States 70.1 64 Elon Musk Tesla Auto United States 58.7 15 Sheikh Ahmed bin Saeed Al Maktoum Emirates Airlines UAE 68.8 65 Brian T. Moynihan Bank of America Banking United States 58.7 16 Volkmar Denner Bosch Engineering & Construction Germany 68.7 66 Hiroshi Mikitani Rakuten Retail Japan 58.7 17 Salil Parekh Infosys IT Services India 68.1 67 Warren Buffett Berkshire Hathaway Multiple United States 58.4 18 Bruce D. Broussard Humana Healthcare Services United States 67.7 68 Oliver Zipse BMW Auto Germany 58.3 19 Jim Farley Ford Auto United States 67.1 69 Chuck Robbins Cisco Tech United States 58.1 20 Mike Corbat** Citi Banking United States 67.0 70 Herman Gref Sber Banking Russia 58.0 21 Hongbo Fang "Paul" Midea Tech China 66.8 71 Qingping Li China CITIC Bank Banking China 57.8 22 Satya Nadella Microsoft Tech United States 66.7 72 James Patrick Gorman Morgan Stanley Banking United States 57.8 23 Amin Nasser Saudi Aramco Oil & Gas 66.6 73 Jeff Bezos* Amazon Retail United States 57.8 24 James R. Quincey Coca-Cola Non Alcoholic Drinks United States 66.6 74 Ramon L. Laguarta Pepsi Non Alcoholic Drinks United States 57.7 25 Dave Mckay RBC Banking Canada 66.4 75 Phebe Novakovic General Dynamics Aerospace & Defence United States 57.5 26 Gang Pan Yili Food China 66.4 76 Piyush Gupta DBS Banking Singapore 57.2 27 Mingze Ma Ping An Insurance China 65.4 77 Tadashi Yanai Fast Retailing Apparel Japan 57.2 28 Susan Patricia Griffith Progressive Insurance United States 65.3 78 Sundar Pichai Google Tech United States 57.0 29 Fred Smith FedEx Logistics United States 65.2 79 Jean-Bernard Levy EDF Utilities France 56.8 30 David S. Taylor Procter & Gamble Cosmetics & Personal Care United States 65.2 80 Bob Swan** Intel Tech United States 56.5 31 Lee Won-Hee* Hyundai Auto South Korea 64.9 81 Xing Wang Meituan Tech China 56.3 32 Julie Spellman Sweet accenture IT Services United States 64.9 82 Kevin R. Johnson Starbucks Restaurants United States 56.3 33 Bharat B Masrani TD Banking Canada 64.7 83 Hatem Dowidar Etisalat Telecoms UAE 56.2 34 Marvin Ralph Ellison Lowe's Retail United States 64.7 84 Qiangdong Liu "Richard" JD.com Retail China 56.0 35 Kevin Sneader McKinsey Commercial Services United States 64.0 85 W. Craig Jelinek Costco Retail United States 55.9 36 Gregory Hayes Raytheon Technologies Aerospace & Defence United States 64.0 86 Brian J. Porter Scotiabank Banking Canada 55.7 37 John J. Donahoe II Nike Apparel United States 63.9 87 Craig A. Menear Home Depot Retail United States 55.7 38 Tengku Muhammad Taufik Petronas Oil & Gas Malaysia 63.7 88 Jamie Dimon JP Morgan Chase & Co Banking Japan 55.6 39 Zhengfei Ren Huawei Tech China 63.6 89 Christopher J. Nassetta Hilton Hotels & Resorts Hotels United States 55.6 40 Martin Lundstedt Volvo Auto Sweden 63.6 90 Douglas Peterson S&P Global Commercial Services United States 55.5 41 Nasser Sulaiman Al Nasser** stc Telecoms Saudi Arabia 63.5 91 Carol B. Tome UPS Logistics United States 55.5 42 Mark Zuckerberg Facebook Media United States 63.2 92 Christian Klein SAP Tech Germany 55.4 43 Jun Lei Xiaomi Tech China 63.1 93 Onur Genç BBVA Banking 55.3 44 Joanne Crevoiserat Tapestry Apparel United States 62.6 94 Jie Yang China Mobile Telecoms China 55.2 45 Carlo Messina Intesa Sanpaolo Banking 62.4 95 Kenichiro Yoshida Sony Tech Japan 55.2 46 Joe Kaeser** Siemens Engineering & Construction Germany 62.3 96 Corie Barry Best Buy Retail United States 55.1 47 Fabrizio Freda Estée Lauder Cosmetics & Personal Care United States 62.3 97 David M. Solomon Goldman Sachs Banking United States 55.1 48 Dietrich Mateschitz Red Bull Non Alcoholic Drinks Austria 61.9 98 Lei Ding "William" NetEase Media China 55.1 49 Mingzhu Dong Gree Tech China 61.8 99 José Ignacio Sánchez Galán Iberdrola Utilities Spain 55.0 50 Brian C. Cornell Target Retail United States 61.7 100 François-Henri Pinault Kering Apparel France 54.9 *Announced resignation as CEO in 2021 but remaining on board **Announced resignation from the company in 2021

18 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 19 Methodology. Methodology.

Methodology.

Just like the Brand Strength Index, the Brand These pillars are informed by various sub-measures- Market analyst and journal sample analysts and journalists- two stakeholder groups who Guardianship Index is comprised of three pillars, weighting reflected by slice size. have informed and influential views on chief executives’ Investment, Equity and Performance. For the 2021 Brand Guardianship Index, Brand Finance reputation. Fieldwork was conducted in December 2020. commissioned a survey among a panel of market

A Global view: respondent country of residence Economy CEO ● United States Tenure ● UK (Years) Overall Reputation Understands ● China the importance of investing ● India in marketing ● Spain ● Italy Has a strategystrong and long Investment ● Germany term vision ● France Governance Saudi Arabia Net Score ● Positive ● UAE Online Coverage Balanced between analysts and journalists: respondent current occupation Equity Average Dividends per Share Approval % ● Business/Market Analyst Market Cap ● Journalist (Text.Video) Growth

Performance

Understands the importance of brand and Average Brand reputationorganisation for the A sample of experienced professionals: respondent time in profession Value Growth

Recognised as Average BSI Familiarity a global CEO ● 2.1 to 5 years ● 5.1 to 10 years ● More than 10 years

22 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 23 Appendix. Appendix.

We researched and evaluated the brand guardianship score of 246 CEOs this year.

7-Eleven American Express BNP Paribas Cisco Deustche Post DHL Group Facebook Heineken Intel Ryuichi Isaka Stephen Squeri Jean-Laurent Bonnafe Chuck Robbins Frank Appel Mark Zuckerberg Dolf Van Den Brink Bob Swan

AB InBev Anthem Boeing Citi Deutsche Telekom Fast Retailing Hermès Intesa Sanpaolo Carlos Alves De Brito Gail Koziara Boudreaux Dave Calhoun Mike Corbat Tim Hoettges Tadashi Yanai Axel Dumas Carlo Messina accenture Apple Bosch Coca-Cola Diageo FedEx Hilton Hotels & Resorts JD.com Julie Spellman Sweet Tim Cook Volkmar Denner James R. Quincey Ivan M Menezes Fred Smith Christopher J. Nassetta Qiangdong Liu "Richard"

Adidas Asahi BP Comcast Disney Fiat Hitachi Johnson & Johnson Kasper Rørsted Akiyoshi Koji Bernard Looney Brian Roberts Bob Chapek Mike Manley Toshiaki Higashihara Alex Gorsky

ADNOC AstraZeneca British American Tobacco Compagnie Financière Richemont DP World Ford Home Depot Jp Morgan Chase & Co Dr. Sultan Ahmed Al Jaber Pascal Soriot Jack Marie Henry David Bowles Jérôme Lambert Sultan Ahmed bin Sulayem Jim Farley Craig A. Menear Jamie Dimon

Agricultural Bank of China AT&T CaixaBank Costco eBay Fox Honda KDDI Mubing Zhou John T. Stankey Gonzalo Gortázar Rotaeche W. Craig Jelinek Jamie Iannone Lachlan Keith Murdoch Takahiro Hachigo Makoto Takahashi

AIA Aviva Capital One Country Garden EDF Fresenius HSBC Kering Lee Yuan Siong Amanda Blanc Richard Dana Fairbank Guoqiang Yang Jean-Bernard Levy Stephan Sturm Noel Quinn François-Henri Pinault

Airbnb Axa Carrefour CPIC El Corte Inglés General Dynamics Huawei Kimberly-Clark Brian Chesky Thomas Buberl Alexandre Bompard Qingwei Kong Víctor del Pozo Phebe Novakovic Zhengfei Ren Mike Hsu

Airbus Baidu Cepsa CRCC Emirates General Electric Humana Kirin Guillaume Faury Yanhong Li "Robin" Philippe Boisseau Jianping Wang Sheikh Ahmed bin Saeed Al Maktoum Larry Culp Bruce D. Broussard Yoshinori Isozaki

Aldi Bank of America Chanel CRECG Enel General Motors Hyundai KPMG Marc Heußinger Brian T. Moynihan Alain Wertheimer Yun Chen Francesco Starace Mary Barra Lee Won-Hee Bill Thomas

Alibaba.com Bank of China Chevron CSCEC Eni Goldman Sachs Iberdrola Kroger Yong Zhang "Daniel" Liange Liu Mike Wirth Naixiang Zhou Claudio Descalzi David M. Solomon José Ignacio Sánchez Galán W Rodney Mcmullen

Allianz Bank of Communications China CITIC Bank CVS Enterprise Google IBM Lockheed Martin Oliver Baete Deqi Ren Qingping Li Larry J. Merlo Chrissy Taylor Sundar Pichai Arvind Krishna James Taiclet

Ally Barclays China Construction Bank Daimler Estée Lauder Gree ICBC L'Oréal Jeffrey Brown Jes Staley Guoli Tian Ola Källenius Fabrizio Freda Mingzhu Dong Siqing Chen Jean-Paul Agon

Altria BBVA China Life Danone Etisalat Groupe PSA IKEA Lowe's Billy Gifford Onur Genç Bin Wang Emmanuel Faber Hatem Dowidar Carlos Tavares Jesper Brodin Marvin Ralph Ellison

Amazon Berkshire Hathaway China Mobile DBS Evergrande GSK Inditex LVMH Jeff Bezos Warren Buffett Jie Yang Piyush Gupta Jiayin Xu Emma Walmsley Carlos Crespo Gonzalez Bernard Arnault

AMD Best Buy China Telecom Dell ExxonMobil H&M Infosys Marriott Lisa Su Corie Barry Ruiwen Ke Michael S. Dell Darren Woods Helena Helmersson Salil Parekh Arne M. Sorenson

America Movil BMW Cigna Deloitte EY Haier ING Mars Daniel Oliver Zipse David M. Cordani Punit Renjen Carmine Di Sibio Ruimin Zhang Steven Van Rijswijk Grant Reid

24 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 25 Appendix. Appendix.

Mastercard Nokia Postal Savings Bank SABIC SoftBank Telefonica Unilever Volvo Ajay Banga Pekka Lundmark Jinliang Zhang Yousef Al-Benyan Masayoshi Son José María Álvarez-Pallete López Alan Jope Martin Lundstedt

McDonald's Northrop Grumman Poste Italiane SAIC Motor Sony Telia UNIQA Walmart Chris Kempczinski Kathy Warden Matteo Del Fante Hong Chen Kenichiro Yoshida Allison Kirkby Andreas Brandstetter Doug Mcmillon

McKinsey NTT Power China Salesforce Spectrum Tencent (QQ) UnitedHealthcare WBA Kevin Sneader Jun Sawada Zhiyong Yan Marc R. Benioff Tom Rutledge Huateng Ma "Pony" Dave Wichmann Stefano Pessina

Meituan NTT Docomo Priceline Group Samsung Starbucks Tenet Healthcare UPS Wells Fargo Xing Wang Motoyuki Ii Glenn Fogel Kim Ki-Nam Kevin R. Johnson Ronald Rittenmeyer Carol B. Tome Charlie Scharf

Mercadona Nvidia Procter & Gamble Santander stc Tesla Vanke Woolworths Juan Roig Alfonso Jensen Huang David S. Taylor Jose Antonio Alvarez Nasser Sulaiman Al Nasser Elon Musk Jiusheng Zhu Brad Banducci

Microsoft Oracle Progressive SAP Sunac Tjx Companies Vegas Sands Wuliangye Satya Nadella Safra A. Catz Susan Patricia Griffith Christian Klein Hongbin Sun Ernie Herrman Sheldon Adelson Shuguang Li

Midea Orange PWC Saudi Aramco Tapestry Total Verizon Xiaomi Hongbo Fang "Paul" Stephane Richard Bob Moritz Amin Nasser Joanne Crevoiserat Patrick Pouyanné Hans E. Vestberg Jun Lei

Mitsubishi Panasonic Airways Sber Target Toyota Viacom Yili Takehiko Kakiuchi Kazuhiro Tsuga Akbar Al Baker Herman Gref Brian C. Cornell Akio Toyoda Robert M. Bakish Gang Pan

Moderna PayPal QNB Schlumberger Tata Motors Tyson VISA Yum! Brands Stephane Bancel Daniel Schulman Abdulla Mubarak Al-Khalifa Olivier Le Peuch Guenter Butschek Dean Banks Alfred Kelly David W. Gibbs

Morgan Stanley Pepsi Rakuten Schwarz Gruppe TCS Vodafone James Patrick Gorman Ramon L. Laguarta Hiroshi Mikitani Klaus Gehrig Rajesh Gopinathan Dara Khosrowshahi Nick Read

MUFG PetroChina Raytheon Technologies Scotiabank TD UBS Volkswagen Hironori Kamezawa Houliang Dai Gregory Hayes Brian J. Porter Bharat B Masrani Ralph Hamers Herbert Diess

NatWest Petronas RBC Shanghai Pudong Development Bank Alsion Rose Tengku Muhammad Taufik Dave Mckay Yang Zheng

Nestle Pfizer Red Bull Shell Ulf Mark Schneider Albert Bourla Dietrich Mateschitz Ben Van Beurden NetEase Philip Morris International Reliance Siemens Get in touch to find out more Lei Ding "William" Andre Calantzopoulos Mukesh Ambani Joe Kaeser about your CEO's results. Netflix Ping An Renault Sinopec Reed Hastings Mingze Ma Luca De Meo Yuzhuo Zhang [email protected]

Nike Poly Development & Holdings Ross Dress For Less Sky John J. Donahoe II Guangju Song Barabara Rentler Jeremy Darroch

Nissan Porsche S&P Global SMBC Group Makoto Uchida Hans Dieter Pötsch Douglas Peterson Jun Ohta

26 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 27 Our Services. Consulting Services. Brand Evaluation Services.

Make branding decisions using hard data How are brands perceived in my category? + Brand Audits Brand Research + Primary Research What gets measured Brand Finance tracks brand fame and perceptions + Syndicated Studies across 30 markets in 10 consumer categories. Clear, + Brand Scorecards insightful signals of brand performance, with data Brand evaluations are essential for + Brand Drivers & Conjoint Analysis mining options for those who want to dig deeper – all at understanding the strength of your + Soft Power brand against your competitors. an accessible price. Brand Strength is a key indicator of future brand value growth whether + Are we building our brands’ strength effectively? What if I need more depth identifying the drivers of value or + How do I track and develop my brand equity? or coverage of a more avoiding the areas of weakness, + How strong are my competitors’ brands? specialised sector? + Are there any holes in my existing brand tracker? measuring your brand is the only + What do different stakeholders think of my brand? way to manage it effectively. Our bespoke brand scorecards help with market planning and can be designed to track multiple brands over time, against competitors, between market segments and against budgets. Our 30-country + Brand Impact Analysis database of brand KPIs enables us to benchmark Brand Valuation + Tax & Transfer Pricing performance appropriately. Make your brand's business + Litigation Support case + M&A Due Diligence Do I have the right brand + Fair Value Exercises architecture or strategy in place? Brand valuations are used for a + Investor Reporting variety of purposes, including tax, Research is conducted in addition to strategic finance, and marketing. Being the + How much is my brand worth? analysis to provide a robust understanding interpreter between the language of + How much should I invest in marketing? of the current positioning. The effectiveness marketers and finance teams they + How much damage does brand misuse cause? of alternative architectures is tested provide structure for both to work + Am I tax compliant with the latest transfer pricing? through drivers analysis, to determine which option(s) + How do I unlock value in a brand acquisition? together to maximise returns. will stimulate the most favourable customer behaviour and financial results. How can I improve return + Brand Positioning on marketing investment? + Brand Architecture + Franchising & Licensing Using sophisticated analytics, we have a proven track Brand Strategy + Brand Transition record of developing comprehensive brand scorecard Make branding decisions + Marketing Mix Modelling and brand investment frameworks to improve return on with your eyes wide open + Sponsorship Strategy marketing investment.

Once you understand the value of What about the social dimension? your brand, you can use it as tool + Which brand positioning do customers value most? Does my brand get talked about? to understand the business impacts + What are our best brand extension opportunities of strategic branding decisions in in other categories and markets? Social interactions have a proven commercial impact terms of real financial returns. + Am I licensing my brand effectively? on brands. We measure actual brand conversation and + Have I fully optimised my brand portfolio? advocacy, both real-world word of mouth and online Am I carrying dead weight? buzz and sentiment, by combining traditional survey + Should I transfer my brand immediately? + Is a Masterbrand strategy the right choice for my business? measures with best-in-class social listening.

30 Brand Finance Brand Guardianship Index February 2021 brandfinance.com brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 31 Communications Services.

How we can help communicate your brand’s performance in brand value rankings

Brand Accolade – create a digital endorsement stamp for use in marketing With strategic planning and creative thinking, we develop communications plans to create dialogue with stakeholders that drives brand value. materials, communications, annual reports, social media and website. Advertising use subject to terms and conditions. Our approach is integrated, employing tailored solutions for our clients across PR, marketing and social media, to deliver strategic campaigns and helping us to establish and sustain strong client relationships.

We also have a specific focus on geographic branding, including supporting nation brands and brands with a geographical indication (GI).

Brand Dialogue is a member of the Brand Finance plc group of companies

TOP 100 TOP 100 MOST TOP 100 MOST BRAND FAMOUS REPUTABLE GUARDIAN CEO CEO

Video Endorsement – record video with Brand Finance CEO or Director Research, Strategy Public Relations Marketing Content Strategic & Measurement & Communications & Events Creation Communications speaking about the performance of your brand, for use in both internal Brand & Media Relations Promotional Events Bespoke Publications Crisis and external communications. Communications Communications Strategy Press Trips & Events Conference Press Releases Management Brand Positioning & Campaign Planning Strategic Partnerships Blog Posts & Reputation Bespoke Events – organise an award ceremony or celebratory event, Sponsorship Newsletters Communications Relationship Management Geographic Branding coordinate event opportunities and spearhead communications to make Workshops Management Marketing Collateral Native Advertising Design Corporate Social the most of them. Market Research & Influencer Outreach Responsibility (CSR) Insights Print Advertising Photography & Media Training Videography Coverage Analysis Shopper Marketing Social Media Social Media Content Digital Infographics – design infographics visualising your brand’s Social Media Management Trade Marketing performance for use across social media platforms. Analytics

Trophies & Certificates – provide a trophy and/or hand-written certificate personally signed by Brand Finance CEO to recognise your brand’s performance.

Sponsored Content – publish contributed articles, advertorials, and interviews with your brand leader in the relevant Brand Finance report offered to the press.

Media Support – provide editorial support in reviewing or copywriting your press release, pitching your content to top journalists, and monitoring For more information, contact [email protected] or visit www.brand-dialogue.com media coverage.

32 Brand Finance Brand Guardianship Index February 2021 brandfinance.com Brand Finance Network.

For further information on our services and valuation experience, please contact your local representative:

Market Contact Email Telephone Africa Jeremy Sampson j.sampson@brandfi nance.com +27 82 885 7300 Asia Pacifi c Samir Dixit s.dixit@brandfi nance.com +65 906 98 651 Australia Mark Crowe m.crowe@brandfi nance.com +61 280 765 791 Brazil Eduardo Chaves e.chaves@brandfi nance.com +55 16 9 9161 7075 Canada Charles Scarlett-Smith c.scarlett-smith@brandfi nance.com +1 514 991 5101 China Scott Chen s.chen@brandfi nance.com +86 186 0118 8821 East Africa Walter Serem w.serem@brandfi nance.com +254 733 444 869 Brand Finance Institute France Bertrand Chovet b.chovet@brandfi nance.com +33 6 86 63 46 44 Germany Ulf-Brün Drechsel u.drechsel@brandfi nance.com +49 171 690 6828 Learn how to build, protect and measure brand value India Ajimon Francis a.francis@brandfi nance.com +91 989 208 5951 Indonesia Jimmy Halim j.halim@brandfi nance.com +62 215 3678 064 The Brand Finance Institute is the educational division of Brand Finance, offering expert training on Italy Massimo Pizzo m.pizzo@brandfi nance.com +39 02 303 125 105 brand evaluation, management and strategy. Mexico & LatAm Laurence Newell l.newell@brandfi nance.com +52 55 9197 1925 Middle East Andrew Campbell a.campbell@brandfi nance.com +971 508 113 341 Our in-house training and workshops, online learning offer and webinars will help you answer key strategic questions about your brand for different levels of seniority and development needs: Nigeria Tunde Odumeru t.odumeru@brandfi nance.com +234 012 911 988 Romania Mihai Bogdan m.bogdan@brandfi nance.com +40 728 702 705 • How can I grow brand value? Spain Teresa de Lemus t.delemus@brandfi nance.com +34 654 481 043 • How can I build a business case to show the return on my marketing investment? Sri Lanka Ruchi Gunewardene r.gunewardene@brandfi nance.com +94 11 770 9991 Turkey Muhterem Ilgüner m.ilguner@brandfi nance.com +90 216 352 67 29 • How can I set up my marketing budget using brand research and analytics? UK Richard Haigh rd.haigh@brandfi nance.com +44 207 389 9400 USA Laurence Newell l.newell@brandfi nance.com +1 214 803 3424 Vietnam Lai Tien Manh m.lai@brandfi nance.com +84 90 259 82 28 For more information, contact [email protected]

Brand Finance Institute is a member of the Brand Finance plc group of companies

brandirectory.com/global Brand Finance Brand Guardianship Index February 2021 35 Contact us.

The World’s Leading Brand Valuation Consultancy T: +44 (0)20 7389 9400 E: [email protected] www.brandfinance.com