Jon Fredrik Baksaas, President and Chief Executive Officer (CEO) of Telenor Group, has been named one of the best-performing CEOs in the world by the Harvard Business Review.

The annual list of 100 CEOs is developed based on an assessment of the long-term results delivered by corporate leaders, specifically looking at the increase in total shareholder return and market capitalization, said a Telenor Group press release received here today.

Bangladeshi cellular phone operator Grameenphone is the venture of Telenor Group having business operations in 13 countries. Grameenphone is now serving 5 crore subscribers in Bangladesh.

Baksaas is one of only two CEOs from the telecoms industry and was named 32nd on the list for a market capitalization change during his tenure of US$ 36 billion.

These results have been achieved through the diverse portfolio of established markets in Europe and growth markets in Asia. Baksaas has been in his role as CEO since 2002.