According to earlier research, executives with a variety of traits make better decisions, which improve the company’s performance. Pressure groups and authorities alike are pushing for workforce localization in several nations as a way to employ more people from the indigenous population. The Sultanate of Oman also promotes the Omanization process, which encourages businesses to use locals for employment-related matters. The performance of the company is impacted both immediately and over the long term by the strategic and crucial decisions made by the leadership of the company. Individuals with a variety of qualities contribute knowledge and experience that are beneficial. In this study, we seek to experimentally explore the effects that CEOs of other nationalities have on the operations of businesses in the Omani setting. Additionally, we observe the relationship stated above being moderated by the presence of women. We used information from nonfinancial companies listed in the Muscat Securities Market (MSM) between 2010 and 2020 to perform this study. For this investigation, we used the panel data OLS and fixed effect regression methods. According to the study’s findings, businesses led by CEOs of different nationalities underperform. The strain of job security may have altered the individuals’ performance and decision-making, which is one of the likely causes of this connection. Additionally, the findings indicate that having women on the board has a good impact on the relationship in question. We draw the conclusion that psychological pressure on people may have a negative effect on their capacity for making decisions. Future regulations and educational policies will be affected by this study; improved regulations are essential to generating better results from a diverse range of people.