Saudi Basic Industries Corporation (SABIC) has announced the resignation of Yousef Abdullah Al Benyan from his position as the Company’s CEO.
Al Benyan’s resignation came into effect on 28 September, as he was named the Minister of Education, according to a recent bourse disclosure.
Meanwhile, the Saudi listed firm appointed Abdulrahman bin Saleh Al Fageeh as the Acting CEO for the next six months. The new official assumed his role on 28 September 2022.
Al Fageeh holds a Bachelor’s degree in Chemical Engineering from King Saud University and a Master of Business Administration (MBA) from Bradford University in the UK.
During the first half (H1) of 2022, SABIC posted a 15.11% growth in net profit after Zakat and tax to SAR 14.40 billion, compared to SAR 12.51 billion in H1-21.