Saudi-based Sadara Chemical Company has appointed Dr Faisal Al Faqeer, a senior executive of Saudi Arabian Oil Company (Saudi Aramco) as its new chief executive officer.
Sadara is a joint venture between Saudi Aramco and The Dow Chemical Company. Sadara is a multi-billion dollar world-scale chemical complex in Jubail Industrial City II in Saudi Arabia’s Eastern Province.
The company had recently announced commercial operations at its multi-billion dollar world-scale chemical complex in Jubail Industrial City II in the Eastern Province of Saudi Arabia.
Consistent with this appointment, Dr Al Faqeer has subsequently resigned from Sadara’s board of directors.
Dr Al-Faqeer brings with him years of experience in the oil and gas industry, having led different functions within Saudi Aramco including engineering consulting services, research and development, and refining, said the company in a statement.
Most recently, he was nominated to the Sadara board of directors as a member in January 2017 and acted as the general manager for Saudi Aramco’s Ras Tanura Refinery, the largest refinery in the Middle East, it added.
On his new role, Dr Al Faqeer said: "I am excited by this opportunity to lead Sadara as the company enters into the full operations phase."
"The Sadara family has built a solid foundation and gained impressive momentum during its commissioning and start-up phase, and I eagerly look forward to joining the team and leading the company forward to become a global player in the chemical industry," he added.
Dr Al Faqeer replaces Ziad Al Labban who joined Sadara in October 2012 and was responsible for building the company including its physical assets, organization, processes and procedures and then bringing those assets on stream.
During the last five years these objectives have been met and Sadara is commercially operational, said the company statement.
The CEO transition was planned and Ziad will assume new responsibilities with Saudi Aramco, it added.
Welcoming the appointment, Ahmad Al Saadi, the chairman of the company board said: "Sadara is beginning an exciting new chapter, and Dr Al Faqeer was appointed to help guide the company through this new reality. He is an accomplished leader with strong business insights and a passion for what we are trying to accomplish in Sadara."
"We are lucky to have someone of his calibre to lead Sadara as the Company continues to grow and evolve," he added.