SABIC names Al-Jarbou chairman, Al-Benyan vice chairman

18 Apr '19

2 min read

SABIC global headquarters in Riyadh, Saudi Arabia. Pic: SABIC

SABIC’s Board of Directors has named Dr. Abdulaziz Al-Jarbou as chairman and Yousef Al-Benyan as vice chairman and CEO of the company till April 2022. Riyadh, Saudi Arabia-headquartered company is the third largest diversified chemical company in the world with its products reaching more than 100 countries and operations in around 50 countries.

Al-Jarbou said he would greatly benefit from the expertise in various areas available in the company. He hoped to build on the successes achieved by the national symbol of excellence to ensure its continued growth and development, according to a SABIC press release.

Welcoming the decision to rename him as the vice chairman and CEO, Al-Benyan reiterated that he would work together with all stakeholders to take SABIC to even greater heights among global companies.

He stressed that SABIC would continue to play a key national role by supporting various economic sectors through various initiatives, including promoting local content, advancing innovation, and supporting technology transfer to the Kingdom to achieve the objectives of Saudi Vision 2030.

SABIC has played a key role in the petrochemical industry and has maintained its leadership in the sector. It has the highest independent credit rating as per the world’s top three credit rating agencies, and has been placed among the top three global chemical companies. The company’s assets reached $85 billion by the end of 2018 and a market value of $93 billion. Its annual sales touched $45 billion and net income $5.7 billion. It had a share of 34.5 per cent in Saudi Arabia’s non-oil sector. (RKS)

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