SABIC CEO resigns after being named KSA education minister

Saudi Basic Industries Corp’s (SABIC) chief executive officer and industry veteran Yousef Al-benyan has been appointed as Saudi Arabia’s education minister.

SABIC’S board of directors has resolved to appoint Abdulrahman Saleh Al-fageeh as acting CEO of SABIC for six months, effective 28 September, according to a stock market filing. SABIC’S board also extended its sincere thanks and appreciation to Albenyan for his remarkable efforts which enabled the company to grow to be a global leader in the petrochemicals industry, it said.

Al-fageeh moves from his position as the executive vice president of petrochemicals, which he took on in 2016 after a 35-year career at SABIC, beginning as a project engineer.

Al-benyan had been working as the vicechairman and CEO of SABIC, the world’s largest petrochemicals manufacturer, since 2015. Al-benyan has worked in several positions affiliated with SABIC and its various subsidiaries. He has also held the position of general manager of textile intermediaries in the head office of SABIC in Riyadh, then general manager of the American SABIC Company in Houston, the US for two consecutive years, and then general manager of SABIC Asia Pacific Company.

He then held the position of executive vice president of chemicals, and the position of executive president of human resources at SABIC, after which he served as executive vice president for financial affairs.

Al-benyan holds advanced degrees in economics and industrial and economic management.