Saudi Basic Industries Corporation (Sabic), a leading petrochemicals conglomerate, in a major revamp has appointed Dr Abdulaziz bin Saleh bin Mansour Al Jarboo as its new chairman replacing Prince Saud bin Abdullah Bin Thenayan Al-Saud.
As part of the top management-level changes, Sabic has named Yousef bin Abdullah Al Benyan as the new vice chairman and CEO, said the company in a filing to the Saudi bourse Tadawul.
Also Fahad bin Abdullah bin Abdullatif Al Mubarak has been elected as a new board member, it stated.
Ranked among the world’s largest petrochemicals manufacturers, Sabic is 70 per cent owned by the Saudi Arabian government, while the remaining 30 per cent is publicly traded on the Saudi stock exchange.
In a surprise move, two non-Saudis – Calum Mclean and Roberto Gualdoni (both non-executive members) have been inducted into the board.