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Sadara Basic Services Company Announces resignation of the Chief Executive Officer and the appointment of a new Chief Executive Officer of its parent company, Sadara Chemical Company.
| Element List | Explanation |
|---|---|
| Name of the Resigned CEO | Yahya Abu Shal |
| Resignation Acceptance Date | 2023-08-31 Corresponding to 1445-02-15 |
| Resignation Effective Date | 2023-08-31 Corresponding to 1445-02-15 |
| Reasons for Resignation | Assuming new responsibilities |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the CEO | Mr. Fayez Al Sharef |
| Date of Board Resolution | 2023-08-31 Corresponding to 1445-02-15 |
| Date Work Commencement | 2023-09-01 Corresponding to 1445-02-16 |
| Brief Resume | Fayez Al-Sharef began his career with Saudi Aramco in 2002 and before that he worked with SABIC for nine years both in manufacturing and planning. At Saudi Aramco he served in various leadership roles in the areas of operations and business development. Fayez led the commercial team leading to the formation of Sadara. Later on he was Vice President, Chemicals Sales and Marketing at Aramco Trading Company from January 2014 to October 2015, after which he became in charge of Saudi Aramco’s Domestic Sales and Logistics Department responsible for Aramco’s domestic sales of all feedstock’s and fuels. From the founding of ARLANXEO until August 1st 2018, he was Chief Procurement Officer of ARLANXEO and member of the Executive Board. He is currently Board Member of both Arlanxeo’s and Sadara Chemical Co. Currently he is in charge of Amiral Program which will upgrade Satorp, Saudi Aramco JV with TOTAL into one of the world’s biggest integrated Refining/ Chemicals sites. The Program entails significant 3rd party investments bringing new value add products to Kingdom. Fayez Hold a BSc in Chemicals Engineering from KFUPM and graduate of Harvard Business School Executive programs. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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