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Saudi Basic Industries Corporation (SABIC) announces the resignation of the Chief Executive Officer and appointment of a new Chief Executive Officer for the Company.
| Element List | Explanation |
|---|---|
| Introduction | Saudi Basic Industries Corporation (SABIC) announces retirement of CEO, Eng. Abdulrahman Saleh Al-Fageeh. In this occasion, SABIC Board of Directors extends its sincere thanks and appreciation to Eng. Abdulrahman Saleh Al-Fageeh, who has been an instrumental figure in guiding the company through a crucial period of strategic optimization designed to ensure its long-term success and reinforce its role at the forefront of the global petrochemical industry . The board acknowledge his outstanding leadership during a significant period of evolution for the company, he oversaw key strategic initiatives that have strongly positioned the company for its next phase of development. The Board of Directors also decided to appoint Dr. Faisal Mohammed Al-Faqeer as the CEO of the Company starting from 01 April 2026. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Eng. Abdulrahman Saleh Al-Fageeh |
| Resignation Acceptance Date | 2026-03-03 Corresponding to 1447-09-14 |
| Resignation Effective Date | 2026-03-31 Corresponding to 1447-10-12 |
| Reasons for Resignation | Retirement |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Dr. Faisal Mohammed Al-Faqeer |
| Date of Board Resolution | 2026-03-03 Corresponding to 1447-09-14 |
| Date Work Commencement | 2026-04-01 Corresponding to 1447-10-13 |
| Brief Resume | Dr. Faisal Mohammed Al-Faqeer has extensive experience in Petrochemicals and Refining Industries. He is currently the Senior Vice President of Liquids to Chemicals in Saudi Aramco. He earned a Master’s degree and Ph.D. in Materials Science & Engineering from the Pennsylvania State University, as well as a Bachelor’s degree in Chemical Engineering from King Fahad University of Petroleum and Minerals. |
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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