Industry, Logistics & Shipping

Sabic CEO resigns after being named Education Minister

Saudi Basic Industries Corporation (Sabic) has announced resignation of its CEO Yousef Abdullah Al-Benyan, in light of the Royal Decree appointing him as Saudi Arabia's Minister of Education.
Accordingly, Sabic Board of Directors has resolved to appoint Eng Abdulrahman Saleh Al-Fageeh as Acting CEO of Sabic for six months, effective September 28, said a stock market filing.
Sabic Board of Directors extended its sincere thanks and appreciation to Al-Benyan for his remarkable efforts which enabled the company to grow to be a global leader in the petrochemicals industry, it said.  -TradeArabia News Service