Change of CEO in Sabic

Sabic announced the retirement of its CEO and Executive Member of the Board, Abdulrahman 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 petrochemicals industry. Abdulrahman Al-Fageeh will retire from his role on April 1, 2026, and the Board of Directors has appointed Faisal Al-Faqeer as the new CEO. In addition, Ibrahim Al-Buainain has been appointed as an interim member of the Sabic Board of Directors, filling the seat vacated by Abdulrahman Al-Fageeh.

Abdulrahman Al-Fageeh was appointed as Sabic CEO and Executive Member of the Board of Directors on March 21, 2023, having served as acting CEO since September 28, 2022. A global leader in the chemical industry, he has held multiple senior executive positions at Sabic over the course of more than 40 years. Before being appointed CEO, he served as Executive Vice President of the Petrochemicals, Performance Chemicals and Polymers strategic business units.

Sabic’s incoming CEO Faisal Al-Faqeer has been Senior Vice President of In-Kingdom Liquids-to-Chemicals Development at Aramco, one of the world’s leading integrated energy and chemicals companies. He previously served as CEO at Sadara Chemical Company from October 2017 to November 2022. He has also served as Chairman of the Board of both Arlanxeo and Saudi Aramco Mobil Refinery Company. He holds a Bachelor of Science Degree in Chemical Engineering from King Fahd University of Petroleum and Minerals, along with a Master of Science Degree and a PhD Degree in Materials Science, both from Pennsylvania State University.

The Board of Directors interim member Ibrahim Al-Buainain is currently Executive Vice-President of Global Manufacturing at Aramco, which is also Sabic’s majority shareholder with a 70% stake.