Economy
Yousef Al-Benyan resigns as CEO of SABIC to serve as Education Minister
Follow-ups -eshrag News:
Wed, 2022-09-28 16:27
RIYADH: Chemical giant Saudi Basic Industries Corp. has announced the resignation of its CEO Yousef Al-Benyan, after being appointed Minister of Education by Royal Decree.
Accordingly, SABIC’s Board appointed Abdulrahman Al-Fageeh as acting CEO for six months effective Sep. 28, 2022, according to a bourse filing.
The Riyadh-based company reported a 33 percent surge in first-quarter profits to SR6.47 billion, driven by a 40 percent rise in sales.
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