CEO of Saudi Arabia’s Sabic, Yousef Abdullah Al-Benyan, resigns

Yousef Abdullah Al-Benyan, CEO of Saudi Arabia-based chemicals maker Saudi Basic Industries Corporation (Sabic), has stepped down.

The resignation comes after a royal decree appointed Al-Benyan as the kingdom’s education minister earlier this week.

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— SABIC I سابك (@SABIC) September 28, 2022

The board of directors have appointed Abdulrahman Saleh Al-Fageeh as acting CEO for six months, starting September 28, Sabic said in a disclosure filed on the Saudi Exchange.

Prior to his position as Sabic’s vice chairman and CEO, Al-Benyan served as the executive vice president, corporate finance and CFO.

Al-Benyan holds a bachelor’s degree in economics and a master’s degree in industrial management. He is also the chairman of the boards of SABIC Agri-Nutrients Company, SABIC Investment & Local Content Development Company (Nusaned), the Gulf Petrochemicals and Chemicals Association (GPCA), and the Petrochemical Manufacturers Committee.

He also serves on the boards of Saudi Tadawul Group and Saudi Information Technology Company, according to the company’s website.