RIYADH, SAUDI ARABIA — The Saudi Basic Industries Corp.'s board of directors has appointed Yousef Abdullah Al-Benyan as acting CEO, succeeding Mohamed Al-Mady who has been named president of the general establishment for military industries in Saudi Arabia.
Al-Mady has led Sabic for 17 years, overseeing its purchase of the former GE Plastics operations in 2007 as the company became a global leader in resins. He was named to the post by Saudi Arabia's new king, Salman bin Abdulaziz Al Saud.
Yousef Al-Benyan is currently executive vice president for corporate finance and has served in the past as executive vice president for chemicals, general manager of Sabic Americas and general manager for Sabic Asia Pacific.
The producer of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers said in a Feb. 15 news release that it expects confirmation soon on the appointment of a permanent CEO.