Tasnee CEO Mutlaq Al-Morished resigns, Fawaz Al-Fawaz takes helm

Tasnee headquarters

National Industrialization Co.’s (Tasnee) board of directors decided today, March 6, to accept the resignation of CEO Mutlaq Al-Morished, effective March 31, 2024, after he expressed his intention to retire.

In a statement to Tadawul, the company said the board appointed Fawaz Al-Fawaz as the new CEO, effective April 1.

Al-Fawaz has over 30 years of experience in the global petrochemicals industry, having held numerous leadership positions. He previously served as Tasnee CFO from April 2015.

Al-Fawaz holds a bachelor's degree in accounting from King Saud University. He has participated in several executive and leadership programs, covering critical areas such as financial strategy, mergers and acquisitions, risk management, and governance.

Al-Fawaz currently chairs the board of directors of SAL Saudi Logistics Services Co. He also holds positions as a board member in Saudi Chemical Co. Holding (SCCH) and Industrialization and Energy Services Company (TAQA).