SABIC approves board members for new term until April 2022

Saudi Basic Industries Corp (SABIC) board of directors approved the members for a new term until April 2022 at an Ordinary General Assembly meeting held at the company headquarters in Riyadh on April 9.

Abdulaziz Aljarbou was named as SABIC chairman and Yousef Al-Benyan as vice chairman and CEO.

“We hope to build on the successes achieved by this national symbol of excellence to ensure its continued growth and development,” Aljarbou said in a statement.

Al-Benyan also welcomed the decision to rename him as the vice chairman and CEO and reiterated that he would work together with all stakeholders to take SABIC to even greater heights among global companies.

SABIC’s assets reached $85 billion by the end of 2018 and a market value of $93 billion. Its annual sales touched $45 billion and net income of $5.7 billion.