Sun 06 Dec 2009 12:57 PM
Mohamed Al Mady

Industry: Construction & Industry

Company: Saudi Basic Industries Corporation

Designation: Vice chairman and CEO

Country: Saudi Arabia

Occupation: Vice chairman and CEO

Mohamed Al Mady has worked at Saudi Arabia's largest public company, Saudi Basic Industries Corporation (SABIC) , since its inception in 1976 and has headed up the firm since July 1998.

This year has been one of SABIC 's toughest yet. It started the year with a net loss of $259.7m in the first quarter, which was then followed in November with more losses of $960m.

Al Mady has defended the results, saying that 2008 was an "exceptional" year. "It's unfair to compare to 2008... It will be difficult to realise the same profits as in 2008. We should rather compare to the previous quarters of this year," he told reporters.

According to a Reuters calculation, the firm has in fact doubled its net profit relative to the second quarter of this year and increased its sales by about 14 percent.

In addition to his work with SABIC , Al Mady is also the chairman and managing director of the Saudi Arabian Fertiliser Company and the chairman of the Gulf Petrochemicals and Chemicals Association. He has a Masters Degree in Chemical Engineering from the University of Wyoming, USA.