Saudi Basic Industries Corp (SABIC) said on Sunday it has named Yousef Abdullah Al Benyan as its new chief executive officer, replacing outgoing head Mohamed Al Mady.
Benyan was named executive vice president of corporate finance for SABIC last month, replacing Mutlaq Al Morished who joined National Industrialization Co (Tasnee) as its CEO in December.
New Saudi King Salman appointed Mady as the president of the country’s military industries corporation, a royal decree published on the state news agency SPA said on Saturday.
Mady has been working at SABIC, one of the world’s largest petrochemicals companies, since 1976.
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