By Andy Sambidge
Mohamed H Al Mady named co-chairman on US-Saudi Arabian Business Council
The US-Saudi Arabian Business Council has named Mohamed Al Mady, vice chairman and CEO of petrochemical giant Saudi Basic Industries Corporation (SABIC), as the its new co-chairman.
He succeeds Abdulaziz Al-Quraishi, CEO of Ali Al-Quraishi & Brothers Company.
Al Mady has been a member of the Business Council's board of directors since 1998, a statement said.
Al Mady joined SABIC in 1976, and since then has held various key positions within the company.
The statement said he has received many awards, including the Middle East CEO Award in 2005 and the International Petrochemical Heritage Award in 2009.
He is also chairman of the Gulf Petrochemicals and Chemicals Association and chairman and managing director for the Saudi Arabian Fertilizer Company. He is also a member of the International Business Council for the World Economic Forum.
The United States co-chairman of the US-Saudi Arabian Business Council is Peter J Robertson, former vice chairman of Chevron, the statement added.
The US-Saudi Arabian Business Council is a non-profit organisation that works to improve knowledge and understanding between the private sectors of the US and Saudi Arabia and promote and facilitate increased bilateral trade and investment.