Mohamed Al Mady is the CEO of the Middle East’s largest listed company, Saudi Basic Industries Corp (SABIC). Al Mady has been a constant feature in the operations and development of SABIC from its formation in 1976. Today the company employs over 31,000 people, and with a market capitalization in excess of $30bn it is considered the largest diversified chenical maker in the world by market and asset value.
This year, SABIC has seen its year-to-date profit surge 52% compared to the same period in 2011, accumulating an impressive profit of US$6.39bn. SABIC affliate Hadeed is the Middle East’s top steel manufacturing company, while the parent company also holds the single most comprehensive portfolio of polymer resigns of any supplier in the world.
And its momentum is showing little sign of faltering, with Al Mady announcing major plans in the pipeline via investments in China and India and a new global corporate venture capital subsidiary, SABIC Ventures. Headquartered in Holland, Ventures will look at strategic options for the company’s future business.