Saudi Basic Industries Corporation appoints new Chief Executive Officer.

SABIC announced on March 31st that their CEO and Executive Director, Abdullah Rahman Al-Fayyad, will be retiring. The SABIC Board of Directors has appointed Faisal Al-Ghafili as the new CEO, effective April 1, 2026. In addition, Ibrahim Buyan has been appointed as a temporary member of the SABIC Board of Directors, replacing Al-Fayyad. Ibrahim Buyan currently serves as the Executive Vice President of Global Manufacturing Operations at Saudi Aramco. Saudi Aramco is also the majority shareholder of SABIC, holding a 70% stake.