SABIC has announced that its CEO and Executive Member of the Board, Abdulrahman Al-Fageeh, will retire effective April 1, 2026. The company’s Board of Directors has appointed Dr. Faisal Al-Faqeer as the new CEO. Additionally, Ibrahim Al-Buainain will join the SABIC Board of Directors as an interim member, filling the position vacated by Al-Fageeh.
SABIC Chairman Khalid Al-Dabbagh stated: “The SABIC Board acknowledges Engr. Al-Fageeh’s outstanding stewardship during a significant period of evolution for the company. During his tenure, he oversaw key strategic initiatives that have strongly positioned the company for its next phase of development, and we thank him for his valuable contributions and leadership.”
Al-Dabbagh also commented on SABIC’s ongoing role in the industry: “SABIC plays a critical role in the petrochemicals sector by driving industrial transformation and serving as a foundational pillar of economic development and sustainable growth. The Board expresses its full confidence in the incoming CEO, Dr. Faisal Al-Faqeer, whose leadership and experience will help ensure business continuity as we continue to identify opportunities to innovate and unlock value in the global petrochemicals market.
“Looking ahead, SABIC remains well-positioned for continued growth and positive transformation. With its strong leadership team, robust governance, and a clear strategic vision, the company remains focused on delivering for both its customers and its shareholders.”
Abdulrahman Al-Fageeh was named CEO and Executive Member of SABIC’s Board on March 21, 2023 after serving as acting CEO since September 28, 2022. He has worked at SABIC for over four decades in various senior executive roles including Executive Vice President overseeing Petrochemicals, Performance Chemicals and Polymers.
Dr. Faisal Al-Faqeer comes to SABIC from Aramco where he was Senior Vice President responsible for In-Kingdom Liquids-to-Chemicals Development. He previously served as CEO at Sadara Chemical Company between October 2017 and November 2022 and has chaired boards at ARLANXEO and Saudi Aramco Mobil Refinery Company.
Dr. Al-Faqeer holds degrees in chemical engineering from King Fahd University of Petroleum and Minerals as well as advanced degrees in materials science from Pennsylvania State University.
Ibrahim Al-Buainain is currently Executive Vice-President of Global Manufacturing at Aramco which owns a majority stake (70%) in SABIC.
