HZ info，March 4, 2026,SABIC  announced the retirement of its CEO and Executive Member of the Board, Abdulrahman Al-Fageeh, who has been an instrumental figure in guiding the company through a crucial period of strategic optimization designed to ensure its long-term success and reinforce its role at the forefront of the global petrochemicals industry. 

Engr. Al-Fageeh will retire from his role on April 1, 2026, and the Board of Directors has appointed Dr. Faisal Al-Faqeer as the new CEO. In addition, Ibrahim Al-Buainain has been appointed as an interim member of the SABIC Board of Directors, filling the seat vacated by Engr. Al-Fageeh.

“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,” said SABIC Chairman, Khalid Al-Dabbagh.

“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."

Engr. Al-Fageeh was appointed as SABIC CEO and Executive Member of the Board of Directors on March 21, 2023, having served as acting CEO since September 28, 2022. A global leader in the chemical industry, Engr. Al-Fageeh has held multiple senior executive positions at SABIC over the course of more than 40 years. Before being appointed CEO, he served as Executive Vice President of the Petrochemicals, Performance Chemicals and Polymers strategic business units. 

SABIC’s incoming CEO Dr. Al-Faqeer has been Senior Vice President of In-Kingdom Liquids-to-Chemicals Development at Aramco, one of the world’s leading integrated energy and chemicals companies. He previously served as CEO at Sadara Chemical Company from October 2017 to November 2022. He has also served as Chairman of the Board of both ARLANXEO and Saudi Aramco Mobil Refinery Company.

Dr. Al-Faqeer holds a Bachelor of Science Degree in Chemical Engineering from King Fahd University of Petroleum and Minerals, along with a Master of Science Degree and a Ph.D Degree in Materials Science, both from Pennsylvania State University. 

The Board of Directors interim member Mr Al-Buainain is currently Executive Vice-President of Global Manufacturing at Aramco, which is also SABIC’s majority shareholder with a 70% stake.