Time : July 30, 2018
Yousef Abdullah Al-Benyan is a Saudi businessman and the chief executive officer of the Saudi Basic Industries Corp. (SABIC) — the world’s third-largest diversified petrochemicals company.
Headquartered in Riyadh, SABIC is the largest public company in the Middle East with a staff of over 40,000 employees worldwide.
During a press conference held this week at SABIC headquarters, Al-Benyan revealed the net profit gains the company has achieved in the second quarter of 2018 — an impressive SR6.7 billion, in comparison to SR3.71 billion in the same period last year, a rise of 81 percent.
Al-Benyan confirmed that these results reflect the company’s ability to achieve large returns on positive developments within international markets, aided by the transformation and restructuring of key initiatives implemented over the past two years.
After earning his bachelor’s degree in economics, and his master’s degree in industrial management, Al-Benyan joined SABIC in 1987 as a business development specialist before joining SABIC’s corporate communications division. Al-Benyan would then relocate to Stamford, Connecticut, US, where he would serve as SABIC’s operations manager. In 1994, he became a commercial manager for SABIC representing both North America and Latin America, while based in Houston, Texas.
In 2002, he was promoted to general manager of SABIC Asia, where he would make significant contributions to SABIC’s growth in the Asian market, especially in China. Al-Benyan returned to Houston in the fall of 2005 as the general manager of SABIC Americas, and in 2008, would be called upon to head the corporate human resources. In 2013, Al-Benyan was appointed as head of SABIC’s chemicals business, the company’s largest unit.
Prior to being named vice chairman and chief executive officer, Al-Benyan also served as executive vice president, corporate finance and CFO. Other positions he holds include the chairman of the Gulf Petrochemicals and Chemicals Association (GPCA), chairman of the boards at Yanbu National Petrochemical Co. (Yansab), the Saudi Arabian Fertilizer Co. (SAFCO) and Saudi Iron and Steel Co. (HADEED), as well as chairman of the Petrochemical Manufacturers Committee.
Al-Benyan is also a member of the International Business Council of the World Economic Forum, a member of the King Saud University Advisory Board, a board member of the King Abdulaziz City for Science and Technology, as well as an Executive Committee member of the Riyadh Economic Forum at the Riyadh Chamber of Commerce.