FaceOf: Yousef Abdullah Al-Benyan, CEO of Saudi Basic Industries Corp.

Updated 30 July 2018
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FaceOf: Yousef Abdullah Al-Benyan, CEO of Saudi Basic Industries Corp.

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.


Saudi women incubate creative ideas for community development

Updated 36 min 7 sec ago
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Saudi women incubate creative ideas for community development

JEDDAH: The Halcyon Incubator fellowship on Friday concluded a program in Washington, DC for a group of Saudi female pioneers in social development.
Fourteen Saudi innovators working in community development on Thursday gave presentations on seven ambitious projects that highlight applications that they are seeking to implement.
The seven Saudi projects highlighted a number of unique applications, such as the online on-click link between dentists, lab technicians and labs, whose design has shown that it will make a major social change in its country and will save waiting for medical appointments and reports.
Another online project helps children with autism to improve communication skills through games and educational activities.
Another focuses on linking history and modern technology in many languages to improve tourism and make it easier for pilgrims to visit the country.
It also presented practical projects such as “Green Desert,” which seeks to contribute to solving the problem of lack of waste recycling culture in Saudi Arabia.
During his visit to the Halcyon Incubator, the director of innovation and entrepreneurship at Taibah University, Dr. Mohammed Al-Ghamdi, praised its development of social projects. He also congratulated the group of Saudi women for their innovative excellence.
The Saudi Innovations Group has spent two weeks working in the hospitality of the Halcyon Incubator, which has been named the “Kingfisher” as a symbol.
The organization seeks to promote creativity in all its forms throughout the world by stimulating and supporting creators who seek to promote the good in their communities.
The annual program of the Halcyon Incubator sponsors various groups of change-makers in the fields of arts and social projects and provides them with an environment that incubates their bold ideas and helps them to learn, gain experience and knowledge and provide them with free trial opportunities to enhance their talents and visions and transform them into influential energies in society.