ALKHOBAR: Saudi Kayan Petrochemical Co. said on Sunday that its president Mazyad Al-Khaldi had resigned for personal reasons.

The company, an affiliate of Saudi Basic Industries Corp. (SABIC), said in a statement on the bourse website that Al-Khaldi's resignation would take effect from March 31.

It added that it would announce at a later stage the appointment of a new president.

Last month, SABIC named Yousef Al-Benyan as its own acting chief executive after Mohamed Al-Mady assumed another post at a top state corporation.