Vice Chairman and CEO, SABIC
Yousef Al-Benyan, vice chairman and CEO, Saudi Basic Industries Corporation (SABIC), occupies the second position in the 2017 ‘Power 50’ list. Headquartered in Riyadh, Saudi Arabia, SABIC is the world’s fourth largest diversified petrochemicals company, and has 35,000 employees worldwide. Net profit of SABIC for Q3-2017 was $1.54bn as compared to $1.39bn in the same period last year, a jump of 10.71%.
In 1987, Al-Benyan joined the company in the role of a business development specialist. Later on, he joined the company’s corporate communications department, and then relocated to Stamford, Connecticut, US, as operations manager.
In 1994, Al-Benyan became commercial manager for SABIC in the US and Latin America, based in Houston, Texas, US. In 2002, he was promoted as general manager of SABIC Asia. During this tenure, he made significant contributions to SABIC’s growth in Asia.
He returned to Houston in the fall of 2005 as general manager of SABIC Americas. In 2007, he took on the role of general manager at fibre intermediates, before being named in February 2008 to head corporate human resources.
As chairman of the ‘1 SABIC’ global unification initiative, Al-Benyan reorganised the company’s business structure with a new, single, global organisation and operating model, moving from a responsive, transactional entity to a proactive, strategic global organisation.
Al-Benyan was named in 2013 to head SABIC’s chemicals business, the company’s largest unit, to help SABIC achieve its goal of becoming the preferred global leader in chemicals by 2025. He also served as executive vice president, corporate finance and CFO, prior to being named vice chairman and CEO.
Other positions held by Al-Benyan include chairman of the Gulf Petrochemicals and Chemicals Association, chairman of the boards at Yanbu National Petrochemical Company, Saudi Arabian Fertiliser Company, and Saudi Iron and Steel Company.