Saudi Basic Industries Corp. (SABIC) has named Khalid Al-Faqeer as its new chief executive officer, succeeding Dr. Abdulrahman Al-Fawaz. The change marks a pivotal moment for the petrochemical giant as it navigates evolving global energy demands and regional diversification goals.
- Khalid Al-Faqeer appointed CEO of SABIC effective March 15, 2026
- SABIC generated $58.3 billion in revenue and $7.9 billion EBIT in 2025
- Company operates 57 manufacturing sites across 50+ countries
- SABIC’s $35 billion capital investment plan extends through 2030
- SABIC stock (SABIC) up 14% YTD as of March 2026
- Leadership change aligns with Saudi Vision 2030 and industrial diversification goals
Sabic, the Riyadh-based chemical conglomerate and a cornerstone of Saudi Arabia’s industrial strategy, has officially appointed Khalid Al-Faqeer as its new CEO, effective March 15, 2026. Al-Faqeer, a seasoned executive with over two decades of leadership experience in energy and industrial sectors, previously served as the head of the Saudi National Industrial Development Fund and held senior roles within the Ministry of Industry and Mineral Resources. His appointment signals a continued focus on accelerating the company’s transformation and enhancing its global competitiveness. The move comes at a time when SABIC is actively expanding its portfolio beyond traditional petrochemicals into advanced materials and sustainable solutions. The company reported $58.3 billion in revenue in 2025, with earnings before interest and taxes (EBIT) reaching $7.9 billion. SABIC’s global footprint spans more than 50 countries, and it operates 57 manufacturing sites, including major facilities in Saudi Arabia, China, and the United States. The new CEO will oversee a strategic pivot toward low-carbon technologies and circular economy initiatives, including the expansion of its green methanol and recyclable plastics ventures. Market participants are closely watching the leadership transition, particularly given SABIC’s influence on regional commodity markets. As a major producer of ethylene, polyethylene, and ammonia, the company’s operational decisions can impact benchmark prices for crude oil (CL=F) and natural gas (SZ=F). SABIC’s stock, traded under the ticker SABIC, has shown resilience with a 14% year-to-date gain, reflecting investor confidence in its long-term strategy. The shift in leadership is expected to reinforce investor sentiment and support the company’s $35 billion capital expenditure plan through 2030. The appointment underscores Saudi Arabia’s broader economic diversification agenda under Vision 2030, with SABIC playing a critical role in reducing the kingdom’s reliance on oil exports. Al-Faqeer’s leadership is anticipated to strengthen partnerships with international players and enhance SABIC’s integration into global supply chains, particularly in high-growth markets like Southeast Asia and North America.