Dr. Faisal Mohammed Alfaqeer assumed office as Chief Executive Officer of Saudi Basic Industries Corporation (SABIC) on April 1, 2026, taking the helm of one of the world's largest petrochemical manufacturers at a pivotal moment for the company. The appointment, made by SABIC's Board of Directors in March, marks a significant leadership transition as Alfaqeer succeeds Eng. Abdulrahman Al-Fageeh, who retired after more than four decades with the organization. The timing is particularly notable as SABIC approaches its 50th anniversary while navigating industry headwinds including overcapacity in the global chemicals market and persistent pressure on profit margins.
SABIC's board appointed Alfaqeer following Al-Fageeh's departure, with the chairman of the board, Khalid Al-Dabbagh, acknowledging his predecessor's stewardship during a challenging period of strategic optimization. No external search firm involvement was disclosed in the appointment announcements. Alfaqeer's selection represents a continuation of SABIC's deep bench of executive talent from within the Saudi energy and chemicals ecosystem. On assuming office, Alfaqeer stated that he was taking the helm of "a global industry leader and national champion with a long-standing legacy," emphasizing his privilege to lead the company into its next chapter as it marks its 50-year milestone.
Alfaqeer brings more than three decades of experience in petrochemicals and refining to the role. Most notably, he served as Chief Executive Officer of Sadara Chemical Company from October 2017 to November 2022, where he led one of the world's largest integrated chemical complexes through its commercial operations phase. Before that appointment, he chaired the boards of ARLANXEO and Saudi Aramco Mobil Refinery Company. Prior to his CEO role at Sadara, Alfaqeer held the position of Senior Vice President of In-Kingdom Liquids-to-Chemicals Development at Saudi Aramco, where he contributed to strategic initiatives aimed at converting hydrocarbon resources into high-value petrochemicals. His educational credentials include a bachelor's degree in chemical engineering from King Fahd University of Petroleum and Minerals in Saudi Arabia, along with a Master of Science degree and Ph.D. in Materials Science and Engineering from Pennsylvania State University.
SABIC is ranked among the world's largest petrochemicals manufacturers, with operations spanning chemicals, polymers, plastics, fertilizers and metals. The company is 70 percent owned by Saudi Aramco following the state oil giant's acquisition of a majority stake in 2020, with the remaining 30 percent publicly traded on the Saudi stock exchange. The company serves customers in more than 140 countries through a global workforce exceeding 26,000 employees, operating major industrial facilities in the Al-Jubail and Yanbu industrial cities in Saudi Arabia as well as a significant international footprint including operations in Europe, the Americas and Asia. Alfaqeer's appointment represents the company's continued focus on operational leadership during a period when SABIC has pursued asset optimization and portfolio realignment under Al-Fageeh's tenure.
Alfaqeer's appointment suggests that SABIC may seek to align strategy more closely with parent company Saudi Aramco, given his direct background in the Aramco organization. The appointment coincides with a period of industry consolidation pressures, falling petrochemical prices and the need for improved operational efficiency across the sector. His prior experience at Sadara, a major joint venture between Saudi Aramco and Dow Chemical, and his focus on downstream integration at Aramco position him to navigate the company's competitive positioning in an evolving global petrochemicals landscape. The board's confidence in his selection, noted explicitly in governance disclosures, suggests expectations that his leadership will help strengthen SABIC's profitability and long-term competitiveness as the company moves beyond its golden 50-year milestone.
