Saudi state petrochemicals and industrial giant Sabic has appointed an acting chief executive officer after recently crowned King Salman issued a royal decree on 15 February appointing CEO Muhammad al-Mady president of the General Establishment for Military Industries “with immediate effect.”
Although Riyadh did not explain Mr Mady’s switch to running the Saudi armed forces’ equipment supplier, it is likely that his 17 years’ experience in leading Sabic – during which time he transformed the company into a global petrochemicals giant – was thought invaluable at a time of escalating geopolitical tension (see p16). (CONTINUED - 108 WORDS)
