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Riyadh - Mubasher: The board of directors of Saudi Basic Industries Corporation (SABIC) approved, on 16 June, to name Khalid Hashim Al Dabbagh as the company's chairman, succeeding Abdulaziz Saleh Aljarbou.
The board accepted the resignations of three board members, namely, Aljarbou, Roberto Gualdoni and Rashid Ibrahim Sharif; and appointed three new members, namely Al Dabbagh (executive), Olivier Gerard Thorel (non-executive), and Ziad Thamer Al Murshed (non-executive), according to a stock exchange statement on Wednesday.
The reason behind the resignations is the completion of Saudi Aramco’s acquisition of a 70% stake in SABIC.
All of the new appointments come into effect immediately.
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