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Saudi's SABIC Recommends New Presidents for Three Affiliates

Source: Reuters 5/23/2016, Location: Middle East

Petrochemicals giant Saudi Basic Industries Corp (SABIC) has recommended the appointment of new presidents at three of its affiliates, including one subsidiary which experienced a deadly fire last month, industry sources said.

No reasoning was given by the sources for the changes at the companies, which are all located in Jubail, Saudi Arabia's biggest industrial city on its eastern coast.

SABIC declined to comment.

The sources said SABIC recommended to the board of United Petrochemical Co that it appoint as its new president Abdullah al-Shamrani.

In April 12 workers were killed and 11 were injured after a fire broke out during routine maintenance at United, which is owned by SABIC, with a 75 percent stake, and two government funds.

As well as the appointment of Shamrani, who was president of AlBayroni Al-Jubail Fertilizer Co, a number of United's general managers are also being replaced, according to two of the sources. Shamrani was due to start on May 18, according to one of the sources.

The other changes being recommended include the appointment of Mansour al-Qsoumi as president of Arabian Petrochemical Co, known as Petrokemya, with Khalid al-Elyani replacing him as president of Saudi European Petrochemical Co., known as Ibn Zahr.

Elyani is currently general manager of operations at SABIC's Sadaf joint venture with a unit of Royal Dutch Shell.

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