Saudi's Advanced Petrochemical names CEO as Al Garawi exits
Incoming chief Fahad Salem Al Matrafi is currently VP of technical services at the downstream giant
Eng Abdullah M Al Garawi has resigned as chief executive officer of Saudi Arabia’s Advanced Petrochemical Company, and will be replaced by vice president of technical services, Fahad Salem Al Matrafi, effective 16 August, 2019.
The Saudi petrochemicals giant said Al Garawi was approaching the end of his contract “with no desire for renewal”.
He will continue to support as chief advisor to the firm's board until 30 November, 2019, the firm said in a missive to Tadawul.
The board said incoming CEO Fahad Salem Al Matrafi was an “experienced Saudi executive with a long track record of more than 20 years in the petrochemical industry”.
It added: “He will take over the leadership of the company with his tremendous operational, technical, and marketing expertise.”
Al Matrafi started his career with Ibn Zahr Saudi-European Petrochemical Company, a subsidiary of Saudi Basic Industries Corporation (Sabic), and held various managerial positions in operations, technical, and business departments.
He joined Advanced in 2008 as general manager of operations and subsequently held positions such as GM of supply chain and technical, before being promoted as VP in January 2019.
Advanced is one of the biggest names in the kingdom’s downstream energy sector.
According to its 2018 financial results released in February, net profit after tax and zakat last year stood at $191.1m (SAR716.7m) – a 14% increase on 2017, when the corresponding figure stood $168.3m (SAR631.1m).