Executive Summary
Eng. Abdulrahman Al-Fageeh serves as SABIC's Chief Executive Officer and Executive Member of the Board. In 2024, he led SABIC through a challenging global chemical industry climate marked by geopolitical uncertainty, shifting consumer preferences, and the growing urgency to decarbonize. Under his leadership, the company achieved full-year revenue of SAR 139.98 Bn. (US$ 37.33 Bn.), with EBITDA reaching SAR 19.47 Bn. (US$ 5.19 Bn.), up 2% year-over-year. He emphasized disciplined execution, cost optimization, and a focus on high-margin opportunities to maintain EBITDA margin at 14%. His strategic direction includes guiding SABIC's transformation through four interconnected strategic levers: transformation, portfolio management, growth, and value creation. He oversees the execution of strategy ensuring that investments align with long-term growth and economic returns while underperforming assets are structurally improved or otherwise monetized. Under his leadership, SABIC completed divestments of Hadeed and the Functional Forms business and signed an agreement to sell its stake in Aluminium Bahrain B.S.C. (Alba). He champions sustainability-driven innovation, including collaborations on electrically heated steam-cracking furnaces and low-carbon methanol products. He emphasizes operational excellence, leadership development, and safety culture, concluding 2024 with SABIC's best-ever safety performance with a Total Recordable Injury and Illness Rate of 0.09 and zero fatalities. He strengthened the governance framework with a new Board-approved Code of Ethics and obtained the company's third consecutive Ethisphere Compliance Leader certification.