Mohamed Al Mady, CEO of Sabic for 17 years, has left the Saudi petrochemicals giant to take up the position of president of the country's Military Industries Corp at the request of new King Salman. He will report directly to the minister of defense.

With effect from 15 February, Yousef Abdullah Al Benyan was appointed acting CEO of the Sabic, and is thought likely to be permanently appointed The Sabic CEO is appointed by the Saudi cabinet or council of ministers. The Sabic CEO is appointed by the Saudi cabinet or council of ministers.

The new interim chief had only recently been named executive vice president for finance at Sabic, replacing Mutlaq Al Morished, who became CEO of National Industrialization Co (Tasnee) in December.

In the past, Al Benyan served as executive vice president for chemicals and executive vice president for human resources at Sabic. He also served as general manager of Sabic Americas in Houston as well as general manager Sabic Asia-Pacific.

Saudi observers said they had expected that Al Mady would move on but the timing was uncertain, especially after the passing of King Abdullah.