SearchCorporate Governance
SABIC's board provides efficient oversight, strategic direction, and guidance on a wide variety of matters.
GOVERNANCE FRAMEWORK
Since our founding, SABIC has been resolute in driving the highest standards of corporate governance, which is integral to our business ethos. Our governance practices are aligned with relevant laws and regulations, including the Capital Market Authority (CMA), while adhering to internationally recognized best practices. Our Board is structured to ensure effective oversight and strategic direction, adding value to SABIC's operations and promoting long-term success.
SUSTAINABILITY GOVERNANCE AND ORGANIZATION
SABIC's Board holds ultimate responsibility for driving the company's long-term success. The Board Sustainability, Risk, and EHSS Committee (BSREC) supports the Board in overseeing performance across health, safety, process safety, security, environment, human rights, and corporate social responsibility, making recommendations to the Board as needed. Chaired by the CEO, the SABIC Executive Committee comprises Executive Vice Presidents of business units and corporate functions, including the Chief Sustainability Officer (CSO).
The SABIC Executive Committee is responsible for setting the company's sustainability vision, priorities, and goals, with ultimate accountability for sustainability performance outcomes. This year, SABIC consolidated its corporate sustainability activities under the CSO to bring more focus and accountability. This will improve decision-making and further drive integration into core business activities. It will also focus on governance and delivery of key sustainability initiatives and creating value for SABIC shareholders.
BOARD STRUCTURE AND COMPOSITION
SABIC has a one-tier Board consisting of nine directors, the majority of whom are non-executives, Including independent directors. The SABIC Board has the right size and skill mix for managing the company's business affairs.
As of December 31, 2024, the SABIC Board comprises the following directors:
| Name |
|
Role | Classification | Capacity | External mandates** |
|---|---|---|---|---|---|
| Khalid Al-Dabbagh | Chairman | Non-executive | In his personal capacity | 1 | |
| Ziad Al-Murshed | Member | Non-executive | In his personal capacity | - | |
| Abdulrahman Al-Fageeh | Member | Executive | In his personal capacity | 1 | |
| Mohammed Al-Nahas | Member | Non-executive | Representing GOSI* | 1 | |
| Dr. Mohammed Al-Qahtani | Member | Non-executive | In his personal capacity | 2 | |
| Yousef Al-Zamel | Member | Independent | In his personal capacity | - | |
| Nader Al-Wehibi | Member | Independent | In his personal capacity | 1 | |
| Calum MacLean | Member | Independent | In his personal capacity | - | |
| Dr. Faisal Al-Faqeer | Member | Non-executive | In his personal capacity | - |
* General Organization for Social Insurance
** in joint-stock listed companies
Read more about our leadership: board members and executive management.
SABIC BOARD: NOMINATION AND SELECTION
The current Board term expires on April 9, 2025. A new Board will be elected to start a new Board term (April 10, 2025 – April 9, 2028). Nomination to the Board membership is publicly invited. Candidates are objectively assessed and short-listed based on merit and in accordance with the principles and criteria set forth in SABIC's Board Membership Policy. The Board's needs for skills, expertise balance and diversity enhancement are also considered during the nomination process. Candidates are nominated by the BRNC and the Board for election by voting at the General Assembly for a three-year term or for the remainder of the Board term.
GENDER DIVERSITY
BOARD PERFORMANCE ASSESSMENT
- An annual self-assessment conducted through a tailored written survey, which assesses the individual and collective performance of the Board. The 2024 self-assessment exercise was completed, with Board members reflecting on and transparently responding to questions covering aspects such as the Board's size, independence, diversity, skills, relationship with management, meeting effectiveness, and information flow. The assessment results are being considered for the creation of an action plan as part of the Board's continuous improvement process.
- A comprehensive Board assessment facilitated by an external board performance review consultant. Conducted every three years, it uses written surveys and individual interviews to assess the individual and collective performance of the Board and committees, Board dynamics, information structure, and selected executives' performance. The next externally facilitated Board assessment will take place in 2026.
Disclaimer: This abridged interactive version of the SABIC Integrated Annual Report 2024 is based on the original PDF report published on this website. In case of any discrepancy, the original PDF report will prevail.