BOARD OF DIRECTORS
The Board of Directors sets and reviews SABIC’s corporate policies and procedures, including its main corporate objectives, strategic plans, and overall key performance indicators such as sustainability, social responsibility, and governance. The Board also approves SABIC's annual business plans and budgets, and ensures the availability of financial and human resources required to achieve these plans. In addition, the Board has the overall responsibility for identifying the optimal capital structure for SABIC, major capital expenditures, and asset acquisition and disposal decisions. The Board also oversees the implementation and monitoring of internal control systems.
SABIC is managed by a board of nine members with the right expertise for managing the company’s business. They are elected by the Ordinary General Assembly for a term not exceeding three years, subject to renewal. The Board of Directors appoints – from among its members – a Chairman and a Vice-Chairman. The Ordinary General Assembly shall specify the remuneration and allowances of the members of the Board in compliance with Companies Law and the rules and instructions issued by the competent authority; whether such remuneration consists of a fixed pay, meeting attendance allowance, or a percentage of profit. The remuneration may consist of a combination of two or more of these benefits.
The Board is comprised of the following members:
||Title||Expiry of term|
|Khalid Hashim Al-Dabbagh||Chairman – Non-Executive Member||April 2022|
|Yousef Abdullah Al-Benyan||Vice Chairman and CEO – Executive Member||April 2022|
|Abdullah Mohammed Alissa||Board Member – Non-Executive Member||April 2022|
|Calum Grigor MacLean||Board Member – Non-Executive Member||April 2022|
|Ziad Thamer Al-Murshed||Board Member – Non-Executive Member||April 2022|
|Olivier Gerard Thorel||Board Member – Independent Member||April 2022|
|Dr. Khaled Hamza Nahas||Board Member – Independent Member||April 2022|
|Mohammed Talal Al-Nahas||Board Member – Non-Executive Member||April 2022|
|Nader Ibrahim Al-Wehibi||Board Member – Independent Member||April 2022|
BOARD PERFORMANCE ASSESSMENT
The Board established a comprehensive program to assess the Board and committees performance. It developed procedures for conducting periodical assessment of the Board and committees performance. These procedures are set out in the charters of the Board and committees.