Yanbu National Petrochemical Co (Yansab) appointed Wazen Al-Solami as CEO, effective as of May 1, the company said in a statement to Tadawul today, April 18.
Al-Solami will replace Mohammed Bazaid, who has been nominated for one of the leadership positions at the Saudi Basic Industries Corp. (SABIC).
Al-Solami holds a Bachelor’s degree in electrical engineering. He enjoys a professional career and experience in the petrochemical industries extending for more than 21 years.
He held many leadership positions at Yansab, the last of which was technical director, before moving to SABIC to serve as Director for manufacturing digitalization.
We remind, Yanbu National Petrochemical Company (Yansab) turned to net losses after Zakat and tax valued at SAR 503.60 million in the first nine months (9M) of 2023. The negative results were compared with net profits amounting to SAR 510.60 million in 9M-22, according to the interim income statements. Revenues shrank by 45.24% to SAR 3.08 billion in 9M-23 from SAR 5.63 billion as of 30 September 2022.
mrchub.com


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