Methanol Chemicals Company (Chemanol) announces the Termination of its CEO's Contract and assigns the Vice President of Manufacturing to Temporarily Assume the Duties of the CEO
| Element List | Explanation |
|---|---|
| Introduction | Methanol Chemicals Company (Chemanol) announces the employment contract of its CEO Eng. Sabri Abdullah Al-Ghamdi has been terminated, effective Thursday, May 15, 2025.
Engineer Fares Ahmed Al-Abbad, who currently holds the position of Vice President of Manufacturing, has been assigned the duties of Acting Chief Executive Officer until the new CEO officially assumes the position, which is expected to take place in July, God willing. Any updates will be announced in due course.
Accordingly, the membership status of Eng. Sabri Al-Ghamdi on the Board of Directors will change from executive to non-executive. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Eng. Sabri Abdullah Al-Ghamdi |
| Resignation Acceptance Date | 2025-05-15 Corresponding to 1446-11-17 |
| Resignation Effective Date | 2025-05-15 Corresponding to 1446-11-17 |
| Reasons for Resignation | Termination of employment contract |
| Element List | Explanation |
|---|---|
| Appointment Type | Delegation |
| Name of the Appointed Person | Eng. Fares Ahmed Al-Abbad |
| Date of Board Resolution | 2025-05-15 Corresponding to 1446-11-17 |
| Date Work Commencement | 2025-05-15 Corresponding to 1446-11-17 |
| Brief Resume | Eng. Fares Al-Abbad has over 27 years of professional experience in the petrochemical industry and project development, 26 of which were spent at SABIC and its affiliate company, Petrokemya. Throughout his career, he advanced in the fields of operations and process engineering, starting as a production engineer and eventually reaching the position of Senior Manager. He was also part of the team involved in oil-to-petrochemical conversion projects. Additionally, he holds two patents in the same field.
He has attended dozens training courses in the petrochemical industry as well as in management and leadership, both inside and outside the Kingdom. Engineer Fares Al-Abad holds a bachelor’s degree in Applied Chemical Engineering from King Fahd University of Petroleum and Minerals. |
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