Riyadh – Mubasher: The board of National Industrialization Company (Tasnee) has approved the appointment of Fahad bin Abdulrahman Al Meshal as the company’s new CEO, effective on 1 October 2026.

The decision, finalized on 17 August 2026, follows the resignation of current CEO Fawaz bin Mohammed Al Fawaz, who is retiring from the position.

Al Fawaz will officially step down on 30 September, though he will retain his seat on the company's board of directors for the remainder of the current term. The board expressed its appreciation for his leadership and contributions to the firm's performance during his tenure.

The incoming CEO, Al Meshal, brings over 30 years of experience in the global petrochemical industry. He previously served as Executive Vice President for Finance, Administration, and Marketing at Advanced Petrochemical Company.

Al Meshal holds a bachelor’s degree in Management and Economics from Qatar University and has completed executive programs at London Business School, Oxford University, and INSEAD.

He currently serves on the board of Tasnee and chairs several subsidiaries, including Saudi Polyolefins Company and Saudi Ethylene and Polyethylene Company.

At the end of June 2026, Tasnee reported net losses totaling SAR 889.10 million, compared to a net profit of SAR 830 million a year earlier.