SAUDI ARABIA – Saudi Arabian Fertilizer Company (SABIC) Agri-Nutrients Company has announced the appointment of Fahad Misfer Al Battar as its new Chief Executive Officer, effective March 14, 2024.
Al Battar brings over 25 years of extensive experience in executive leadership, technical, and operational roles, with a significant tenure at SABIC and its subsidiaries.
Al Battar’s career trajectory includes various leadership positions, notably serving as President of Al Sharqiyah Petrochemicals Company, Al Jubail Fertilizer Company, and Saudi Petrochemical Company (SADAF).
His most recent role was Chief Operations Officer at SABIC Agri Nutrients, aligning with the new organizational structure implemented at the beginning of 2022.
The transition in leadership comes as Abdulrahman Ahmed Shamsaddin, the former CEO, moves to an Executive leadership position within SABIC. Al Battar is set to assume his new responsibilities on April 1, 2024, succeeding Shamsaddin.
Al Battar’s educational background includes an executive master’s degree in Business Administration and a bachelor’s degree in Chemistry from King Fahd University of Petroleum and Minerals, underpinning his expertise in both business management and technical domains.
Under the stewardship of the outgoing CEO, SABIC Agri-Nutrients achieved notable financial performance, despite challenges in the market. In the twelve months ending December 31, 2023, the company reported a net profit of SAR 3.65 (US$0.975) billion.
While this marked a decline of 63.54% compared to the previous year’s SAR 10.03 (US$2.676) billion, it underscores the resilience and adaptability of the company in navigating market fluctuations.
For the full year, the company reported sales was SAR 11,033.43 (US$2,941.96) million compared to SAR 18,980.83 (US$5,061.07) million a year ago.
Basic earnings per share from continuing operations was SAR 7.69 (US$2.05) compared to SAR 21.08 (US$5.62) a year ago.
As Al Battar assumes leadership, stakeholders anticipate his strategic vision and operational acumen to steer SABIC Agri-Nutrients toward sustained growth and resilience in the dynamic agricultural markets.
His extensive experience within SABIC and the broader industry positions him well to lead the company through its next phase of development and expansion.
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