SABIC needs to revisit portfolio, bring value to shareholders: Al Benyan

CEO Yousef Al Benyan

Saudi Basic Industries Corp. (SABIC) is looking at the recent challenges from three angles, the first one that will be good for our employees and specifically on the social, physical, and financial levels, CEO Yousef Al Benyan said during the FII session held today, Jan. 27.

The second, is related to the working place and the policy that the company needs to introduce an order for it to cope with the new situation and what type of skills that the company needs to bring so as to stay relevant to the market and customers demands.

“And finally, we look at also the operating model. I think each company needs to look at the operating model from a different perspective,” Al Benyan added.

“We need to revisit our portfolio. We need to revisit our way of operating domestically and globally, and make sure that this is also copes with the market changes and copes with the new generations that we are dealing with, and more importantly bring a value to our shareholders,” Al Benyan explained.

We interrupted your connection there. Tell us a little about how bny Mellon is reacting now how you're responding? 

Well, I mean there's a few things going on. I think the earlier conversation about digitization and the environment is where we're digitizing. I think the conversation around the workforce of the future and where that is going to go in the importance of Wellness event was pointed out. It's not just about it. Not just Financial but also as we talked even in even extending that into 

You can see the conversation typically around Wellness is something that took place and HR and cage the but it's a conversation that we're holding now at the c-suite regular basis and we continue to manage through that and through the mental aspects of it and encourage our employees to constantly take advantage of the resources that are that are available to them. 

Speaking about COVID-19, Al Benyan explained that the pandemic disturbed the way that corporates operate.

SABIC had a clear strategy for engagement and communication. The platform is going to be very important for SABIC’s growth and competitive positions, he concluded.