Interviewer: Good morning, Mr. Al-Benyan. Thank you for taking the time to speak with us today. It’s a pleasure to have the opportunity to learn more about your journey and insights.
Yousef Abdullah Al-Benyan: Good morning, and thank you for having me. I’m delighted to share my experiences and thoughts with you.
Interviewer: Let’s start with your impressive career trajectory at SABIC. You joined the company in 1987 in a business development role. Can you tell us about the challenges and opportunities you faced in those early years?
Yousef Abdullah Al-Benyan: Certainly. When I joined SABIC, the company was relatively young but full of potential. The early challenges included establishing a strong market presence and building relationships with key stakeholders. However, these challenges also presented significant opportunities. The company was growing rapidly, and there was a great deal of excitement and energy around expanding our footprint. My role in business development allowed me to contribute to that growth by identifying new opportunities and helping shape our strategic direction.
Interviewer: You’ve had international roles in various capacities, including in the USA and Asia. How did these experiences shape your approach to leadership and SABIC’s global strategy?
Yousef Abdullah Al-Benyan: Working internationally was a transformative experience. Each region has its own unique market dynamics and cultural nuances, which taught me the importance of adaptability and understanding local contexts. For example, managing SABIC’s operations in the USA and Latin America exposed me to different business practices and regulatory environments. Similarly, leading SABIC’s expansion in Asia, particularly in China, highlighted the need for strategic foresight and agility. These experiences reinforced the value of a global perspective and the necessity of tailoring our approach to fit regional needs while maintaining a cohesive global strategy.
Interviewer: In 2008, you headed the ‘1 SABIC’ global unification initiative. Can you elaborate on this initiative and its impact on the company?
Yousef Abdullah Al-Benyan: The ‘1 SABIC’ initiative was a critical step in transforming our organizational structure. Prior to this, SABIC operated in a more fragmented manner, which made it challenging to align our global operations effectively. The initiative aimed to create a single, unified global organization with a streamlined operating model. This shift was crucial for moving from a responsive, transactional approach to a more proactive, strategic one. The impact was profound— it enhanced our operational efficiency, improved collaboration across different regions, and allowed us to better leverage our global resources to drive growth and innovation.
Interviewer: SABIC has set ambitious goals, including becoming the preferred global leader in chemicals by 2025. What strategies are you implementing to achieve this vision?
Yousef Abdullah Al-Benyan: Achieving our goal of becoming the global leader in chemicals involves a multifaceted approach. We are focusing on several key areas: innovation, sustainability, and operational excellence. Investing in research and development allows us to stay at the forefront of technological advancements and create cutting-edge solutions for our customers. Our commitment to sustainability involves integrating eco-friendly practices into our operations and developing sustainable products. Additionally, we are continuously optimizing our operations to enhance efficiency and reduce costs. By excelling in these areas, we aim to strengthen our market position and deliver exceptional value to our stakeholders.
Interviewer: You hold numerous other positions, including Chairmanship roles in various organizations. How do you balance these responsibilities with your role at SABIC?
Yousef Abdullah Al-Benyan: Balancing these responsibilities requires effective time management and a strong support system. Each role demands a different focus, but they are all interconnected in terms of their impact on the industry and our broader goals. I prioritize by delegating responsibilities and ensuring that I am fully engaged in the most critical aspects of each role. The key is to stay organized, maintain open communication with my teams, and remain focused on our strategic objectives. The diverse experiences gained from these roles also enrich my perspective and contribute to my effectiveness at SABIC.
Interviewer: Looking ahead, what do you see as the biggest challenges and opportunities for SABIC in the coming years?
Yousef Abdullah Al-Benyan: One of the biggest challenges will be navigating the evolving global market landscape, which includes fluctuations in economic conditions, regulatory changes, and shifts in customer demands. Additionally, the increasing emphasis on sustainability and environmental responsibility will require us to continuously adapt and innovate. However, these challenges also present significant opportunities. By embracing new technologies, investing in sustainable practices, and leveraging our global expertise, we can turn these challenges into opportunities for growth and leadership. Our focus will be on staying agile, fostering innovation, and driving positive change in the industry.
Interviewer: Lastly, what advice would you give to aspiring leaders in the petrochemical industry?
Yousef Abdullah Al-Benyan: My advice would be to cultivate a global mindset and remain adaptable. The petrochemical industry is dynamic, and success often depends on the ability to navigate diverse markets and embrace change. Continuous learning and staying informed about industry trends are crucial. Additionally, building strong relationships and effective teams is key to achieving long-term success. Leadership is not just about directing but also about inspiring and empowering others to contribute to a shared vision.
Interviewer: Thank you, Mr. Al-Benyan, for sharing your insights and experiences with us. It’s been a pleasure to learn more about your journey and the exciting future of SABIC.
Yousef Abdullah Al-Benyan: Thank you for the opportunity. It’s been a pleasure to discuss these topics, and I appreciate your interest in SABIC and our industry.
