Crew will lead the multi-billion-dollar engineering thermoplastics business with operations in more than 25 countries and over 10,500 employees worldwide.
Crew succeeds Brian T. Gladden who left the company to pursue other opportunities.
"We are pleased to name a proven, influential leader such as Charlie as president and CEO of our thermoplastics business," said Sabic Vice Chairman and CEO and Chairman of Sabic Innovative Plastics Supervisory Board, Mohamed H. Al-Mady.
"Charlie is well-known throughout the industry, and is a highly respected leader across the entire Sabic organization."
Crew has had a long and accomplished career with the company. He joined GE Plastics in 1977 as an account manager, and over the years he has held a variety of roles of increasing responsibility.
Crew was president and chief executive officer of LNP* Engineering Plastics, and served as vice president and general manager of the Cycolac* and Geloy* resins and petrochemicals business.
He led the European operations as president and senior managing director of GE Plastics Europe, Middle East, and Africa, and also was vice president and general manager commercial operations for GE Plastics Americas.
Most recently Crew was vice president and general manager of Sabic Innovative Plastics' global ventures business. Crew graduated from Villanova University in Pennsylvania with a bachelor's degree in marketing.
"This internal promotion underscores the depth of our management team and the strength of our succession plan," continued Al-Mady.
"Charlie is a seasoned executive with more than 30 years in the plastics business, ensuring continuity of leadership within this critical business."
Sabic Innovative Plastics was launched in 2007 following the acquisition of GE Plastics.
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Sabic Innovative Plastics names Charlie Crew President and CEO
- Saudi Arabia: Monday, May 19 - 2008 at 16:59
- PRESS RELEASE
Sabic Innovative Plastics today announced that Charlie Crew has been promoted to president and CEO of the company, effective immediately.
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About Sabic
Saudi Basic Industries Corporation (Sabic) is one of the world's 10 largest petrochemicals manufacturers. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
Sabic's profit rose to a record SR27bn ($7.2bn) in 2007, a 33% increase over 2006. Sales revenues for 2007 totalled SR126.2bn ($33.7bn), the highest revenues achieved by the company since its inception. Total assets stood at SR256bn ($68.3bn) at the end of 2007.
Sabic operates six interlinked strategic business units: Basic Chemicals, Intermediates, Specialty Products, Polymers, Fertilizers and Metals. In 2007 Sabic Innovative Plastics was launched as a global manufacturer and supplier of highly engineered thermoplastics. Sabic has significant research resources and has 16 dedicated Research and Technology and application centers in the Middle East, the Americas, Europe and Asia-Pacific. The company operates in more than 40 countries across the world with over 31,000 employees worldwide.
In Saudi Arabia, the company has 20 world-scale complexes and 19 of them are located in the industrial cities of Al-Jubail and Yanbu. Some of these complexes are operated with multi-national joint venture partners such as ExxonMobil, Shell and Mitsubishi Chemicals. Elsewhere, Sabic manufactures on a global scale in more than 45 countries in the Americas, Europe and Asia Pacific. Sabic's overall production has increased from 27 million metric tons in 2001 to 55 million metric tons in 2007.
Headquartered in Riyadh, Sabic was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70% of Sabic shares with the remaining 30% held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.
Posted by Lara Lynn Golden, News EditorMonday, May 19 - 2008 at 16:59 UAE local time (GMT+4)
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