Saudi Arabia's National Industrialization Company (TASNEE) has announced the resignation of its Chief Executive Officer, Fawaz bin Mohammed Al Fawaz, following the board's decision to accept his request to retire.
According to a disclosure issued on August 18, 2026, Tasnee's board of directors approved Al Fawaz's resignation during a meeting held on August 17. His resignation will take effect on September 30, 2026.
Al Fawaz will continue to serve as a member of the company's board during the current term. The board and the company's employees also expressed their appreciation for his contributions, crediting him with helping improve the company's performance during his tenure and wishing him continued success following his retirement.
At the same meeting, the board appointed Fahad bin Abdulrahman Al Mishal as the company's new chief executive officer, effective October 1, 2026.
Al Mishal brings more than 30 years of experience in the global petrochemicals industry and has held several senior leadership positions throughout his career. Among his most notable roles was serving as Executive Vice President for Finance, Administration and Marketing at Advanced Petrochemical Company.
He holds a bachelor's degree in management and economics from Qatar University and has completed executive leadership programmes at London Business School, the University of Oxford and INSEAD, among other international institutions. His academic and professional training has focused on advanced management, petrochemical markets, economics and leadership development.
Al Mishal currently serves on the boards of Tasnee and the Canadian Medical Center Company. He also chairs several industry entities, including Tasnee Sahara Olefins Company, the Saudi Polyolefins Company, the Saudi Ethylene and Polyethylene Company and the Saudi Acrylic Acid Company.
The leadership transition comes as Tasnee continues to strengthen its position in Saudi Arabia's industrial and petrochemical sectors, with the company placing experienced industry executives at the forefront of its long-term growth strategy.