KUWAIT, June 15th, 2020 — Effective Sept. 30, 2020, Dr. Ramesh Ramachandran will retire as CEO of the Greater EQUATE Group.
He will be replaced by Mr. Naser Aldousari, current Senior VP of EQUATE, whose career has spanned more than 24 years in the global petrochemical industry and includes several senior leadership roles with Petrochemical Industries Company (PIC) and membership on the EQUATE and The Kuwait Olefins Company (TKOC) Boards of Directors.
Sulaiman AlMarzouqi, Chair of the EQUATE Board of Directors, said the organization is committed to a smooth and seamless transition within the senior leadership team as EQUATE prepares for a new era of continued success and growth. On behalf of the Board, he thanked Dr. Ramachandran for his long and dedicated service to MEGlobal and EQUATE that delivered extraordinary results across the globe.
“As we enter a next phase of growth of EQUATE, Mr. Aldousari is ideal to take over the leadership of this great company,” he said. “He has the experience, knowledge and vision to lead EQUATE through this challenging time and prepare it for new levels of success in the future.”
EQUATE lead director from Dow, Mr. Raja Zeidan added, “We are looking forward to the leadership that Mr. Aldousari will bring to our organization. We also thank Dr. Ramachandran for the many milestones he achieved while CEO with MEGlobal and then CEO of EQUATE. He brought a new level of shareholder value and a global perspective that has become a core part of our identity and strategy. We thank him deeply for his leadership and dedication.”
Mr. Aldousari said he is looking forward to his new responsibilities.
“I am honored to assume the role of CEO of EQUATE,” Aldousari said. “I know this organization’s impressive achievements are only the beginning of what we can accomplish. I am grateful for the confidence placed in me by the Board and am committed to continuing the operational excellence, innovation and global leadership for which EQUATE has become known.”
He added, “I would like to thank Dr. Ramachandran for his hard work, innovative thinking and commitment to EQUATE’s values. He has taken us to a new level of achievement and has given us the platform from which to launch a new era of success for EQUATE.”
Dr. Ramachandran called his time as EQUATE CEO one of the pinnacles of his career.
“It has been a privilege to work with a team of people dedicated to excellence, in whatever division or role in which they work,” he said. “EQUATERs can be proud of the successes we have achieved in the past few years and your resilience and determination will serve you well. Naser will make a superb CEO and with the support of the new leadership team, I have full confidence in his ability to continue the organizational excellence that makes EQUATE a global industry leader.”
About EQUATE Group
The EQUATE Group is a global producer of petrochemicals and the world’s second-largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society.