London Business School honours Sabic CEO

The award, presented at the school's annual summer congregation ceremony for graduates and award recipients held in London recently, recognised Al Mady as an individual who has attained outstanding distinction in business, commerce and public affairs.

"I am honoured, privileged and grateful to accept Honorary Fellowship of the renowned and world-class London Business School," said Al Mady on receiving the sole Honourary Fellowship from Prof. Nirmalya Kumar, head of marketing at the school, during the presentation of MBAs and other honours at the LBS.

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Al Mady said that Sabic and the London Business School shared many values in common. "I wish all of today's recipients of awards and degrees great success. Many will play important roles in the world's quest for just and peaceful resolution of the problems that face us all. Many will contribute to the continuing growth of world trade thereby helping to increase the quality of life for humanity," he said.

The LBS is one of the world's prominent business schools. It attracts more than 1,100 students a year and has more than 26,000 alumni in 120 countries. Other Honorary Fellows of the LBS include, amongst others, Samuel J. Palmisano, chairman and CEO of IBM; Peter Brabeck-Letmathe, CEO of Nestle; Sir John Bond, former chairman of HSBC and currently chairman of Vodafone and Sir Christopher Gent, chairman of GlaxoSmithKline.

The London Business School is consistently ranked as one of the top business schools in the world, and is committed to becoming the pre-eminent global business school. Since 2004, the Financial Times has annually ranked London Business School as one of the two top business schools in Europe.

Last year, Sabic was among the 22 Saudi companies featured on the business and financial magazine Forbes Arabia list of 50 best performing companies in the Arab world - nearly half of the total named after detailed study and research.

Of the total 50 companies on the list, 11 were from the UAE. Others were from Qatar, Kuwait, Lebanon, Egypt and Jordan.

The first three companies ranked on the list were all Saudi - Sabic, Saudi Telecom Company and Al Rajhi Bank.

The research team at Forbes Arabia studied 1,667 publicly traded companies in Arab countries in search of those that consistently performed at their best in the last two years. Eventually, only 50 companies made the final cut.

"Arab companies are witnessing a major transformation. Privatisation and the use of a wider range of financial instruments are also helping to create a sound business environment," said Forbes Arabia editor-in-chief Dr Sulaiman Al Hattlan.

"This cream of the crop is not only a ranking by market capitalisation, but we've also taken into consideration different operational and financial variables. We hope there are some surprises," he explained.