Smith was thanked for his valuable contributions, especially in the Bapco Modernization Program; first in his role as Deputy Chief Executive Refining & Marketing and then as the Chief Executive during the period 2011-2012.
The Chairman of the Board Adel Almoayyed will take over the responsibilities of the Chief Executive on an Acting basis effective 1st February 2013.
Adel Almoayyed, who also chaired a meeting of the Bapco Board of Directors, expressed thanks and appreciation for the valued and continuous support of the Wise Political Leadership and pledged to make every effort to enhance Bapco’s positive contributions to the Kingdom. The Chairman thanked the Minister of Finance & Minister in Charge of Oil & Gas for his guidance and support in the ongoing success of the Company.
The board reviewed a number of operational, Environmental, Health & Safety (EHS) and Organizational issues.
The operating performance for 2012 was reported and Management and employees were thanked for the good operating results and for their ongoing excellent contributions for the success of the Company.