Lubna S. Olayan is the CEO and Deputy Chairman of Olayan Financing Company (OFC), the holding company through which The Olayan Group’s trading, real estate, investment, consumer and industrial related operations are conducted in the Gulf region.
In 2004, Ms Olayan became the first woman to join the board of a Saudi publicly listed company when she was elected to the board of Alawwal Bank, and she currently serves as the board’s Vice Chairman.
She has been a member of the board of Schlumberger since 2011, and in 2016 she joined the board of Ma’aden, a Saudi public company operating in the mining sector, and she served on the board of WPP plc from 2005 - 2012.
Ms Olayan also sits on several international advisory boards, including those of Akbank, Allianz SE, McKinsey & Co and Bank of America Merrill Lynch.
She is currently a trustee of the King Abdullah University of Science and Technology (KAUST), the Massachusetts Institute of Technology (MIT) as well as the Asia Business Council. Ms Olayan chairs Alfanar, a UK based charity that is one of the first venture philanthropy organizations in the Arab world.
Ms Olayan was selected by Time as being amongst the 100 most influential people in the world and has been on Fortune’s list of Most Powerful Women for many years running; she was also selected by Forbes as an influential business leader. She has received numerous awards and recognitions, including an honorary Doctor of Laws (LLD) from Trinity College, Dublin and the insignia of Member First Class of the Royal Order of the Polar Star by His Majesty the King of Sweden, Carl Gustav XVI.
Ms Olayan holds a BSc from Cornell University, and an MBA from Indiana University.
Lubna Olayan envisions fostering economic growth, empowerment, and inclusivity. As a trailblazer for Saudi women in the corporate world, her vision extends to breaking gender barriers and promoting diversity. Olayan seeks to advance sustainable business practices and enhance Saudi Arabia's global economic standing. With a commitment to innovation and strategic investments, she aims to steer organizations towards prosperity and contribute to the development of a dynamic and forward-looking business landscape. Olayan's vision aligns with the transformation of traditional norms, fostering a progressive and inclusive environment for both business and society.
Lubna Olayan, a prominent Saudi businesswoman, played a key role as the Chief Executive Officer of the Olayan Financing Company (OFC)Lubna Suliman al-Olayan, born on August 4, 1955, is a trailblazing Saudi businesswoman renowned for her impactful contributions to the corporate world. She played a pivotal role as the Chief Executive Officer of Olayan Financing Company (OFC), the holding entity for The Olayan Group's operations in Saudi Arabia and the Middle East. Founded in 1947 by her late father, Sulaiman S. Olayan, the Olayan Group is a private multinational enterprise engaged in distribution, manufacturing, services, and investments. Lubna Olayan, alongside her siblings, managed the family business and significantly expanded its reach, accumulating a fortune estimated to exceed $10 billion.
In April 2019, Olayan announced her retirement as the CEO of Olayan Financing Company, marking a transition after leading the conglomerate for years. Despite stepping down, her influence continued to soar, exemplified by her appointment as Chairwoman of the Saudi British Bank (SABB) in June 2019, making her the first Saudi woman to head a bank. She was re-elected in January 2020 to serve a three-year term, demonstrating her enduring impact on the financial sector. This legacy persisted with her reappointment after the merger between SABB and Alawwal Bank, and in January 2023, she was once again re-elected as the Chair of the Board of Directors for another three-year term.
Beyond her corporate achievements, Lubna Olayan has been actively involved in various organizations, showcasing her commitment to education and philanthropy. She joined the Board of Directors of INSEAD in December 2005 and became a member of its International Council in March 1997. She was elected to the Board of Trustees for Cornell University in April 2007 and has been associated with Effat College, the Arab Thought Foundation, the Down Syndrome Charitable Association, King Abdullah University for Science and Technology (KAUST), and the MIT Corporation. Recognized for her influential role, Forbes listed her as the 86th most powerful woman in the world as of 2014. the holding entity for the Olayan Group's operations in Saudi Arabia and the Middle East. Born into the entrepreneurial legacy of Sulaiman S. Olayan, she contributed to the group's diversified interests in distribution, manufacturing, services, and investments. With a family fortune exceeding $10 billion, Olayan held leadership positions on international advisory boards, including WPP, Rolls-Royce, and Citigroup. In 2019, she became the first Saudi woman to chair a bank, the Saudi British Bank (SABB), a position she retained through subsequent mergers and reappointments.
Lubna Olayan has made significant contributions to various boards and organizations, showcasing her commitment to education, philanthropy, and societal development. Her roles on the Board of Directors of INSEAD, the Advisory Board of Effat College, and the Board of Trustees for Cornell University demonstrate her dedication to advancing education. Olayan's involvement with Alfanar and the Arab Thought Foundation highlights her commitment to philanthropy and societal well-being. Recognized for her achievements, she received the Cornell Entrepreneur of the Year award in 2010 and holds a position on the MIT Corporation. Forbes has acknowledged her influence, ranking her as the 86th most powerful woman globally in 2014.
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