Journey of Lubna Olayan: CEO of Olayan Financing Company- Entrepreneur
Lubna Olayan: A Pioneer in Saudi Business
Lubna Suliman Al-Olayan is one of the most influential
businesswomen in the Middle East, known for breaking barriers and paving the
way for women in Saudi Arabia's corporate world. Born on August 4, 1955, she
has spent over four decades leading and transforming businesses while
advocating for gender equality in a traditionally male-dominated industry.
A Strong Educational Foundation
Olayan pursued higher education at Indiana University
Bloomington, where she earned a degree in Economics. Her time abroad exposed
her to global business practices and prepared her for the challenges she would
later face in her career. Armed with knowledge and ambition, she returned to
Saudi Arabia to contribute to her family’s business empire.
Joining the Olayan Group
Upon her return, she joined the Olayan Financing Company
(OFC), a subsidiary of The Olayan Group, founded by her father, Sulaiman S.
Olayan. The company was involved in banking, real estate, healthcare,
manufacturing, and investments. With her leadership, the business expanded its
reach, becoming one of the most successful private enterprises in Saudi Arabia.
Breaking Barriers in Corporate Leadership
In 2004, Olayan became the first woman to be appointed to
the board of a publicly listed company in Saudi Arabia when she joined Saudi
Hollandi Bank (now Alawwal Bank). This achievement was a historic moment for
women in the country, proving that female executives could hold influential
positions in major corporations.
Leading a Business Empire
For years, Olayan served as the Chief Executive Officer of
Olayan Financing Company, overseeing its operations in Saudi Arabia and the
Middle East. Under her leadership, the company continued to thrive, forming
partnerships with multinational corporations and expanding into various
sectors. In April 2019, she stepped down as CEO but remained actively involved
as a board member.
A Groundbreaking Banking Appointment
On June 16, 2019, Olayan made history again when she was
named Chairwoman of the Saudi British Bank (SABB). This appointment made her
the first Saudi woman to head a bank. She was reappointed in 2020 for a
three-year term and continued to lead the bank following its merger with
Alawwal Bank. In 2023, she was elected for another term, further solidifying
her influence in the banking sector.
A Global Business Influence
Olayan’s impact extends beyond Saudi Arabia. She has served
on the boards of global companies such as WPP, Rolls-Royce, and Citigroup.
Additionally, she has contributed to prestigious institutions like Cornell
University, MIT, and INSEAD, bringing her expertise to the international
business and education communities.
Championing Women’s Empowerment
Beyond her corporate achievements, Olayan is a passionate
advocate for women’s empowerment. She has championed several initiatives aimed
at increasing female participation in the workforce, mentoring young women, and
improving access to education. Her efforts have contributed to the gradual
shift in gender roles within Saudi Arabia’s business sector.
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Commitment to Philanthropy
Olayan has actively supported various social and charitable
causes. She is a member of the Board of Trustees for organizations such as the
Arab Thought Foundation, King Abdullah University of Science and Technology
(KAUST), and the Down Syndrome Charitable Association. Her dedication to
education, healthcare, and social development has positively impacted many
lives.
A Recognized Global Leader
Olayan’s achievements have earned her numerous accolades. In
2010, she was named Cornell Entrepreneur of the Year, and in 2014, Forbes
ranked her as the 86th most powerful woman in the world. She also serves on the
Board of Trustees of the World Economic Forum, further highlighting her
influence in global business and policymaking.
A Legacy of Excellence
Lubna Olayan's leadership has left a lasting mark on Saudi
Arabia’s business landscape. Through her strategic vision, she has helped
transform The Olayan Group into a powerhouse and played a key role in shaping
the country’s financial and corporate sectors. Her ability to navigate
challenges and seize opportunities has made her a role model for aspiring
entrepreneurs.
Inspiring Future Generations
Her journey serves as an inspiration to young women across
the Middle East. By proving that women can excel in leadership roles, Olayan
has opened doors for future generations. Her contributions to business,
finance, and philanthropy continue to inspire change and progress in the
region.
A Lasting Impact
Lubna Olayan’s story is one of resilience, ambition, and
groundbreaking success. Whether in boardrooms, banking institutions, or social
initiatives, she has consistently demonstrated excellence. Her influence will
continue to shape Saudi Arabia’s corporate world, leaving a legacy of
empowerment and progress for years to come.
Timeline for story
August 4, 1955 – Lubna Olayan was born in Saudi Arabia.
1970s – Studied Economics at Indiana University Bloomington.
1983 – Joined Olayan Financing Company.
2004 – Became first woman on the board of a Saudi public
company (Saudi Hollandi Bank).
2010 – Named Cornell Entrepreneur of the Year.
2014 – Ranked 86th most powerful woman in the world by
Forbes.
2019 (April) – Stepped down as CEO of Olayan Financing
Company.
2019 (June 16) – Appointed Chairwoman of Saudi British Bank
(SABB).
2020 – Reappointed as SABB Chairwoman.
2023 – Elected for another term as SABB Chairwoman.
Present – Continues to influence business, finance, and
women’s empowerment.
