Back to

Richard Verity

Partner, Riyadh
Specializes in strategy-led transformations in chemicals and downstream oil; co-leads the Chemicals Practice in the Middle East

About Richard

Richard is a partner in the global energy and materials sector based in the Riyadh office of McKinsey. He coleads the Chemicals Practice in the Middle East.

Richard brings expertise in strategy creation and operating model transformation. He has led multiple projects that align a company’s internal value chain—including manufacturing, supply chain, and sales—with its new priorities.

Examples of Richard’s work include the following:

  • reorganizing a $10 billion petrochemicals company, including setting up a shared service organization, refocusing the corporate core, and defining strategic business units; reviewing and restructuring R&D; and implementing new financial reporting, balanced score-cards, and an improved sales and operations planning process (S&OP) in the final phases of the project
  • leading one of the largest cross-border merger integrations in Europe—bringing together two chemicals companies in six months and delivering over €250 million of synergy, in line with market expectations—involving the full spectrum of merger issues from synergy calculation to organization design, and from accounting processes to cultural alignment
  • leading supply chain transformations for the specialty chemicals industry, involving the introduction of the idea of “triple segmentation” and addressing the customer offer, sales administration, scheduling, and manufacturing practices
  • driving a multi-year capability building program in commercial practices for a specialty chemicals company; defining B2B best practices in pricing—including value-based, cost-plus, and competitor-focused—segmentation, governance, channel management, branding, sales force effectiveness, and organization
  • helping to develop an advanced analytics capability within McKinsey’s Chemicals Insights, to calculate cost curves for the 30 main petrochemicals and creating formulae based on product substitution in order to improve the accuracy of pricing forecasts

Richard has published articles in several titles including The Times on the topic of smart customization. His work with refugees has been referenced in The Guardian and The Telegraph and also featured in a BBC documentary on the subject.

Past Experience

Basmeh & Zeitooneh
Deputy CEO

Booz & Company
Vice president

Shell Chemicals
Head of supply chain for Lubricant Additives

Education

London Business School
MSc, management, strategy studies

University of Colorado
MA, English and creative writing

University of Cambridge, Magdalene College
BA, English literature