Maziar Madouli Behbahani has been appointed as the new CEO of Shahid Tondgouyan Petrochemical Company on September 5, 2025, by the CEO of Persian Gulf Petrochemical Industries Company. Shahid Tondgouyan Petrochemical, as the first producer of purified terephthalic acid (PTA) and polyethylene terephthalate (PET) in the country, plays a vital role in supplying raw materials for the textile, packaging, bottling industries, and capital market developments.
Background and Experiences of Maziar Madouli Behbahani
Maziar Madouli Behbahani holds a master's degree in chemical engineering and began his experience in the operational and process lines of Shahid Tondgouyan Petrochemical. He has worked in areas such as catalyst optimization, energy consumption reduction, and process engineering, with expertise in polymerization processes and PTA and PET plant engineering being among his notable features.
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Before reaching the CEO position, Maziar Madouli Behbahani held various roles such as Head of Process Engineering and Production Control, Technical Services Manager, Commercial Manager, and Deputy Manager of the Complex. These extensive experiences enable him to manage Shahid Tondgouyan Petrochemical with a full understanding of the industry's needs and challenges.
Challenges and Opportunities in New Management
Shahid Tondgouyan Petrochemical is located in the fourth site of the Imam Khomeini Special Economic Zone (Mahshahr) and is traded under the symbol "Shogoya" in the capital market. The purified terephthalic acid (PTA) units of this petrochemical are used as feedstock for the polymerization unit, while the polyethylene terephthalate (PET) units include bottle and textile grades and polyester fibers.
At the annual ordinary general assembly of Shahid Tondgouyan Petrochemical Company held on June 27, 2026, the net profit per share for the financial year ending March 19, 2025, was announced to be 1,209 rials. The assembly also agreed to distribute a cash dividend of 1,100 rials per share, indicating a distribution of about 91% of profits among shareholders.
However, Maziar Madouli Behbahani's management faces serious challenges. For instance, according to the quarterly report for spring 2026, the operating profit of Tondgouyan Petrochemical fell by 98% to about 10 billion tomans. The main factors for this decline have been attributed to the increased cost of feedstock paraxylene and production costs.
The new management focuses on controlling costs, enhancing production line efficiency, and pursuing localization projects for catalysts and plant equipment to reduce cost pressure and restore sustainable profit margins to the "Shogoya" symbol.
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