richard verity

Partner - McKinsey & Company

Riyadh, Saudi Arabia


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. 

There was a time when economic growth, sustainability, and inclusion were seen as trade-offs, but leaders today need to achieve all three. This new paradigm of growth will be more sustainable, driving innovation while reducing environmental impact. It will also be more inclusive, creating access to opportunities for people worldwide. This is not an easy task, but our ambition is to help organizations and their leaders make it a reality. Every day, around the world, we partner with our clients to set bold strategies, unlock the potential of their people, embed transformative technologies in everything they do, and innovate sustainably. The impact we deliver helps clients achieve enduring change in their capabilities and performance—and speeds up the transition to sustainable and inclusive growth.

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