Saudi Arabia names new Aramco chairman

(Dubai)

Reuters has reported that Saudi Arabia has named Yasir al-Rumayyan, head of The Public Investment Fund of Saudi Arabia (PIF), as chairman of Aramco, replacing Energy Minister Khalid al-Falih, as the state oil giant prepares to go public.  The article noted that Rumayyan, a former investment banker, was appointed managing director of the PIF in September 2015, after a serving as advisor at the royal court for a brief period before that. He joined Saudi Aramco’s board in 2016.  The move comes shortly after Saudi Arabia created a new ministry for industry and mineral resources, separating it from the kingdom’s colossal energy ministry, in a series of royal orders issued.

Read the original article on Reuters: Saudi Arabia names head of PIF as Aramco chairman