Established by Fathi Ibrahim Bayoud 2005 - Homs

Saudi Aramco appoints first woman to the board

Business | 2018-04-29 11:34:00
Saudi Aramco appoints first woman to the board
State run Saudi Aramco, the world's top oil company, said Sunday it has appointed five new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives.

The appointments come as the Saudi government plans to float around 5 percent of Aramco in an initial public offering (IPO) later this year or early 2019.

Saudi Arabian Minister of Finance Mohammad al-Jadaan and Minister of Economy and Planning Mohammad al-Tuwaijri were appointed as members of the board of directors, Aramco said in a statement.

They are joined by Lynn Laverty Elsenhans, the former chairwoman, president and CEO of U.S. oil refiner Sunoco Inc. from 2008 to 2012.

Elsenhans was named by Forbes as one of the world's most powerful women in 2008. Prior to her role at Sunoco, Elsenhans was the executive vice president of global manufacturing for Royal Dutch Shell, where she worked for more than 28 years.

She also served on Baker Hughes's board of directors from 2012 to July 2017 and sits on the board of GlaxoSmithKline.

The five new members of Aramco's board will join six returning members including Saudi Energy Minister Khalid al-Falih, who is also Aramco's chairman, and Amin Nasser, Aramco's chief executive.

Appointments to the 11-member board of directors are made by the Saudi cabinet.

The outgoing board members are Majid Al-Moneef, advisor to the Saudi Royal Court; Khaled al-Sultan, Rector of King Fahd University of Petroleum and Minerals; and Peter Woicke, former managing director of the World Bank and former vice president of the International Finance Corporation.
Reuters
Comments (0)

Post Your Comments

fill all fields below
*This confirmation code will prevent auto submit
X :Latest News
Choose France? Macron woos business chiefs rattled by protests      Suicide attack on Kurdish-US convoy in Syria 'kills 5'      EU sanctions 9 individuals over use of chemical weapons      Palestine resistance groups slam Israel strike in Syria      Thai envoy 'ready' for talks to end conflict in south      Sudan opposition vows protests amid public anger      Venezuela: Opposition calls army to turn back on Maduro      Germany bans Iran’s Mahan Air flights