Riyadh – Mubasher: The governor of Saudi Arabia’s Public Investment Fund (PIF), Yasir Al Rumayyan, has been appointed as the chairman of Saudi Arabian Oil Company, known for Saudi Aramco, Bloomberg reported.
The world’s biggest oil company took the action before the upcoming initial public offering (IPO).
Al Rumayyan replaces Khalid Al Falih, who has been chairman of Aramco since 2015.
In August, Saudi Aramco selected Lazard, the world's leading financial advisory and asset management firm, and Moelis & Co, the global independent investment bank to advise on the oil giant’s second attempt at the world’s largest IPO.
