Riyadh – Mubasher: Dussur, a joint venture of the Public Investment Fund (PIF), Saudi Arabian Oil Co (Saudi Aramco), and Saudi Basic Industries Corporation (SABIC), on Tuesday announced the appointment of Raed AlRayes as its new CEO as of 1 April.
The new CEO has a 20-year experience in various sectors such as investment banking and direct investment, according to a statement.
AlRayes held several leading positions in major firms in Saudi Arabia including deputy CEO and head of investment banking at Al Rajhi Capital and CEO and general manager at Arab Petroleum Investments Company (APICORP), along with his former position as an advisor to the minister of energy, industry and mineral resources.
The Saudi-based firm revealed its plans to “open up new industrial sectors that will be of great importance to realizing the goals of vision 2030, most notably those of job creation and economic diversification,” Dussur’s chairman, Mohammed Abunayyan, said.
The new CEO noted that he would build on the accomplishments of his predecessor Rasheed Al-Shubaili towards “achieving the kingdom’s vision 2030 through the establishment of valuable partnerships with leading global players.”
