Aramco makes lead­er­ship changes

New Straits Times - - Business World -

KUWAIT: Saudi Ara­bian Oil Co (Aramco) has pro­moted eight ex­ec­u­tives to top po­si­tions, in­clud­ing a se­nior vice-pres­i­dent for down­stream op­er­a­tions, as it seeks to dou­ble re­fin­ing ca­pac­ity and ex­pand nat­u­ral gas and chem­i­cal busi­nesses ahead of what could be the world big­gest share sale.

The world’s largest oil ex­porter ap­pointed two se­nior vice-pres­i­dents, six vice-pres­i­dents and two as­so­ciate gen­eral coun­sels, ac­cord­ing to an in­ter­nal memo dated Sun­day and signed by chief ex­ec­u­tive of­fi­cer Amin Nasser.

The ap­point­ments are ef­fec­tive May 1. The Aramco web­site later con­firmed the ap­point­ments of the two se­nior vice pres­i­dents.

Saudi Ara­bia plans to sell as much as five per cent of Aramco next year as part of a plan to set up the world’s big­gest sov­er­eign wealth fund and re­duce the econ­omy’s re­liance on oil.

As part of the lead­er­ship changes, Ab­du­laziz al-Ju­daimi, chair­man of Mo­tiva En­ter­prises LLC, which owns the largest United States re­fin­ery, was ap­pointed se­nior vice-pres­i­dent to head Aramco’s down­stream busi­ness, ac­cord­ing to the Aramco web­site.

Nabeel Al Man­sour was ap­pointed se­nior vice-pres­i­dent, gen­eral coun­sel and cor­po­rate sec­re­tary.

The com­pany has four other se­nior vice pres­i­dents, ac­cord­ing to the web­site. Bloomberg

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