Aramco names first woman to its board
Saudi Aramco, the world’s top oil company which is preparing to go public, said yesterday it has appointed 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, which bring in more international experience, come as the Saudi government plans to float around 5 per cent of Aramco in an initial public offering (IPO) — the world’s largest — 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 US oil refiner Sunoco from 2008 to 2012.
Other new members also include Peter Cella, former president and CEO of Chevron Philips Chemical Co LP, and Andrew Liveris, director of DowDuPont Inc, and the CEO of the Dow Chemical Company.
Liveris’ appointment is effective as of July 1, Aramco said.
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.