RIL shareholders pass resolution to add Aramco chairman as director

Shareholders have approved appointment of His Excellency Yasir Othman H. Al Rumayyan as an independent director of Reliance Industries (RIL) for three years.

On 24 June 2021, the RIL board approved the appointment of Yasir O. Al-Rumayyan, as an additional director of the company, designated as an independent director. The appointment has taken effect from 19 July 2021 for a term of three years.

RIL later sought approval of its shareholders for the same. A postal ballot was conducted through remote e-voting process. The resolution was passed with the requisite majority on 19 October 2021.

Yasir bin Othman Al-Rumayyan is governor of the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia, and the chairman of Saudi Aramco.

RIL board will consider Q2 September 2021 results today, 22 October 2021.

RIL is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. The company reported a 7.3% fall in consolidated net profit to Rs 12,273 crore on a 58.6% rise in net sales to Rs 1,39,949 crore in Q1 FY22 over Q1 FY21.

Shares of RIL were up 0.51% at Rs 2636.35. The stock hit a high of Rs 2649.95 and a low of Rs 2622 so far.

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