Saturday, December 13, 2025 | 09:56 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Saudis replace Aramco chairman with wealth fund boss ahead of IPO

Saudis Replace Aramco Chair With Wealth Fund Boss Before IPO

Saudi Aramco
premium

Riad Hamade, Matthew Martin and Anthony DiPaola | Bloomberg
Saudi Arabia removed Energy Minister Khalid Al-Falih from his position as Chairman of Saudi Aramco, the second time his role has been cut back in less than a week, as the government prepares to sell shares in the state-owned oil company.

Al-Falih will be replaced by Yasir Al-Rumayyan, head of the sovereign wealth fund, according to a Tweet from Al-Falih’s account. The appointment of Al-Rumayyan, already an Aramco board member and a key adviser to powerful Crown Prince Mohammed Bin Salman, will seperate the Ministry of Energy from Aramco and avoid conflicts of interest as the company prepares for the upcoming