Saudi Aramco shareholders elect board members for upcoming term

Logo of Saudi Aramco

Saudi Arabian Oil Co.’s (Saudi Aramco) shareholders elected members of the board of directors for the upcoming three-year term, started July 1, 2021, until June 30, 2024, during the ordinary general assembly meeting (OGM) held on July 1.

The elected members include Yasir Al-Rumayyan, Ibrahim A. Al-Assaf, Mohammed Al-Jadaan, Mohammad Al-Tuwaijri, Khalid Al-Dabbagh, Andrew N. Liveris, Lynn Laverty Elsenhans, Peter L. Cella, Mark A. Weinberger, and Stuart T. Gulliver.

In addition to the above elected directors, the company’s president and chief executive officer (CEO) is a member of the board, in accordance with the company’s bylaws, the statement said.

Saudi Aramco also announced the reappointments of Yasir Al-Rumayyan as Chairman of the board, and Ibrahim A. Al-Assaf as Vice-Chairman. The appointments were made by the state, in accordance with the company’s bylaws.

Shareholders also approved the board report for 2020, as well as on the Competition Standards in accordance with Article 46(3) of the Capital Market Authority's (CMA) Corporate Governance Regulations.

They also approved the appointment of an external auditor, based on the recommendation of the board, to audit and review the interim financial statements of Q2, Q3 and 2021, and annual statements up to Q1 2031, and determining their fees.