Saudi Aramco appoints Amin Nasser as CEO

Saudi Aramco's board on Wednesday named Amin H. Nasser as the CEO of the state-owned oil company.

Nasser has been acting as president and CEO since April when his predecessor Khalid Al-Falih was appointed the company’s chairman and also the kingdom’s health minister.

The board has also approved the company’s five-year business plan for the period 2015-2019, and appointed independent auditors, Aramco said in a statement Thursday.

The meeting also reviewed Aramco’s strategy in terms of sustainable development and its transformation into a fully integrated energy company by 2020.

The meeting was attended by members of the Supreme Council including, the deputy oil minister Prince Abdulaziz bin Salman, oil minister Ali Al Naimi, the finance minister Ibrahim Al Assaf, economy minister Adel Al Fakeih, Aramco chairmain Falih and Fahad al-Mubarak, governor of the Saudi Arabian Monetary Agency, the Saudi central bank.

The 10-member Supreme Council of Aramco was formed after King Salman abolished the Supreme Petroleum Council earlier this year.