PIF appoints ex-CEO of Dow Chemical as special adviser

State-owned Public Investment Fund (PIF) has appointed Andrew Liveris, the former chairman and chief executive officer of Dow Chemical, as a special adviser, it said in a statement on Sunday.

Liveris will work closely with the PIF on matters of strategic importance, assist the fund in efforts to boost the value of its portfolio, and ensure the contribution of PIF companies to Saudi Arabia’s economic vision program 2030, it added.

Liveris has extensive experience working in Saudi Arabia over the last two decades. Under his leadership, Dow DuPont worked with Aramco to develop the Sadara Chemical complex, the largest petrochemical complex of its kind in the world.

Currently, he serves on the boards of IBM and Saudi Aramco, as well as holding a number of senior advisory roles.

The PIF, which manages more than $250 billion in assets, aims to increase its asset portfolio to $400 billion by 2020.