Saudi Aramco names new head of finance

Saudi Arabian Oil Company (Saudi Aramco) has named six new heads of departments including its finance unit in the wake of a cabinet shake-off last week, Reuters has reported, citing unnamed sources.

Several executives at the oil giant moved to other state posts during the government reshuffle.

Khalid al-Dabbagh was named acting service line head for finance, strategy and development at the world’s largest oil producer, taking over on an interim basis from Abdallah al-Saadan, who was senior vice president of the department.

Saadan was effectively chief financial officer of Aramco, supervising preparations for the company’s initial public offering (IPO), expected in 2019.

Aramco also appointed Motassim al-Maashouq, who is vice president of IPO development, to the additional post of vice president of treasury.

In the government reshuffle announced on Saturday, Saadan was named chairman of the Royal Commission for Jubail and Yanbu, a prominent businessman was hired as labor minister while several new deputies to the Energy, Industry and Minerals Ministry were appointed.

The Aramco appointments also include Mohammed Shammary, who becomes vice president for procurement and supply chain management, replacing Abdulaziz al-Abdulkarim. Abdulkarim was appointed on Saturday to the post of deputy energy minister for industry affairs.

Nabeel al-Jama’ was named vice president for corporate affairs, replacing Nasser al-Nafisi, who was appointed to the position of assistant energy minister, while Nabil al-Dabal now heads the human resources department.

Salah al-Harkey was also named as an acting executive head and a financial controller.