- Ziad al-Murshed named as the chief financial officer
- The IPO was a key part of the plans to open up the economy to foreign investors
Saudi Aramco has named Ziad al-Murshed as chief financial officer, replacing Khalid al-Dabbagh who helped lead the oil giant through its 2019 initial public offering, Bloomberg reported.
Al-Dabbagh, 59, will join the company’s board and retain the chairmanship of Aramco’s chemicals subsidiary, Saudi Basic Industries Corp., according to people familiar with the matter, who asked not to be identified.
Al-Murshed, previously Aramco’s vice president for fuels and lubricants and also for international operations, will initially become acting CFO.
The IPO and Aramco’s debut international bond issuance shortly beforehand were a key part of the kingdom’s plans to open up the economy to foreign investors.
Al-Dabbagh, who became senior vice president of finance, strategy and development in 2018, was at the forefront of the roadshow for the listing on Riyadh’s bourse.