Advertisement
Wednesday, Dec 01, 2021
Outlook.com
Outlook.com

Saudi Aramco Chairman To Be On Board Of Reliance Industries

Reliance chairman Mukesh Ambani announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders.

Saudi Aramco Chairman To Be On Board Of Reliance Industries
Yasir Othman Al-Rumayyan to join the board of Reliance Industries as the independent director | Twitter
Saudi Aramco Chairman To Be On Board Of Reliance Industries
outlookindia.com
2021-06-24T15:48:33+05:30

Saudi Aramco chairman and head of Kingdom's cash-rich wealth fund PIF, Yasir Othman Al-Rumayyan will join the board of Reliance Industries as an independent director in a precursor to a USD 15 billion deal.

Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed talks to sell a 20 per cent stake in the company's oil-to-chemical (O2C) unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders.

Harvard educated, Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed desire to retire, Ambani said at the company's annual shareholder meeting.

On the sale of 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.

"We look forward to welcoming Saudi Aramco as a strategic partner in our O2C business," he said. 

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

UN Seeks Release Of Kashmiri Activist Khurram Parvez, Amendment In UAPA

UN Seeks Release Of Kashmiri Activist Khurram Parvez, Amendment In UAPA

The UN has sought probe into civilian killings in Jammu and Kashmir’s Hyderpora and called on the security forces and armed groups to exercise restraint.

Omicron Cases Spike: 21 Countries That Recorded New Covid-19 Variant

Omicron Cases Spike: 21 Countries That Recorded New Covid-19 Variant

South Africa, the first nation where the virus variant was detected, has reported 77 cases of Omicron so far, prompting travel bans across the world.

Man United, IPL Big Boys, Sydney Sixers Enter UAE T20 League

Man United, IPL Big Boys, Sydney Sixers Enter UAE T20 League

Lancer Capital has made its first-ever historic foray into cricket by acquiring a franchise in the UAE T20 league. The ECB has already roped in IPL teams like MI, DC and KRR.

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

As Parag Agrawal becomes the CEO of Twitter, the Indian diaspora's representation in the tech giants of America, especially the companies in Silicon Valley gets a new badge.

Advertisement