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Aramco chairman re-elected onto India’s Reliance board

Aramco chairman Yasir Al-Rumayyan was first appointed to the Reliance board in 2021 for a three-year term Reuters
Aramco chairman Yasir Al-Rumayyan was first appointed to the Reliance board in 2021 for a three-year term

Saudi Aramco chairman Yasir Al-Rumayyan has been reappointed as an independent director on the board of India’s Reliance Industries Limited.

Nearly 84 percent of shareholders voted in favour while 16 percent voted against his reappointment for the five-year term, the company said in a filing with the Bombay stock exchange.

Al-Rumayyan was first appointed to the Reliance board in 2021 for a three-year term.

His first term ends on July 18, 2024.  

In November 2021, Reuters reported that Reliance, owned by Indian billionaire Mukesh Ambani, and Aramco called off a deal for the latter to buy a stake in the oil-to-chemicals business of the former due to valuation concerns.

Al-Rumayyan has been managing Saudi Arabia’s Public Investment Fund (PIF) since 2015 as the managing director, and later from 2019 as the governor of the fund, according to the Reliance website.

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