BREAKING NEWS

Saudi oil giant Aramco's CFO set to step down

By REUTERS

JULY 1, 2021 08:09

Aramco's Khalid al-Dabbagh is set to step down as chief financial officer of the Saudi Arabian oil giant, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Ziad Al-Murshed will replace al-Dabbagh, who helped in leading Aramco through its initial public offering in 2019, according to the report.

Aramco could announce the management change this week, Bloomberg News said.

Al-Dabbagh will join the firm's board and retain the chairmanship of Aramco's unit Saudi Basic Industries Corp, the report added.

Aramco declined to comment.

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