Aramco’s CFO Khalid al-Dabbagh set to step down -Bloomberg

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Saudi Aramco logo is pictured at the oil facility in Abqaiq
FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov

June 30, 2021

(Reuters) -Saudi Aramco Oil Co’s Khalid al-Dabbagh is set to step down as chief financial officer of the oil giant, Bloomberg News reported https://www.bloomberg.com/news/articles/2021-06-30/finance-chief-who-steered-saudi-aramco-through-ipo-to-step-down?sref=SCAzRb9t 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 (IPO) in 2019, the report said.

Al-Dabbagh will join the firm’s board and retain the chairmanship of Aramco’s unit Saudi Basic Industries Corp, Bloomberg said.

Aramco could announce the management change this week, the report added.

Aramco did not respond to a request for comment after business hours.

(Reporting by Maria Ponnezhath in BengaluruEditing by Sonya Hepinstall)