Mumbai: Reliance Industries Limited (RIL) headed by Mukesh Ambani has teamed up with Saudi Arabia’s Saudi Aramco. Saudi Aramco chairman, Yasir Othman Al-Rumayyan has been inducted into the board of directors of RIL as an independent director. This was announced at the annual meeting of RIL’s shareholders. Yasir Othman Al-Rumayyan will replace Yogendra P Trivedi.
‘We look forward to welcoming Saudi Aramco as a strategic partner in our O2C business. I am sure that we will immensely benefit from his rich experience with one of the world’s largest companies, and also one of the largest Sovereign Wealth Funds in the world. His joining our Board is also the beginning of internationalization of Reliance,’ Mukesh Ambani said.
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At present, Al-Rumayyan is the Governor of the Public Investment Fund (PIF). He was appointed to this post in May 2019 and later appointed as chairman of the board of Saudi Aramco in September 2019.
The board of directors of RIL includes Mukesh Ambani, his wife Nita Ambani, cousins Hital and Nikhil Meswani and business heads PMS Prasad and PK Kapil. Independent directors include eminent scientist Raghunath A Mashelkar, Adil Zainulbhai, Dipak C Jain, former finance secretary Raminder Singh Gujral, Shumeet Banerji, former SBI chairperson Arundhati Bhattacharya, and former CVC K V Chowdary.