Aramco's Al-Rumayyan replaces Eng Khalid Al-Falih as Ma'aden chairman
The kingdom's former energy minister stepped down from his post on 27 September 2019 under “special circumstances”
Saudi Arabia’s Tadawul-listed Saudi Arabian Mining Company (Ma'aden) has appointed HE Yaser Al-Rumayyan — the governor of HRH Crown Prince Mohammed bin Salman-chaired Public Investment Fund (PIF) and the chairman of Saudi Aramco — as the chairman of the board of directors and a non-executive director, replacing HE Eng Khalid Bin Abdulaziz Al-Falih, who stepped down from his post on 27 September under “special circumstances”.
In a stock market filing, Ma’aden said that Al-Rumayyan’s appointment as the chairman took affect from 28 September and will last till the end of the current board term on 24 October 2020.
The company said in the missive: “Ma'aden board of directors expressed its thanks and gratitude to HE Eng Khalid Al-Falih for his efforts, valuable contribution and his dedication in achieving the company’s objectives during his tenure in the board. Wishing him all the success.”
The news comes weeks after, Eng Al-Falih was replaced by Prince Abdulaziz bin Salman bin Abdulaziz Al Saud as the kingdom’s energy minister, under a Royal Order passed by Saudi Arabia's Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, on 7 September, 2019.
Earlier this month, Eng Al-Falih was also replaced by Al-Rumayyan, as board chairman of Saudi Aramco, the world’s largest oil producer, ahead of its planned initial public offering (IPO).