Saudi Arabia replaces Aramco chairman ahead of potential IPO

September 03, 2019

The planned IPO for Saudi Aramco is a key pillar of a sweeping reform programme aimed at weaning the Saudi economy off its reliance on oil (AFP)

Saudi Arabia on Monday named the head of its sovereign wealth fund as chairman of oil giant Aramco, replacing Energy Minister Khalid al-Falih as the state-owned company prepares for a much-anticipated initial public offering (IPO).