Reliance Industries CMD Mukesh Ambani has announced that Yasir Al-Rumayyan who is the Chairman of Saudi Aramco is all set to join the board as an Independent Director at RIL.
This announcement was made by Mukesh Ambani when he was addressing the 44th Annual General Meeting on Thursday (June 24).
On the joining of Yasir Al-Rumayyan to the RIL board Ambani said, “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,”
It must also be noted that in 2019, Reliance had announced a sale of a 20% stake in its oil-to-chemicals business for $15 billion to Aramco, the world’s top oil-exporting firm.
In his address to the annual AGM, Ambani said that he expects RIL’s partnership with Saudi Aramco will be to be formalised in an “expeditious manner during this year”, after obtaining required regulatory clearances and Rumayyan joining the board is also the beginning of internationalisation of Reliance and more announcements on international plans of the company would come later.
Further, RIL is set to disrupt the new energy business amid climate concerns and Ambani said “We have established the Reliance New Energy Council,”.
Ambani was pleased to also announce that the company’s performance in FY21 exceeded expectations despite the ongoing pandemic and commended the company and its employees for the humanitarian efforts during the pandemic.
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