Saudi Aramco appoints former Ernst & Young Chairman Weinberger to board of directors


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Saudi Aramco appoints former Ernst & Young Chairman Weinberger to board of directors

On Sunday, the 5th of April 2020, Saudi Aramco, the Kingdom of Saudi Arabia’s state-backed oil giant and the world’s most profitable company on an unaudited basis which had scored a record Initial Public Offering back later last year that broke Alibaba’s $25 billion IPO scored back in the 2014, had issued a statement saying that the company would oust Andrew Gould from its board of directors and Gould would be succeeded by the J&J and Metlife management board member Mark Weinberger, 58.

Besides, the grief-sickened Saudi’s oil mammoth which had been scuffling amid a multi-year low crude oil price stemmed from a crude oil price war against Russia and would likely to default its first dividend payment of nearly $75 billion due in September this year, had also added in its Sunday’s (April 5th) statement that Mark Weinberger, an American businessman and the former global Chair and Chief Executive of the UK-based multinational professional services firm Ernst & Young who had also held several public posts in the Washington DC including the Assistant Secretary of the US Treasury for Tax Policy, was appointed in to Saudi Aramco’s board of directors as an independent board member.

On top of that, apart from serving as an independent board member of Saudi Aramco, Weinberger would also act as directors on the management boards of J&J, Metlife and several boards of trustees including the USCIB (United States Council for International Businesses), said Aramco.