Business / #ForbesBusiness

April 29, 2018,   3:44 PM

Saudi Aramco Appoints First Woman To Its Board As IPO Looms Closer

Mary Sophia


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Saudi Arabia’s energy firm Saudi Aramco has appointed a woman to its board for the first time even as the company looks to list its shares in the international market either this year or next.

Aramco said that it appointed Lynn Laverty Elsenhans, along with five others to the company’s board. Other members include the kingdom’s Minister of Finance Mohammed A. Al-Jadaan, Minister of Economy and Planning Mohammed M. Al-Tuwaijri, former Chevron Philips Chemical Co. LP President & CEO Peter L. Cella and chairman of Dow Chemical Company Andrew N. Liveris.

Elsenhans, the former chairwoman, president and CEO of U.S oil refiner Sunoco, has had a long career in oil and gas industry- a field that is not traditionally seen many female leaders. Prior to joining Sunoco, she worked in Royal Dutch Shell for more than 28 years.

She joined Sunoco in 2008 and was tasked with the turnaround of the lossmaking American fuel manufacturer. During her tenure, Sunoco divested its assets and exited its refining business that further pulled down its profits.

Elsenhans was ranked as one of Forbes Most Powerful Women while she helmed Sunoco. She left the Philadelphia-based firm in 2012 and joined GlaxoSmithKline as a non -executive director. She has been serving as a director of Baker Hughes since July 2017.

This is not the first time that Aramco is putting a woman in a senior leadership position. In 2015,  Aramco appointed a seasoned oil and gas professional and long-time Aramco employee Nabilah al-Tunisi as the chief engineer.

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