Saudi Aramco finance chief who helped steer IPO steps down

Former CFO Khalid Al-Dabbagh was at the forefront of the roadshow for the listing on Riyadh’s bourse.

Saudi Aramco has named Ziad al-Murshed as chief financial officer, replacing Khalid al-Dabbagh who helped lead the oil giant through its 2019 initial public offering. Al-Dabbagh, 59, will join the company’s board and retain the chairmanship of Aramco’s chemicals subsidiary, Saudi Basic Industries Corp., according to people familiar with the matter, who asked not to be identified. Al-Murshed, previously Aramco’s vice president for fuels and lubricants and also for international operations, will initially become acting CFO. Bloomberg first reported the news on Wednesday.