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World’s ‘most profitable company’ appoints FIRST woman as board member

Since April 2016, when Crown Prince Mohammad bin Salman announced Vision 2030, more and more women have been ‘breaking through’, and achieving ‘the impossible’ in KSA.

In fact, the Saudi government is pushing to get women into the workplace at any level, setting a target of increasing female participation in the workforce from 22% to 30% by 2030

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Women’s game

Last year the Saudi Stock Exchange appointed its first woman chairperson, Sarah al-Suhaimi, meanwhile Dr. Ghada Almutarie received a Nobel Prize nomination and Dhoha Abdullah become the first female head chef in the Kingdom.

And in yet another sign the Kingdom is moving towards a more modern state, the world’s most profitable company, Saudi Aramco, has just appointed its first female executive board member.

In a country where only one-fifth of women work, and there are very few female executives, this is a bold move indeed.

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Oil to play for. . .

The appointment of Lynn Laverty Elsenhans, a former chief executive and chair of US oil refiner Sunoco, to its 11-member board on Sunday, comes as the Saudi government prepares to post Saudi Aramco’s IPO later this year or early 2019. The IPO, which could take place in London, New York or Hong Kong, will be the world’s largest, according to Bloomberg.

Elsenhans was named by Forbes magazine as one of the world’s most powerful women in 2008 and was previously a senior executive at Royal Dutch Shell, where she worked for more than 28 years.

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She also sits on the board of British Pharmaceutical company, GlaxoSmithKline.

Also joining Aramco’s board are: Saudi Arabian minister of finance, Mohammed al-Jadaan; the economy minister, Mohammed al-Tuwaijri; Peter Cella, the former president and chief executive of Chevron Phillips Chemicals; and, Andrew Liveris, the chief executive of the Dow Chemical Company.