Dussur, a strategic joint venture of the Public Investment Fund (PIF), Saudi Aramco and SABIC, has appointed Raed Al-Rayes as its new chief executive with effect from April 1.
Al-Rayes has a proven track record of accomplishments in different professional capacities spanning nearly 20 years — with successful contributions across several fields, including investment banking and direct investment.
“We are confident of the ability of Al-Rayes to be instrumental in implementing the company’s strategy to open up new industrial sectors that will be of great importance to realizing the goals of Vision 2030, most notably those of job creation and economic diversification,” said Mohammed Abunayyan, chairman of the board of directors of Dussur.
“This appointment comes after the successful completion of the company’s establishment phase led by Rasheed Al-Shubaili,” he added.
Dr. Al-Rayes said” “I am grateful for the confidence bestowed upon me by the board and being selected to lead Dussur ... Together, we will build up upon successes that were achieved in order to reach the aspirations of the company’s shareholders and board of directors, and cement the company’s position as a catalyst for achieving the Kingdom’s Vision 2030 through the establishment of valuable partnerships with leading global players.”
