RIYADH: Executives from Alphabet, Coca Cola and BlackRock are among are host of senior leaders joining the expanded board of the US-Saudi Business Council as economic ties deepen between the two countries.
Citi, Bank of America and ExxonMobil are also among some of the world’s largest financial, industrial and technology companies on the board as Saudi Arabia accelerates efforts to attract foreign investment and deepen private-sector partnerships.
The entity will be co-chaired by Lubna Olayan, chair of the corporate board of the Olayan Group, and Jane Fraser, chair and CEO of Citi.
The board has also retained long-serving members including Amin Nasser, president and CEO of Aramco; Robert Wilt, CEO of Maaden; Rami Al Turki, president and CEO of Alturki Holding; and Charles Hallab, president and CEO of the US-Saudi Business Council.
“This board represents an extraordinary alignment of global leadership at a pivotal moment in the bilateral relationship, one that is consistent with a reinvigorated and reimagined role for the Council in the US-Saudi partnership,” said Hallab.
He added: “Their collective expertise across areas critical to both economies positions the council to advance bilateral trade, investment, and business collaboration like never before.”
The new US members include Ruth Porat, president and chief investment officer of Alphabet and Google, as well as Larry Fink, chairman and CEO of BlackRock. Brian Moynihan, chairman and CEO of Bank of America, and Darren Woods, chairman and CEO of ExxonMobil, have also joined the board.
Other executives joining include James Taiclet, chair, president and CEO of Lockheed Martin; Chuck Robbins, chair and CEO of Cisco; and Brendan Bechtel, chairman and CEO of Bechtel.
The expanded board also features Mike Wirth, chairman and CEO of Chevron, and Ed Bastian, CEO of Delta Air Lines.
Additional members include Jim Fitterling, chairman and CEO of Dow; Jenny Johnson, CEO of Franklin Templeton; and Chris Nassetta, president and CEO of Hilton.
Vimal Kapur, chairman and CEO of Honeywell; and James Quincey, executive chair of Coca-Cola Co., are also part of the board.
Saudi members include Tareq Amin, CEO of Humain; John Pagano, group CEO of Red Sea Global and managing director of AlUla Development Co., and Kamal Bahamdan, CEO of Safanad.
The board also includes Tareq Al-Sadhan, CEO of Saudi National Bank, and Abdullah Al-Zamil, chair of SENAAT, formerly Zamil Industrial.
The council said the appointments reflect its renewed role in strengthening and diversifying Saudi-US economic relations across sectors including finance, energy, technology, tourism, defense, infrastructure and advanced industries.
“This board speaks to the depth and maturity of the US–Saudi economic relationship. We look forward to translating this partnership into a meaningful collaboration, and long-term value for both economies,” said Olayan.
Fraser of Citi said the caliber of leaders joining the board signals the significant momentum of the US-Saudi business partnership. “This is an important inflection point in the Council’s work to strengthen economic ties between the US and Saudi Arabia and advance our shared long-term growth,” he added.
The US-Saudi Business Council serves as a primary forum for commercial cooperation between the two countries, facilitating dialogue and access between member companies, institutions and decision-makers in support of joint business and investment opportunities.
