Saudi Aramco appoints CEO to run $500m investments arm

Sources say Mahdi Aladel will take over as CEO of Saudi Aramco Energy Ventures

Saudi Aramco appointed a new chief executive officer to run its $500 million venture capital and investments arm after the previous head departed, according to people with knowledge of the situation.

Mahdi Aladel, who formerly led the state energy producer’s base oils and lubricants division, will take over as CEO of Saudi Aramco Energy Ventures, according to the people, who asked not to be identified because the information hasn’t been made public. A LinkedIn page appearing to belong to Aladel said he’d started the new role this month.

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