BlackRock, Inc has named the Chief Executive Officer of the Saudi Arabian Oil Company (“Aramco”), to BlackRock’s Board of Directors (“Board”).

Amin Hassan Ali Nasser, President, and Chief Executive Officer of the Saudi Arabian Oil Company Aramco, has joined the Board of BlackRock as an independent director.  He will replace Bader M. Alsaad, Director General and Chairman of the Board of the Arab Fund for Economic & Social Development. Bader will not stand for re-election to the Board in 2024 after serving the remainder of his term this year. He has served the BlackRock Board since 2019.

Nasser Amin brings over four decades of his perspective as the chief executive of a company to the BlackRock Board. With his appointment, BlackRock now has 17 Board members, of which 15 are independent and five are women.

Commenting on Nasser’s election, Laurence D. Fink, Chairman and CEO of BlackRock, said: “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients. His leadership experience, understanding of the global energy industry and the drivers of the shift towards a low carbon economy, as well as his knowledge of the Middle East region, will all contribute meaningfully to the BlackRock Board dialogue. We are delighted that BlackRock’s Board, employees, and shareholders will have the benefit of his vision and counsel.”

“Bader’s international investment experience has been instrumental to BlackRock’s success, and I sincerely thank him for his dedication to the firm. The wisdom and guidance that he has given the Board throughout his tenure has been crucial to our growth in the Gulf region and globally,” said Fink.