Saudi PIF's Dussur appoints new chief executive

Dussur, a strategic joint venture (JV) of the Public Investment Fund (PIF), Saudi Aramco and Saudi Basic Industries Corp (SABIC), appointed Raed AlRayes as its new CEO with effect from April 1, 2019.

AlRayes has played a key role in many financial institutions where he held leadership positions, and has made significant contributions through board positions in numerous companies. Additionally, he has served as a member in several executive and advisory committees for leading public and private institutions that operates in several sectors, including energy, industry and services sector.

“Together we will build upon successes that were achieved in order to reach the aspirations of the company’s shareholders, and cement the company’s position as a catalyst of achieving the 2030 vision through the establishment of valuable partnerships with global players,” AlRayes commented on his appointment.

Dussur operates an investment model through partnerships with global industry leaders to develop key industrial sectors and their desired value chains in Saudi Arabia.