The Saudi Aramco Supreme Council held its first meeting in Jeddah under the chairmanship of HRH Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Prime Minister, Minister of Defense, Chairman of the Council of Economic Affairs and Development, and Chairman of Saudi Aramco’s Supreme Council.
The meeting included a presentation on Saudi Aramco and its role in supporting the Kingdom’s sustainable development which included a review of Saudi Aramco’s Strategic Transformation Program to be an integrated energy and chemicals company and the role of the program in contributing to the Kingdom’s sustainable development.
The Council made a number of decisions, including:
•The appointment of Amin H. Nasser as President of Saudi Aramco.
•The endorsement of the Company’s five-year plan (2015-2019) and the associated capital program.
•The appointment of independent auditors for the company and its subsidiaries and determining their remuneration for 2015.
•The approval of the Company's 2014 balance sheet and the profit and loss account (the Consolidated Financial Statements).
•The approval of the 2014 Annual Report of the Board of Directors and the discharge of the members of the Board of Directors from liability for their management of the Company during the same year.
At the conclusion of the meeting, HRH the Chairman of the Supreme Council commended the excellent performance of the Company and its employees and expressed his pride in Saudi Aramco as a leading national company.