Saudi Aramco expands board and appoints first female member

Amin al-Nasser, Chief Executive of state oil company Saudi Aramco
Saudi Aramco CEO Amin al-Nasser. Photo: Eric Piermont/AFP via Getty Images

Saudi Aramco on Sunday announced an altered and expanded slate of directors, including the first female member, as the company plans for a massive IPO and widens its international footprint.

Why it matters: The move reflects the broader ambitions of the state oil giant, which is planning the IPO to help fund the kingdom's economic diversification.