Falih moved aside as Aramco IPO looms

Saudi oil giant's chairman exits as preparations for a partial sell-off limber up

Saudi energy minister Khalid al-Falih was once the man King Salman and Crown Prince Mohammed bin Salman (MbS) turned to when something needed fixing. While serving as Aramco CEO, he was appointed health minister to sort out a crisis in that department. He then became not only chairman of Aramco but also a minister with responsibility for energy as well as for industry and mining. Now, in the space of a couple of days, Falih's role has diminished significantly. He is no longer the Aramco chairman; and the industry and mining responsibilities have been taken away from his ministry. The new Aramco chairman is a former banker, Yasir al-Rumayyan. His appointment marks a new departure: it is the f