#United States #Washington #U.S.-Saudi Council #Jane Fraser #Lubna Olayan

U.S.-Saudi Business Council's Revamped Board of Directors

The U.S.-Saudi Business Council (USSBC) has recently unveiled its newly appointed Board of Directors, a transformation aimed at bolstering economic connections between the United States and Saudi Arabia. This significant expansion and reconstitution highlights the Council's ambition to evolve its mission amidst a changing global economic landscape.

Co-chaired by prominent figures Lubna Olayan, the Chair of the Corporate Board of the Olayan Group, and Jane Fraser, the Chair and CEO of Citi, the board includes a distinguished ensemble of leaders from various sectors critical to economic advancement. Their extensive expertise is positioned to nurture innovation, forge investment opportunities, and establish strategic collaborations that align with the economic goals of both nations.

A Showcase of Industry Leaders

The board boasts an impressive lineup of U.S. members including:

• - Ruth Porat, President and Chief Investment Officer of Alphabet and Google
• - Brian Moynihan, Chair and CEO of Bank of America
• - Darren Woods, Chair and CEO of ExxonMobil
• - Ed Bastian, CEO of Delta Air Lines
• - Chuck Robbins, Chair and CEO of Cisco
• - James Quincey, Executive Chair of The Coca-Cola Company

This diverse representation underscores the commitment to infusing innovation across sectors such as finance, energy, technology, travel, defense, and infrastructure. Each member brings invaluable insight that can help invigorate economic ties through collaboration and trade.

Significant Saudi Representation

In addition to U.S. leaders, the board includes key figures from Saudi Arabia’s economic sectors, ensuring that both sides are well-represented. These leaders include:

• - Tareq Amin, CEO of Humain
• - John Pagano, CEO of Red Sea Global
• - Tareq AlSadhan, CEO of Saudi National Bank
• - Abdullah Al Zamil, Chair of SENAAT

Their involvement is pivotal in steering the Kingdom's vision for economic diversification and growth under Vision 2030, a strategic framework aimed at reducing Saudi Arabia's dependence on oil and fostering innovation and entrepreneurship.

Statements from Key Leadership

In discussing the new board's formation, Charles Hallab, President and CEO of USSBC, expressed enthusiasm: "This Board signifies a remarkable convergence of global leadership, essential for progressing the bilateral relationship. The combined expertise across vital sectors equips the Council to enhance business engagement like never before."

Lubna Olayan remarked on the increasing maturity of U.S.-Saudi economic interactions, emphasizing the board’s potential to deliver meaningful partnerships that create sustained value for both economies. Similarly, Jane Fraser recognized this board as a vital turning point, fostering economic collaboration in both nations.

A New Era of Economic Engagement

The establishment of this powerhouse board arrives at a crucial time, accentuating the need for deeper economic engagement between the U.S. and Saudi Arabia. The USSBC aims to support strategic partnerships, facilitate trade expansion, and reinforce its role as a principal platform for private sector leadership.

This dynamic restructuring highlights the U.S.-Saudi Business Council's commitment to advancing economic ties and ensuring both countries benefit from enhanced cooperation and investment. As the board embarks on this journey, it heralds a future ripe with opportunities for new collaborations and shared success.

The U.S.-Saudi Business Council, serving as a crucial forum for commercial engagement, continues to play a vital role in connecting American and Saudi businesses, positioning itself at the forefront of bilateral trade and investment initiatives.