News

PIF appoints ex-Dow Chemical CEO

HandshakeSaudi Arabia’s sovereign wealth fund the Public Investment Fund (PIF) has appointed Andrew Liveris, former chairman and chief executive of Dow Chemical, as a special adviser. He will work alongside the fund on matters of strategic importance, assist the fund in efforts to boost the value of its portfolio and ensure the contribution of PIF companies to Saudi Arabia’s 2030 economic development plan, according to a statement issued by the fund. Liveris was appointed to the PIF’s board on July 1 and his appointment as a special adviser comes at a time when the fund is negotiating the sale of its majority stake in Saudi Basic Industries to Saudi oil company Aramco. Australian Liveris has worked in Saudi Arabia for the last 20 years and has been a member of the Dow board since 2004, becoming chairman in 2006. During his time in charge of Dow, the company worked extensively with Aramco non projects including the development of the Sadara Chemical petrochemical plant. ©2018 funds global mena

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