16% RIL shareholders oppose reappointment of Aramco chairman as director

Reliance Industries' shareholders have approved the reappointment of Saudi Aramco Chairman Yasir Othman H Al-Rumayyan as an independent director on the company's board for five years but over 16 per cent voted against the proposal.

In a stock exchange filing, Reliance said its shareholders through a postal ballot approved the reappointment of Al Rumayyan as well as appointment of Haigreve Khaitan as independent directors on the board. They also approved reappointment of long-time company executive P M S Prasad as a director for another 5 years.

The resolution for reappointment of Al Rumayyan was carried with 83.97 per cent voting in favour of the resolution. As many as 16.02 per cent voted against it , the filing showed.

Al-Rumayyan, who also heads Saudi Arabia's Public Investment Fund - among the largest sovereign wealth funds in the world, was first appointed on Reliance board in 2021 for a three-year term. His first term ends on July 18, 2024. And now he has been reappointed till