Here are just a few of the interesting executive changes making headlines over this past week:
Saudi Aramco Appoints Nasser as New President and CEO
Petroleum giant Saudi Arabian Oil Co. (Aramco) announced the appointment of Amin al-Nasser as president and CEO. Nasser has served as interim CEO since May, when former chief Khalid Al-Falih was named chairman of the company and health minister for the nation. Nasser has been with Aramco for more than a decade, holding various executive positions including head of the company’s upstream business, as well as petroleum engineering and development across a number of business segments. The state-owned company’s new 10-member supreme council, led by the king’s son, intends to reorganize the business now that it is no longer directly under the control of the Saudi Oil Ministry.
Avis Announces Executive Succession Plan
Vehicle rental services company Avis Budget Group announced the appointment of Larry De Shon as the company’s new president and COO. De Shon will become CEO effective January 1 of next year, succeeding Ronald Nelson, who will become executive chairman. De Shon was previously president of the company’s international operations. Since joining Avis in 2006, he has overseen operations in the US, Europe, the Middle East, and Africa. When De Shon becomes CEO in January, his responsibilities as president will be handed to SEVP and CFO David Wyshner.
New Leadership at MAN SE
Transport and energy equipment manufacturer MAN SE appointed Joachim Drees as its new CEO, replacing the retiring Dr. Georg Pachta-Reyhofen. Drees was previously chief executive of MAN’s wholly owned subsidiary MAN Truck & Bus AG. His earlier career included managerial positions with Daimler truck Group and Mercedes-Benz Trucks, where he oversaw commercial vehicle manufacturing operations. MAN has also added a new CFO, Jan-Henrik Lafrentz, who also spent time on the executive board at MAN Truck & Bus alongside Drees.
Look for more Executives on the Move next week!