Reliance Industries Reappoints Yasir Al-Rumayyan Amid Opposition

Reliance Industries' shareholders have approved the reappointment of Saudi Aramco Chairman Yasir Othman H Al-Rumayyan as an independent director for another five years, despite notable opposition. The resolution passed with 83.97% in favor, while 16.02% voted against it. Other key appointments include Haigreve Khaitan and P M S Prasad.

Reliance Industries' shareholders have greenlighted the reappointment of Yasir Othman H Al-Rumayyan, the Saudi Aramco Chairman, as an independent director for another five-year term. Despite the approval, over 16% of the shareholders voted against the proposal.

In its regulatory filing, Reliance announced the endorsement via a postal ballot, also reappointing Haigreve Khaitan and longtime executive P M S Prasad on the board. The resolution for Al-Rumayyan saw 83.97% voting in favor, against 16.02% dissenters.

Al-Rumayyan, overseeing Saudi Arabia's Public Investment Fund—one of the largest sovereign wealth funds globally—has been on Reliance's board since 2021. His reappointment extends till July 18, 2029. Both Al-Rumayyan and Khaitan will receive meeting fees, expense reimbursements, and profit-related commissions for their roles.

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