Saudi Wealth Fund Names Ex-Dow Chemical CEO as Special Adviser

(Bloomberg) -- Saudi Arabia’s sovereign wealth fund appointed former Dow Chemical Co. Chief Executive Officer Andrew Liveris as a special adviser.

Liveris will work closely with the Public Investment Fund "in several areas and assist the fund in efforts to increase the value of the portfolio, and ensure the important contribution of PIF companies to the achievement of Vision 2030 goals" of the oil-rich kingdom, according to an emailed statement.

Saudi Wealth Fund Names Ex-Dow Chemical CEO as Special Adviser

He will be an adviser to Crown Prince Mohammad Bin Salman, who is also PIF chairman, and the fund’s board. Liveris currently serves on the board of Saudi Aramco, the world’s biggest crude oil exporter.

The PIF is at the center of Saudi Arabia’s efforts to diversify revenue away from oil under an economic transformation plan known as Vision 2030. It holds about $150 billion of assets in listed Saudi companies, including stakes in Saudi Basic Industries Corp., the world’s second-biggest chemicals manufacturer.

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