• Yasir Al-Rumayyan was appointed chairman board of directors of Riyadh Air
• Saudi Arabia Crown Prince Mohammed bin Salman announced the new airline
• Al-Rumayyan is the governor of Saudi Public Investment Fund since 2017

JEDDAH: Kingdom of Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz had announced the establishment of the new national carrier Riyadh Air.

His Excellency Yasir Al-Rumayyan was recently appointed chairman of the board of directors, while Tony Douglas was appointed as the Chief Executive Officer (CEO).

The new national carrier aims to promote tourism and diversify the Saudi economy and offer tourists from around the world a chance to visit Saudi Arabia’s resorts and attractions and explore the wider region.

Al-Rumayyan has been the governor of the Saudi Public Investment Fund since 2017. He is also the non-executive chairman of the English football club Newcastle United acquired by the PIF.

In 2019, Al-Rumayyan was appointed chairman of Saudi Aramco, the world’s biggest oil company. He was appointed a member of the company’s board of directors in 2016.

He was appointed an adviser to the Royal Court in 2015 and is a board member at the US transportation network company Uber Technologies and the Japanese multinational SoftBank Group.

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In May 2016, he became an adviser to the Saudi Cabinet, then a board member of the Saudi Industrial Development Fund. Al-Rumayyan was the CEO of Saudi Fransi Capital LLC between 2011 and 2015 and is a former member of the board of directors of the Saudi Stock Exchange.

He began his career at Saudi Hollandi Bank as head of international brokerage between 1999 and 2004, before joining the Capital Markets Authority as the head of securities listings.

Al-Rumayyan received his undergraduate studies in accounting from King Faisal University in 1993 and completed his general management program at Harvard Business School in 2007.