DUBAI: Saudi Aramco is to showcase its clean fuel and high technology ambitions in a major sponsorship deal with Formula 1, the global car racing business.
In what is Aramco’s first global sponsorship of a major sporting event, the world’s biggest oil company will partner with F1 to advertise its products and services to some 500 million racing fans worldwide.
The sponsorship agreement features Aramco trackside branding and grants Aramco the title rights to major F1 races this year. Aramco will also be featured on F1’s integrated digital platforms and television broadcasts.
“We are excited to partner with F1, a strong global sports brand with millions of fans around the world,” said Amin Nasser, Saudi Aramco president and chief executive officer. “As the world’s leading energy supplier and an innovation leader, we have the ambition to find game-changing solutions for better performing engines and cleaner energy. Partnerships like these are important to help us deliver on our ambitions,” he added.
Oil companies, including Saudi Aramco, are investing heavily in clean fuel technology as consumers become more aware of global warming issues and investors increasingly assess company carbon footprints.
The F1 world championship runs from March to November and spans 22 races in different countries across five continents. No financial value was put on the sponsorship.
Saudi Aramco in major Formula 1 sponsorship deal
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Saudi Aramco in major Formula 1 sponsorship deal
- The sponsorship includes displaying the Saudi Aramco brand at Formula 1 race tracks around the world
- It also includes sponsorship rights for a range of grand prix races in 2020.
Egypt-born Dina Powell McCormick appointed Meta president and vice chairman
- The former Goldman Sachs partner and White House official previously served on Meta’s board of directors
- Powell McCormick, who was born in Cairo and moved to the US as a child, joins the management team and will help guide overall strategy and execution
LONDON: Meta has appointed Egypt-born Dina Powell McCormick as its new president and vice chairman.
The company said on Monday that the former Goldman Sachs partner and White House official, who previously served on Meta’s board of directors, is stepping up into a senior leadership role as the company accelerates its push into artificial intelligence and global infrastructure.
Powell McCormick, who was born in Cairo and moved to the US as a young girl, will join the management team and help guide its overall strategy and execution. She will work closely with Meta’s Compute and infrastructure teams, the company said, overseeing multi-billion-dollar investments in data centers, energy systems and global connectivity, while building new strategic capital partnerships.
“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s president and vice chairman,” Meta founder and CEO Mark Zuckerberg said.
Powell McCormick has more than 25 years of experience in finance, national security and economic development. She spent 16 years as a partner at Goldman Sachs in senior leadership roles, and served two US presidents, including stints as deputy national security adviser to Donald Trump, and a senior State Department official under George W. Bush.
Most recently, she was vice chair and president of global client services at merchant bank BDT & MSD Partners.
