World Economic Forum Appoints Lubna S. Olayan to its Board of Trustees

Geneva, Switzerland, 12 September 2022 – The World Economic Forum announces that Lubna S. Olayan, Deputy Chair at the Olayan Group and Chair of the Executive Committee at Olayan Financing Company, is to join its Board of Trustees. With her track record of thought leadership and long-term success in her field, Olayan will contribute to strengthening the Forum’s platform for public-private cooperation.

The Olayan Group is a 75-year-old private, multinational enterprise. The group is both an operator and financial investor in Saudi Arabia and the Arab world and a large financial investor internationally across various asset classes. In 2004, Olayan became the first woman to join the board of a Saudi publicly listed company when she was elected to the board of Alawwal Bank. Currently, she is Chair of SABB, following its merger with Alawwal in 2019. In addition to chairing the board of Alfanar, the Arab world’s first venture philanthropy, Olayan also sits on several international advisory boards, including those of Akbank, Allianz SE and Bank of America.

“The World Economic Forum, as the International Organization for Public-Private Cooperation, is delighted to welcome Lubna Olayan to its Board of Trustees, further strengthening the body’s regional, gender and industry diversity,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

As of 1 September 2022, the members of the Board of Trustees of the World Economic Forum are:

Klaus SCHWAB* Chairman of the Board of Trustees, World Economic Forum

Peter BRABECK-LETMATHE* Vice-Chairman, Board of Trustees, World Economic Forum

Mukesh AMBANI Chairman and Managing Director, Reliance Industries, India

Marc BENIOFF Chairman and Co-Chief Executive Officer, Salesforce, USA

Thomas BUBERL*, ** Chief Executive Officer, AXA, France

Laurence D. FINK Chairman and Chief Executive Officer, BlackRock, Inc.

Chrystia FREELAND Deputy Prime Minister and Minister of Finance, Office of the Deputy Prime Minister of Canada

Orit GADIESH** Chairman, Bain & Company, USA

Kristalina GEORGIEVA Managing Director, International Monetary Fund, Washington DC

Fabiola GIANOTTI* Director-General, European Organization for Nuclear Research (CERN), Geneva

Al GORE Vice-President of the United States (1993-2001); Chairman and Co-Founder, Generation Investment Management, USA

André HOFFMANN* Non-Executive Vice-Chairman, Roche Holding Ltd., Switzerland

Paula INGABIRE Minister of Information Communication Technology and Innovation, Ministry of Information Communication Technology and Innovation of Rwanda

Joe KAESER Chairman of the Supervisory Board, Siemens Energy AG, Germany

Christine LAGARDE President, European Central Bank, Frankfurt am Main

Yo-Yo MA Cellist

Patrice MOTSEPE Founder and Executive Chairman, African Rainbow Minerals, South Africa

Ngozi OKONJO-IWEALA Director-General, World Trade Organization (WTO), Geneva

Lubna S. OLAYAN Chair of the Executive Committee, Olayan Financing Group, Kingdom of Saudi Arabia

H.M. Queen Rania AL ABDULLAH of the Hashemite Kingdom of Jordan

L. Rafael REIF President, Massachusetts Institute of Technology (MIT), USA

David M. RUBENSTEIN Co-Founder and Co-Executive Chairman, Carlyle Group, USA

Mark SCHNEIDER Chief Executive Officer, Nestlé SA, Switzerland

Tharman SHANMUGARATNAM Senior Minister and Coordinating Minister for Social Policies of Singapore

Jim Hagemann SNABE* Chairman, Supervisory Board, Siemens AG, Germany; Chairman, A.P. Møller-Maersk, Denmark

Julie SWEET Chair and Chief Executive Officer, Accenture, USA

Feike SYBESMA Chairman of the Supervisory Board, Royal Philips, Netherlands

Heizo TAKENAKA** Minister of State for Economic and Fiscal Policy of Japan (2002-2006)

Min ZHU* Chairman, National Institute of Financial Research, People’s Republic of China; Deputy Managing Director, International Monetary Fund, Washington DC (2011-2016)

*Member of the Governing Board

**Member of the Audit & Risk Committee