Reliance backs Saudi Aramco chairman as independent director

Reliance Industries Ltd said on Wednesday Saudi Aramco Chairman Yasir Al-Rumayyan met all regulatory criteria for his appointment as an independent director, pending a shareholder approval on the decision.

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The California State Teachers` Retirement Fund, a shareholder of the Indian conglomerate, had last week decided to vote against the move based on U.S. proxy advisory research firm Glass Lewis` recommendation, BloombergQuint had reported.

The voting to confirm Al-Rumayyan`s appointment for a period of three years will end on Oct. 19.