RIYADH: The Arab Petroleum Investments Corp. has appointed Khalid bin Ali Al-Ruwaigh as its new CEO. He will take over from Ahmed Ali Attiga who led the organization over the past five years. The newly appointed executive holds an MBA from California State University, and a Bachelor’s Degree in Information Systems from King Saud University, according to a statement. Al-Ruwaigh joins the multilateral financial institution from Emirates NBD Capital KSA, where he served as CEO since March 2019. “The wealth of knowledge and experience Khalid brings, having worked in a broad range of industries, will be instrumental in continuing our strong momentum in support of a balanced approach to the energy transition agenda and sustainable development goals of our member countries and wider MENA region,” Chairman Aabed Al-Saadoun said. Established in 1975, APICORP is an energy-focused multilateral financial institution that seeks to support the sustainable development of the region’s energy sector.