Remarks by President & CEO Amin H. Nasser at the 8th YLAB Town Hall
Welcome to the 8th Young Leaders Advisory Board Town Hall. Good morning. We appreciate your presence, especially those of you who came from outside of Dhahran. I always look forward to attending Town Hall since being around our newest colleagues makes me feel much younger! Every one of these town hall events has shown how prepared our youth are for the difficulties that lie ahead. That's precisely what I want to talk to you about today: the future of Aramco and your part in it. But first, I want to think back on the past. We've been around for 90 years this year. We appreciate your commitment, toil, and display of the Aramco team spirit for continuing this long and distinguished heritage. Without Aramco's contributions, the history of the 20th century could not have been written. Even without taking into account the most recent acquisition of Qadisiyah Sports Club, we are already making a similar impact on the twenty-first century! In the context of Saudi Vision 2030, the Kingdom is changing quickly, and Aramco is a significant change catalyst. Our ambitious growth agenda aims to both fulfill today's demands and lay the groundwork for a more sustainable future. Our growth plan is primarily motivated by our 2050 net-zero goal. We recently revamped a number of parts of our firm to carry out that vision. Our corporate development and strategy departments have been improved. We are better able to define and carry out our long-term vision by combining these two. We created a new business line for technology and innovation. This intensifies our focus on fusing IR4 technology, such as AI, data analytics, and machine learning, with our work on lower carbon solutions. To help drive our long-term growth across our worldwide portfolio and value chain, we will also have two additional positions going forward: upstream president and downstream president. These adjustments will assist in aligning our internal structures even more with our goal of becoming the top integrated energy and chemicals company in the world. But success is not always assured by structures, processes, and charts. I frequently remark that even the best systems or technologies cannot ensure success; rather, success is created and enabled by people. With your enthusiasm and vigor, you belong there. The heart of our business is its people. Every Aramcon generation has accepted the challenge. Your teams already benefit from your contributions. There are those of you who are team leaders, and there will soon be many more. The individuals in this room will eventually work for Aramco as managers, directors, VPs, SVPs, and EVPs. You could even have a CEO among you.
Right now, it could be a little challenging to imagine. Some of you might be wondering what it takes to advance in the organization. Permit me to share what I've discovered along the route because I was previously in your position. First, don't be afraid to take chances or worry about failing. Compared to our generation, your generation takes more risks. I do want to emphasize this, though. We are a team of academics, professionals, engineers, and problem-solvers. Failure is not a flaw; rather, it is a necessary step in the process. We can finally figure out what works only through persistent practice and observation of what works and what doesn't. Second, expose oneself to novel concepts and innovative practices. Here are some ideas to think about in relation to that: Learn to stretch yourself socially and professionally by making new connections outside of your comfort zone. If they don't know the attendees, introverted people occasionally choose not to attend events. But making new friends and being more curious can be really beneficial. By doing so, we are able to consider viewpoints other than our own or ones with which we are familiar or at ease.
In general, your generation is more intelligent than earlier generations and is better at expressing its feelings and emotions. Being expressive is good, but if you express your irritation and frustration too much, it can backfire. For our emotions to support our goals, they must be wise. Recognize your feelings and practice controlling your rage and disappointment. I am aware that IQ has received a lot of attention, but today we are also emphasizing social and emotional intelligence. Many of you have potential or ideas that are unrealized. Your ideas are worthwhile, and you care deeply about them. However, my suggestion to you is to not take it personally if a proposal is rejected. Learn how to adapt and how to give your ideas more legitimacy so that they will get more support and attention. People from many diverse backgrounds and skill levels work at Aramco today. Your coworkers from a different department or division with diverse backgrounds and skill sets might know the solution to a problem you're having. Cooperation is essential! You can improve and acquire new skills by assuming leadership roles and starting programs that benefit your community. The social duty of Aramco is also congruent with this. Thirdly, be resilient. Work will not always go how you expect it to, just like in life. Be assured that you will have setbacks. A project might not instantly produce the intended results, for instance. Alternatively, you might not always get along well with your coworkers or your employer. The way you react, particularly how you handle disappointment, is the actual litmus test of your character. Additionally, you must be able to navigate uncertainty or murky territory. Life is not only black and white. Complexities exist. You can better manage the ups and downs of work and life by developing your resilience. Finally, remember that having a life outside of work is necessary for doing great things at work. Each is priceless. Many of those teachings have been helpful to me throughout my career. I sincerely hope you also find them helpful. I'll stop here since hearing from you is the most crucial aspect of today. Finally, I'd like to say that having a job at Aramco is an exceptional honor. Few businesses carry out work that has the potential to affect almost everyone on earth. The fact that we have that chance is fortunate. I have no doubt that you'll make the most of the opportunity and honor your family and coworkers.