SAUDI ARABIA, July 1 ― Aramco's Khalid al-Dabbagh is set to step down as chief financial officer of the Saudi Arabian oil giant, Bloomberg News reported yesterday, citing people familiar with the matter.

Ziad Al-Murshed will replace al-Dabbagh, who helped in leading Aramco through its initial public offering in 2019, according to the report.

Aramco could announce the management change this week, Bloomberg News said.

Al-Dabbagh will join the firm's board and retain the chairmanship of Aramco's unit Saudi Basic Industries Corp , the report added.

Aramco declined to comment. ― Reuters