CARACAS - Businessman Alex Saab, a close ally of Venezuelan President Nicolas Maduro who was freed in a prisoner exchange with the United States last year, has been named as industry minister, Maduro said on Friday in a social media post.

       Saab replaces Pedro Tellechea, whom Maduro moved from the oil ministry to the industry ministry in August as part of a large cabinet shakeup following a disputed presidential election. The cabinet shakeup included leadership of the oil and finance ministries and state energy company PDVSA.

       Saab was freed in a prisoner exchange with the United States late last year after being extradited to the U.S. from Cape Verde to face money laundering charges.

       Tellechea said on Friday on social media that he was grateful for having worked as part of the cabinet, and said he had resigned as industry minister due to "health problems that require immediate attention." REUTERS