The board has commenced a process to identify a permanent successor. Pending that appointment, the chairman of the company, Sultan Bin Sulayem, will carry out the CEO’s duties and functions on an interim basis, the firm said in a filing to the stock exchange, Nasdaq Dubai, on which its shares are traded.
Under Sharaf, DP World listed its shares on Nasdaq Dubai in November 2007 in a 4.96-billion-U.S.-dollar initial public offering, the biggest IPO in the Middle East at that time.
DP World shares lost slightly on early Wednesday, but recovered afterwards. Endite
Source: Xinhua
