DP World’s long-serving chief executive Mohammed Sharaf has retired with immediate effect, the Dubai-based port operator said on Wednesday.
Mr Sharaf had been CEO for 11 years and worked for the company for 23 years, a statement to the Nasdaq Dubai bourse said.
DP World’s chairman Sultan bin Sulayem will carry out the CEO’s duties on interim basis, it said.
The company has a portfolio of more than 65 marine terminals across six continents, according to its website.
DP World’s market capitalisation is $14.3 billion, making it Dubai’s largest listed company by market value.
Follow The National’s Business section on Twitter