Dubai: DP World announced Wednesday that its Group Chief Executive Officer Mohammad Sharaf has stepped down with immediate effect.
In a statement posted on Nasdaq Dubai, DP World said Sharaf “has retired from DP World Group, effective today, to pursue other opportunities.”
Sharaf is stepping down after 11 years as Group CEO and after 23 years with the Dubai-based port operator.
DP World Chairman Sultan Bin Sulayem thanked Sharaf for his service to the company.
“He has been an invaluable part of the success we have achieved and I wish him well for his retirement.”
Bin Sulayem will take on Group CEO’s duties on an interim basis until a the board has identified a permanent successor, the statement said.
