Dubai: Marka said on Wednesday its chief executive officer (CEO), Nick Peel has resigned, effective immediately.

In the interim, Khaled Al Mheiri, the vice-chairman of the board of directors and managing director, will assume the responsibilities of the CEO, the company said in a statement posted on Dubai Financial Market’s website.

Marka shares were up 2.84 per cent to be at Dh1.45 in a firm Dubai market. Marka has gained 17.5 per cent so far in the calendar year compared to 12 per cent gains on the DFM General Index.