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Wed 27 Jan 2016 10:18 AM

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Dubai's DP World says CEO retires with immediate effect

DP World's chairman Sultan bin Sulayem will carry out the CEO's duties on interim basis

Dubai's DP World says CEO retires with immediate effect

DP World's long-serving chief executive Mohammed Sharaf has retired with immediate effect, the Dubai-based port operator said on Wednesday.

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.

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