After serving for a total of 23 years and as CEO for 11 years, Mohammed Sharaf is to step down from his long-serving position at global marine operator, DP World, according to Emirates24/7.
Sultan Ahmed bin Sulayem, Chairman of the group, will, on an interim basis, carry out the CEO’s duties.
Sharaf said: “I would like to thank Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Sultan bin Sulayem, Chairman of DP World and the DP World Group for giving me the opportunity to be part of the success story of DP World.
“It has been a very exciting journey and I am confident that the team will continue taking DP World to even greater heights.”
PTI recently reported that DP World is setting up a US$2 billion joint-venture with the Russian Direct Invest Fund in order to begin investment in different types of Russian infrastructure, including ports.
The port and terminal operator has begun a strong year in 2016 in terms of project planning, having also won a 25-year concession to develop and operate a logistics centre in Kigali, Rwanda.