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.  - Reuters