DP World, a global operator of shipping terminals, has appointed Sultan Ahmed bin Sulayem as group chairman and chief executive officer with immediate effect.

He has been chairman of DP World since May 2007 and has overseen DP World's expansion, including the acquisitions of CSX and the P&O Group to become a leading global marine terminals operator.

Deepak Parekh, senior independent non-executive director, said: "The board is delighted that His Excellency Sultan Ahmed bin Sulayem has agreed to become group CEO in addition to his role as chairman.  It is the unanimous view of the independent non-executive directors that Sultan is the right candidate to ensure continuity of leadership. His extensive experience and proven track-record makes him extremely well placed to lead the group to the next level."

Bin Sulayem said: "DP World is a fantastic business that I have been proud to lead over a number of years.  I look forward to taking on the additional responsibilities of group CEO with the objective of continuing to implement our global strategy to enable global trade and drive sustained long-term value for shareholders." - TradeArabia News Service