Global ports operator DP World has appointed a new chairman and chief executive.
Essa Kazim has been named chairman of the board of directors, while Yuvraj Narayan will serve as group chief executive, the Dubai Media Office said on Friday.
Mr Kazim is currently the governor of the Dubai International Financial Centre and chairman of Borse Dubai, the holding company for Dubai Financial Market and Nasdaq Dubai.
Mr Narayan has served as DP World's group deputy chief executive and chief financial officer.
The new appointments support DP World's strategy for sustainable growth "and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics," the Dubai Media Office said.
The pair will replace the company's long-serving chairman and chief executive Sultan bin Sulayem.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Friday also issued a decree appointing Abdulla bin Damithan as chairman of the Ports, Customs and Free Zone Corporation. He replaces Mr Bin Sulayem in that role.
Mr Bin Sulayem was appointed as DP World's group chairman and chief executive in February 2016, after being appointed to the board in 2007.
The Dubai government-owned ports operator is responsible for about 10 per cent of the world's container trade, its figures show.
DP World has operations in 83 countries, with more than 119,000 employees, according to its website.
The company's vast global ports operations spans from Peru to Australia.
It runs and operates the Middle East’s largest port at Jebel Ali in Dubai and the London Gateway in the UK.
Mr Narayan joined DP World in 2004 and became group chief executive officer in 2005.
Before joining DP World, he held executive positions with ANZ Group as head of corporate and project finance for South Asia and served as chief financial officer at Salalah Port Services in Oman.
Under Mr Kazim, DIFC has become one of the fastest-growing onshore financial hubs of the broader Middle East, North Africa and South Asia region.
DIFC added a record number of companies last year, driven by a sharp rise in the number of asset and wealth managers in the financial hub of the emirate, which now plans to double its size by the end of the next decade.
It registered 1,924 new companies in the 12 months to the end of December, a 28 per cent annual increase, according to data released in February.
