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CEO of Dubai’s logistics company Aramex resigns

By Sunil Singh
Aramex vehicle for shipment and delivery, Aramex co is logistics company delivering to any destination worldwide, internat Alamy via Reuters
The leadership at Dubai-based logistics firm Aramex, whose vehicles are a familiar sight, is changing as CEO Othman Al-Jeda steps down

Othman Al-Jeda, group CEO of Dubai-listed logistics company Aramex, has resigned, the company said in a filing to the Dubai Financial Market on Thursday.

Othman resigned “for personal reasons”, the company said, adding that the board of directors has appointed current chief financial officer Nicolas Sibuet as acting group CEO effective April 24. 

Nicolas joined Aramex in January 2022 as CFO and brings 30 years of experience across the logistics, oil and gas, shipping and aviation industries, Aramex said.

“The board has accepted Othman’s resignation with deep appreciation and great respect for the legacy he leaves behind,” said company’s chairman Mohamed Juma Alshamsi.

Othman’s resignation comes less than a month after ADQ, the third-largest of Abu Dhabi’s sovereign wealth funds, became a majority shareholder in Aramex.

Aramex shares were trading at AED2.82 a share on the DFM at 12:30pm UAE time, little changed from their previous closing of AED2.81. 

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