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Aramex Group CEO Othman Al-Jeda resigned less than a month after Abu Dhabi sovereign investor ADQ secured a 63.26% stake in the Dubai-listed logistics and courier firm via a conditional cash offer through its subsidiary, Q Logistics Holding.
Aramex announced Al-Jeda, a 31-year veteran with the company, resigned for “personal reasons”, and will be replaced by Nicolas Sibuet, the current Chief Financial Officer, who will take over as Acting Group CEO effective April 24.
Sibuet joined Aramex in January 2022 as CFO and has 30 years of experience across the logistics, shipping, oil & gas, and aviation industries, Aramex said.
Last month, ADQ took a majority stake in the logistics firm, with acceptances from the voluntary cash offer representing 40.57% of Aramex’s shares.
(Writing by Bindu Rai, editing by Seban Scaria)
