Former DP World Chairman and CEO Sultan Ahmed Bin Sulayem has been appointed to lead Malaysia’s MMC Port Holdings, replacing the group’s chief executive who is leaving the position with immediate effect, according to a company memo reviewed by Reuters. The move marks a new leadership phase for one of Malaysia’s major port operators.
The move puts direct control of Malaysia's largest port operator in the hands of Emirati Bin Sulayem, MMC's executive chairman, who resigned from Dubai-based DP World in February after scrutiny over email exchanges with Jeffrey Epstein that were released by the U.S. Justice Department.
Bin Sulayem has not publicly commented on the emails with Epstein, who died in jail in 2019 while awaiting trial on sex trafficking charges. Bin Sulayem could not immediately be reached by Reuters.
The MMC memo, dated July 12, did not give a reason for the departure of chief executive Azman Shah Mohd Yusof or say when a permanent replacement would be named.
Reuters could not determine when veteran Dubai ports executive Bin Sulayem was appointed executive chairman of MMC Ports. MMC did not immediately respond to a Reuters request for comment on the contents of the memo.
Azman did not immediately respond to call and phone message for comment.
PORTS GIANT IN MALACCA STRAIT
MMC Ports is Malaysia's largest port operating group, with seven ports situated along or near the Strait of Malacca, a narrow sea lane linking the Indian Ocean and the Pacific that is vital to global trade.
The strait is one of the world's most important shipping chokepoints. The U.S. Energy Information Administration has said the strait is among the world's most important oil transit routes by volume.
MMC Ports had been expected to pursue what could have been Malaysia's biggest IPO in more than a decade, but Reuters reported in October that the company delayed the planned listing.
The July 12 memo, addressed to MMC Port management and the chief executives of its operating ports, said all matters that would previously have gone to the group CEO should now be sent directly to Bin Sulayem's office.
"Azman has ceased to serve as the Group Chief Executive Officer of MMC Port, effective immediately," it said.
The interim reporting line is meant to keep leadership, governance and decision-making steady across the group, the memo said.
Bin Sulayem said in the memo he expected operations and strategic projects to continue without disruption and the firm would maintain business momentum while ensuring continuity and stability across MMC Ports.
DP World, one of the world's largest port and logistics companies, said on February 13 that Bin Sulayem had resigned with immediate effect and named Essa Kazim as chairman and Yuvraj Narayan as group CEO.
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