DP World announces new regional management structure
State-owned Dubai Ports World said Thursday it has reorganized its management structure to integrate the Peninsular and Oriental Steam Navigation port terminal business it acquired for $6.8 billion in March.
P&O operated 29 container terminals in Europe, Asia, Australia and the United States. DP World is now the world’s third-largest container terminal operator, with a combined capacity of 50 million TEUs.
DP World said its terminal business will comprise seven regions, led by Chief Executive Officer Mohammed Sharaf.
P&O’s ferry, property and maritime services divisions will be managed by DP World’s parent company, P&F World FZE.
P&O chief executive Robert Woods is scheduled to retire in September and will step down as co-CEO of DP World at the end of June, DP World said. He will continue to oversee the P&O North American business until its sale, expected later this year.
DP World promised to sell the U.S. operation after Congress threatened to block the transaction because of security concerns about a foreign government from the Middle East controlling sensitive port operations.
Woods will join the P&F FZE board of directors, serve as chairman of P&O Ferries and P&O Maritime Services, and retain the role of non-executive chairman for Southampton Container Terminal and Tilbury Container Terminal in Great Britain.
As previously reported by Shippers’ NewsWire, David Sanborn will lead the Americas region covering terminals in Canada and South America. President Bush had nominated Sanborn to be the U.S. Maritime Administrator, but he pulled his name from consideration after the political flap over DP World’s P&O acquisition.
The company’s other regional operations are:
* United Arab Emirates, headed by Mohammed Al Muallem.
* Australia, headed by former P&O executive Tim Blood.
* Europe and North/West Africa, headed by former P&O executive Roger Roels.
* Middle East and South/East Africa, headed by Grant Gilfillan, formerly with P&O Ports Australia.
* Subcontinent, headed by Ganesh Raj, with experience with APM Terminals and P&O Ports.
* Asia Pacific, headed by Peter Wong.