Aramex CEO Resigns Following ADQ's Major Stake Acquisition
Deal News | Apr 24, 2025 | Zawya
Aramex's Group CEO, Othman Al-Jeda, has resigned from his position less than a month after Abu Dhabi's sovereign investor, ADQ, acquired a 63.26% stake in the Dubai-listed logistics firm. The acquisition was made through a conditional cash offer by ADQ's subsidiary, Q Logistics Holding. Al-Jeda, who has been with Aramex for 31 years, cited personal reasons for his resignation. Nicolas Sibuet, the current Chief Financial Officer with extensive experience in logistics and related industries, will assume the role of Acting Group CEO effective April 24. Last month’s cash offer by ADQ led to a majority stake acquisition, marking a significant shift in Aramex's ownership and leadership structure.
Sectors
- Logistics and Courier Services
- Investment and Holding Companies
Geography
- United Arab Emirates – The UAE is home to both Aramex, the Dubai-listed logistics firm, and ADQ, the Abu Dhabi sovereign investor, making it central to the events in the article.
Industry
- Logistics and Courier Services – This industry concerns companies engaged in the delivery and shipment of parcels and goods, which is relevant to Aramex's business operations.
- Investment and Holding Companies – ADQ's role as a sovereign investor acquiring a significant stake in Aramex classifies it within this industry.
Financials
- 63.26% – The stake acquired by ADQ in Aramex via a conditional cash offer.
- 40.57% – Percentage of Aramex shares accepted as part of the voluntary cash offer by ADQ.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aramex | Target Company | Company | A Dubai-listed logistics and courier firm. |
| Othman Al-Jeda | Former CEO | Person | The former Group CEO of Aramex who resigned after a 31-year tenure. |
| Nicolas Sibuet | Acting Group CEO | Person | Current CFO of Aramex appointed as Acting Group CEO. |
| ADQ | Bidding Company | Company | Abu Dhabi's sovereign investment fund that acquired a majority stake in Aramex. |
| Q Logistics Holding | Subsidiary | Company | ADQ's subsidiary, which facilitated the acquisition of Aramex. |