Succession Planning Announcement from
the DME Dubai – 21 May, 2008:
Nearing completion of a successful first year of
trading, the DME today announced its succession plan,
readying its management team for the next stage in its
development. Gary King, CEO of the Exchange since the
early days of the company, will hand over to Thomas
Leaver, currently COO of the DME, in the coming months
through a phased transition, ensuring full continuity in
the execution of the DME's strategy and day-to-day
operations.
"As we approach our first year
anniversary it is important for us to formalize the
management team which will take the Exchange into its
next phase of growth," commented Ahmad Sharaf, Chairman,
Dubai Mercantile Exchange.
"The DME has achieved a great deal
in its first year under Gary King’s leadership. The DME
Oman Crude Oil Futures Contract is well on its way to
becoming a global benchmark, and we will shortly list
two new financially settled contracts on the anniversary
of the launch. Gary has played a critical
part in the launch and ongoing success of the Exchange,
but of all his achievements, it is the quality of the
team he built around him that I believe will stand as
his greatest legacy – a team who will take the DME on to
achieve even greater successes," concluded Sharaf.
Mr. King, working closely with Mr.
Leaver, will continue to oversee the day-to-day
operations of the Exchange. At such time that a formal
change in leadership has been agreed, further
announcements will be made.
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